BIL Vyapar Limited has informed stock exchanges about a change in its statutory auditor's name following a merger between audit firms. The company, formerly known as Binani Industries Limited and currently under Corporate Insolvency Resolution Process (CIRP), filed the notification under Regulation 30 on 13th February 2026.

Auditor Name Change Details

The statutory auditor V P Thacker and Co has merged with Risabh Lodha & Bhatt, Chartered Accountants, effective from 28th January 2026. Following this merger, the new entity will operate under the name TLB and Co, Chartered Accountants.

Regulatory Compliance

The notification was submitted to multiple stock exchanges where the company's shares are listed:

• BSE Limited: Scrip Code 500059
• National Stock Exchange of India Limited: Symbol BILVYAPAR
• The Calcutta Stock Exchange Limited: Code 12026

Company Status

BIL Vyapar Limited, with CIN L24117WB1962PLCO25584, is currently operating under Corporate Insolvency Resolution Process. The notification was signed by Rachana Jhunjhunwala, Resolution Professional, with IBBI registration number IBBI/IPA-001/IP-P00389/2017-18/10707.

The company maintains its corporate office at Mercantile Chambers, 12, J. N. Heredia Marg, Ballard Estate, Mumbai 400 001, and continues its operations under the oversight of the resolution professional during the insolvency proceedings.

BIL Vyapar Limited (formerly Binani Industries Limited) has announced its unaudited financial results for the third quarter and nine months ended December 31, 2025, marking a significant development in the company's ongoing Corporate Insolvency Resolution Process. The Committee of Creditors approved these financial results in their meeting held on February 13, 2026, demonstrating continued progress in the structured resolution framework.

Financial Performance Overview

The company reported total income of ₹22.70 lakh for the nine months ended December 31, 2025, compared to ₹0.03 lakh in the corresponding period of the previous year. For the third quarter alone, BIL Vyapar recorded total income of ₹22.65 lakh against ₹0.01 lakh in Q3FY25, showing substantial improvement in operational activity.

Balance Sheet Position and Capital Structure

As of December 31, 2025, BIL Vyapar's financial position reflects the challenges faced during the insolvency process. The company's accumulated losses stood at ₹21,906.99 lakh, which has completely eroded its paid-up equity capital of ₹3,138.49 lakh. The company's liabilities exceeded its total assets by ₹18,768.50 lakh, indicating significant financial distress.

Resolution Professional Management

Ms. Rachna Jhunjhunwala continues to serve as Resolution Professional with IBBI Registration Number IBBI/IPA-001/IP-P00389/2017-18/10707, having replaced Mr. Subodh Kumar Agrawal as Interim Resolution Professional. The transition was formalized through NCLT order dated January 13, 2026, received on February 4, 2026, ensuring continuity in the Corporate Insolvency Resolution Process management.

Liquidation Basis Accounting and Going Concern

The financial results have been prepared on a liquidation basis rather than going concern, reflecting the company's current circumstances under CIRP. Assets are measured at the lower of carrying amount and estimated net realizable value, while liabilities are stated at their estimated settlement amounts. This approach provides stakeholders with a more realistic assessment of the company's financial position during the resolution process.

Outstanding Guarantees and Contingent Liabilities

BIL Vyapar maintains significant exposure through corporate guarantees and letters of comfort provided to erstwhile subsidiaries. The company has outstanding liability of ₹8,025 lakh to banks and financial institutions on behalf of Edayer Zinc Limited, and ₹5,171.20 lakh for BIL Infratech Limited. The company has maintained provision for loss allowances amounting to ₹2,149.10 lakh as required by Ind AS 109.