News Stocks ATLAS Jewellery India Limited Delays Q3FY26 Results Submission Due to Board Composition IssuesATLAS Jewellery India Limited Delays Q3FY26 Results Submission Due to Board Composition Issues
ATLAS Jewellery India Limited has delayed its Q3FY26 financial results submission due to board composition issues following the cessation of all directors. The company cannot meet the February 14, 2026 deadline as its current board structure violates Companies Act 2013 and SEBI regulations. An application under Section 98 is pending before NCLT New Delhi for new director appointments, and results will be announced once proper governance is restored.
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ATLAS Jewellery India Limited has notified BSE Limited about the unavoidable delay in submitting its unaudited financial results for the third quarter ended December 31, 2025. The delay stems from significant board composition challenges that have rendered the company unable to meet regulatory filing requirements within the stipulated timeframe.
Board Composition Crisis
The company is facing a critical governance situation following the cessation of all directors in the recent past. This development has created an imbalanced board structure that fails to comply with the provisions of the Companies Act 2013 and SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015. The current composition of both the Board of Directors and the Audit Committee does not meet regulatory standards, preventing the company from conducting statutory meetings required for financial results approval.
Regulatory Timeline and Compliance
| Requirement | Details |
|---|---|
| Filing Deadline | February 14, 2026 |
| Quarter Period | December 31, 2025 |
| Regulatory Framework | Regulation 33 of SEBI (LODR) Regulations 2015 |
| Scrip Code | 514394 |
Under Regulation 33 of SEBI regulations, the company's board must consider, approve, and record the unaudited financial results within forty-five days from the end of the quarter. However, the current board composition makes it impossible to convene the necessary statutory meetings of the Board of Directors and Audit Committee before the February 14, 2026 deadline.
NCLT Proceedings and Resolution Path
The company has filed an application under Section 98 of the Companies Act 2013 before the National Company Law Tribunal (NCLT), New Delhi Bench, seeking the appointment of new directors. ATLAS Jewellery India Limited is currently awaiting directions from the NCLT regarding this matter, which is crucial for restoring proper board governance.
Timeline for Results Announcement
The company has committed to announcing its unaudited financial results for the third quarter ended December 31, 2025, once the board composition and audit committee structure comply with the requirements of the Companies Act 2013 and SEBI regulations. The resolution depends on the NCLT's decision regarding the appointment of new directors, which will enable the company to conduct the necessary statutory meetings for financial results approval.
Company Secretary Chandan Mahapatra signed the official communication to BSE, emphasizing that the delay is due to circumstances beyond the company's immediate control and reaffirming the commitment to regulatory compliance once proper governance structure is restored.
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