Kohinoor Foods Limited , a prominent player in the Indian food industry, has announced a significant change in its top management. Pradeep Goswami, the company's Chief Financial Officer (CFO) and Key Managerial Personnel, has tendered his resignation, effective from the close of business hours on November 17, 2025.

Resignation Details

The company disclosed this information in a regulatory filing, stating that Goswami's decision to step down was voluntary and attributed to personal reasons. The management has accepted his resignation and plans to address the matter in an upcoming Board Meeting.

Key Points of the Resignation

Company's Response

Kohinoor Foods Limited has acknowledged Goswami's contribution to the organization. In his resignation letter, Goswami expressed gratitude for the opportunity, stating, "I am thankful to you for giving me the opportunity to have great experience and learning with this organization, your guidance and for having trust and confidence in me at all times."

Regulatory Compliance

The company has assured that it will comply with all necessary regulations regarding this change in key management personnel. As per the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015, Kohinoor Foods has made the required disclosures to the stock exchanges.

Looking Ahead

Kohinoor Foods has not provided any information about a successor or the impact of this change on their financial strategy. Stakeholders will likely be watching closely for any further announcements regarding the CFO position and any potential shifts in the company's financial management approach.

Kohinoor Foods Limited , a prominent player in the food products industry, has released its unaudited financial results for the quarter ended September 30, revealing ongoing financial challenges and efforts to restructure its debt.

Financial Performance

The company's standalone financial results show a continued struggle with profitability. Specific revenue and profit figures for the quarter are not provided in the available data.

Debt Restructuring and One-Time Settlement

Kohinoor Foods has entered into a One-Time Settlement (OTS) agreement with its consortium of lenders. As per the terms of the revised OTS:

• The company was required to pay a total of Rs. 227.45 crores.
• To date, Kohinoor Foods has deposited Rs. 205.00 crores with the banks.
• An outstanding amount of Rs. 40.11 crores to PNB-Dubai and Rs. 13.21 crores to PNB remains under consideration for settlement.

The company has requested an extension until December 30 for the payment of the balance amount. However, two member banks among the consortium lenders have expressed their inability to comply with this request, citing non-compliance with the original settlement terms.

Asset Demonetization

As part of its debt restructuring efforts, Kohinoor Foods has:

• Proposed to demonetize its rice manufacturing unit.
• Received a full consideration amount of Rs. 190.00 crores from a buyer for this unit.
• Handed over possession of the unit to the buyer, although the sale deed is still pending.

The company plans to continue its rice manufacturing operations on a lease basis at Kandla, Gujarat, to sustain its business operations.

Legal Proceedings

Kohinoor Foods is currently facing several legal challenges:

• The Debt Recovery Tribunal (DRT) Delhi has passed an order directing the company to pay Rs. 926.13 crores to its banks.
• Secured creditors have filed petitions under Section 7 of the Insolvency and Bankruptcy Code, 2016, which are yet to be admitted by the NCLT, Chandigarh Bench.
• The company is contesting various attachment orders and execution petitions filed by vendors and creditors.

Interest Provisions

The company has not provided for interest on bank loans classified as non-performing assets (NPAs):

• Unprovided interest amounts to Rs. 3,723.80 lacs for the quarter.
• Cumulative unprovided interest stands at Rs. 80,595.02 lacs from the date the loans were classified as NPAs.

Additionally, interest related to a revoked corporate guarantee for a U.S. subsidiary has not been provided, amounting to Rs. 78.85 lacs for the quarter and Rs. 1,363.04 lacs cumulatively.

Going Concern Assessment

Despite these challenges, the management assesses that Kohinoor Foods continues to be a going concern. This assessment is based on:

• The sanction of the revised One-Time Settlement by the lead bank.
• Interest shown by potential buyers for the company's assets.
• Provision of interest on the OTS amount, totaling Rs. 590.82 lacs up to September.

Conclusion

Kohinoor Foods Limited continues to navigate a complex financial landscape, balancing debt restructuring efforts with ongoing legal challenges. The company's ability to complete its one-time settlement with lenders and successfully restructure its operations will be crucial for its future stability and growth prospects.

Investors and stakeholders will be closely watching the company's progress in resolving its financial obligations and legal issues in the coming months.