NewsStocksSetubandhan Infrastructure Fails to Submit Regulatory Reports Amid Ongoing Insolvency ProcessSetubandhan Infrastructure Fails to Submit Regulatory Reports Amid Ongoing Insolvency Process
Setubandhan Infrastructure Limited has informed stock exchanges of its inability to submit required compliance reports for Q3 2025 due to ongoing Corporate Insolvency Resolution Process (CIRP). The company, under CIRP since November 28, 2022, faces challenges after NCLT rejected a resolution plan in March 2025. An appeal is pending with NCLAT. Non-compliance issues include inability to submit shareholding pattern, reconciliation and share capital audit, compliance certificate from RTA, and investor complaints reports. This is due to non-payment of fees to depositories and RTA by previous management, resulting in suspension of shareholding data provision.
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Setubandhan Infrastructure Limited has informed stock exchanges of its inability to submit required compliance reports for the quarter ended September 30, 2025, due to its ongoing Corporate Insolvency Resolution Process (CIRP).
Key Developments
- The company has been under CIRP since November 28, 2022, following an application filed by the State Bank of India.
- The National Company Law Tribunal (NCLT) rejected a resolution plan in March 2025.
- An appeal against the rejection has been filed with the National Company Law Appellate Tribunal (NCLAT) in July 2025 and is pending adjudication.
Compliance Challenges
Setubandhan Infrastructure is unable to submit the following regulatory reports:
| Report Type | Regulation |
|---|---|
| Shareholding Pattern | Regulation 31 of SEBI (LODR) Regulations, 2015 |
| Reconciliation and Share Capital Audit | Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018 |
| Compliance Certificate from RTA | Regulation 74(5) of SEBI (D&P) Regulations, 2018 |
| Investor Complaints | Regulation 13(3) of SEBI LODR Regulations, 2015 |
Reasons for Non-Compliance
The company attributes its inability to submit these reports to:
- Non-payment of outstanding fees to depositories (NSDL and CDSL) and the Registrar and Transfer Agent (RTA) by the previous management.
- Consequent suspension of shareholding data provision by NSDL, CDSL, and RTA.
Exemptions
Setubandhan Infrastructure is exempt from filing corporate governance reports under Regulations 17 to 21 of SEBI (LODR), 2015, due to its ongoing CIRP status.
The company's Resolution Professional, Sandeep D. Maheshwari, has requested the stock exchanges to take this information on record, citing the unique circumstances surrounding the company's insolvency process.
As the insolvency proceedings continue and the appeal remains pending with NCLAT, stakeholders and potential investors should remain cautious and stay updated on further developments regarding Setubandhan Infrastructure's regulatory compliance and financial status.
Historical Stock Returns for Setubandhan Infrastructure
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.08% | +2.08% | -5.77% | -34.67% | -42.35% | -24.62% |
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