Quadrant Televentures Limited has submitted an updated Form-G for Expression of Interest to BSE Limited on February 22, 2026, extending key deadlines in its ongoing Corporate Insolvency Resolution Process. The company, operating under the Connect Broadband brand, continues its insolvency proceedings following the NCLT order dated September 2, 2025.

Extended Timeline for Expression of Interest

The Resolution Professional has extended all critical deadlines for the Expression of Interest process to provide additional time for prospective resolution applicants. The updated Form-G reflects significant extensions across all phases of the resolution process.

Company Financial and Operational Status

According to the updated Form-G disclosure, Quadrant Televentures Limited reported revenue of ₹273.97 crores for the financial year 2024-25, representing the last available financial statements on record. The company maintains significant operational presence with approximately 982 employees on roll and 240 outsourced personnel as of January 27, 2026.

Corporate Insolvency Resolution Process Framework

The company entered CIRP under Section 7 of the Insolvency and Bankruptcy Code, 2016, following the National Company Law Tribunal order on September 2, 2025. Mr. Rajesh Jhunjhunwala serves as the Resolution Professional with IBBI Registration No. IBBI/IPA-003/IPN00457-C01/2017-2018/11102.

Corporate Structure and Asset Location

Quadrant Televentures Limited operates telecommunications and broadband services with the majority of its fixed assets located in Punjab and adjoining areas. The company maintains its corporate office at B-71, Phase-VII, Industrial Focal Point, Mohali-160055, Punjab, while the registered office is situated at Flat no. 8, B-Type, Sadafuli Building, Tirupati Park, Gurusahani Nagar, N-4, CIDCO, Aurangabad, Maharashtra-431001.

The updated Form-G submission was made under Regulation 30 read with Clause 16(h) of Para A of Part A of Schedule III of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, and was digitally signed by Company Secretary Umesh Prasad Srivastava on February 22, 2026.

Quadrant televentures Limited has released its unaudited financial results for the quarter and nine months ended December 31, 2025, showing a remarkable turnaround to profitability despite ongoing Corporate Insolvency Resolution Process (CIRP). The telecommunications services provider reported its first quarterly profit since entering insolvency proceedings in September 2025.

Financial Performance Overview

The company's financial metrics for the quarter ended December 31, 2025, demonstrate significant improvement in operational performance:

Nine-Month Performance Analysis

For the nine months ended December 31, 2025, Quadrant Televentures reported revenue from operations of ₹15,829.14 lakh, down from ₹18,024.25 lakh in the corresponding period of the previous year. The net loss for the nine months stood at ₹2,880.28 lakh compared to ₹22,740.54 lakh in the same period last year.

Corporate Insolvency Resolution Process Updates

The company continues under CIRP following the NCLT Mumbai order dated September 2, 2025. Key developments in the insolvency process include:

The Resolution Professional has published Form G on December 31, 2025, and republished on January 31, 2026, inviting Expressions of Interest (EOI) from prospective resolution applicants. Mr. Rajesh Jhunjhunwala replaced Mr. Atul Kumar Kansal, who resigned due to personal exigencies.

Regulatory Compliance and Audit Process

The financial results were taken on record by the Resolution Professional on February 14, 2026, with the process commencing at 7:30 PM and concluding at 8:20 PM. The results have been prepared in accordance with Indian Accounting Standards (Ind AS) and reviewed by statutory auditors M/s. SGN & Co., Chartered Accountants, New Delhi, under Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Expense Structure and Cost Management

The company's total expenses for Q3FY26 amounted to ₹4,693.46 lakh, significantly lower than ₹6,920.96 lakh in the previous quarter. Major expense categories included:

• Employee Benefits Expense: ₹1,167.85 lakh vs ₹1,173.10 lakh (Q2FY26)
• Finance Costs: ₹315.90 lakh vs ₹2,033.68 lakh (Q2FY26)
• Network Operating Expenditure: ₹1,510.91 lakh vs ₹1,619.26 lakh (Q2FY26)
• Sales and Marketing Expenses: ₹1,174.73 lakh vs ₹1,209.71 lakh (Q2FY26)

Financial Position and Moratorium Impact

Due to the moratorium under Section 14 of the Insolvency and Bankruptcy Code, the company has not provided finance costs totaling ₹1,746.52 lakh for the quarter and ₹2,297.19 lakh for the nine months ended December 31, 2025. Additionally, interest on unsecured loans amounting to ₹456.23 lakh for the quarter and ₹1,368.69 lakh for nine months has not been provided in the books of account.

Exceptional Items and Labour Code Impact

The company recognized an exceptional item of ₹287.54 lakh during the quarter related to employee benefits under the new Labour Codes. This impact is driven by regulatory changes in Social Security Code 2020, Occupational Safety Health & Working Conditions Code 2020, and Industrial Relations Code 2020.

Business Operations and Outlook

Quadrant Televentures operates in the telecommunications services sector, providing unified telephony services primarily in the Punjab telecom circle, including Punjab, Chandigarh, and Panchkula. The company continues operations as a going concern during the CIRP period, with the Resolution Professional managing affairs in consultation with the Committee of Creditors. The financial results have been prepared on a going concern basis with a view to company revival through the resolution plan process.