SKIL Infrastructure Limited has completed its fourth Committee of Creditors (CoC) meeting on March 05, 2026, resulting in a significant development for prospective resolution applicants. The meeting, conducted through virtual mode from 5:00 PM to 5:35 PM, saw CoC members approve a crucial two-week extension for resolution plan submissions.

Resolution Plan Deadline Extension

Following multiple requests from Prospective Resolution Applicants, the CoC members granted a two-week extension to the submission deadline, effective from March 6, 2026. This decision provides additional time for interested parties to prepare comprehensive resolution proposals for the infrastructure company.

CIRP Timeline and Current Status

The company's insolvency journey began when the Hon'ble National Company Law Tribunal (NCLT) Mumbai admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, through an order dated February 1, 2024. This decision initiated the CIRP proceedings and led to the appointment of Purusottam Behera as the Interim Resolution Professional (IRP), who later became the Resolution Professional.

The proceedings faced a temporary setback when an appeal was filed before the Hon'ble National Company Law Appellate Tribunal (NCLAT) in the matter of Bhavesh Gandhi vs. Amluckie Investment Company Ltd. During the appeal's pendency, the NCLAT issued an interim order on February 12, 2024, staying the constitution of the Committee of Creditors (CoC).

Resolution Professional Management

Purusottam Behera continues to serve as the Resolution Professional with IBBI Registration No. IBBI/IPA-002/IP-N00940/2019-20/12993, with his AFA remaining valid until December 31, 2026. The Resolution Professional has maintained regular communication with stock exchanges through post facto intimations under Regulation 30 of the SEBI (LODR) Regulations, 2015.

Ongoing Compliance Challenges

The company continues to face compliance challenges, including its recent inability to submit mandatory financial results for the quarter ended December 31, 2025. The statutory auditors of SKIL Infrastructure Limited, who had previously cooperated in finalizing financial results for quarters ended March 31, 2024, and June 30, 2024, subsequently declined to proceed with finalizing accounts unless their outstanding past dues were cleared.

The Resolution Professional filed a non-cooperation application under Section 19 of the IBC, being IA No. 4015 of 2025, before the Hon'ble NCLT on August 23, 2025. The statutory auditors later expressed willingness to cooperate via email dated October 31, 2025.

SKIL Infrastructure Limited has formally notified both NSE and BSE that it will not be submitting the Integrated filing (Governance) Report for the quarter ended December 31, 2025, due to its ongoing status under the Corporate Insolvency Resolution Process (CIRP). The company cited regulatory exemptions available to entities undergoing insolvency proceedings as the basis for non-compliance with standard governance filing requirements.

CIRP Timeline and Current Status

The company's insolvency journey began when the Hon'ble National Company Law Tribunal (NCLT) Mumbai Bench admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, through its order dated February 1, 2024. This order formally commenced the CIRP proceedings and appointed Purusottam Behera as the Interim Resolution Professional (IRP).

Legal Proceedings and Appeals

Following the initial CIRP order, an appeal was filed before the Hon'ble National Company Law Appellate Tribunal (NCLAT) in the matter of Bhavesh Gandhi vs. Amluckie Investment Company Ltd., designated as Company Appeal (AT) (Ins.) No. 244 of 2024. During the pendency of this appeal, the NCLAT issued an interim order on February 12, 2024, staying the constitution of the Committee of Creditors (CoC).

The legal landscape changed significantly when the NCLAT Principal Bench, New Delhi, through its order dated October 15, 2025, vacated the stay and permitted withdrawal of the appeal. This development enabled the constitution of the CoC, which received subsequent approval from the NCLT.

Committee of Creditors and Resolution Professional Appointment

With the interim stay lifted, the Committee of Creditors was formally constituted and held its first meeting on November 3, 2025. During this inaugural meeting, the CoC members approved the appointment of Purusottam Behera, who had been serving as Interim Resolution Professional, to the role of Resolution Professional (RP).

Regulatory Exemptions Under SEBI LODR

SKIL Infrastructure Limited's non-submission of the governance report is legally supported by specific SEBI regulations. The company is exempted under Regulations 15(2A) and 15(2B) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, from complying with Regulations 17 to 21 of the same framework.

These exemptions specifically relieve companies under CIRP from filing Corporate Governance reports under Regulation 27 of SEBI (LODR), 2015, acknowledging the unique operational constraints faced by entities undergoing insolvency resolution.

Company Details and Professional Information

SKIL Infrastructure Limited, incorporated with CIN L36911MH1983PLC178299, trades on NSE under the symbol SKIL and on BSE with scrip code 539861. The Resolution Professional, Purusottam Behera, holds IBBI Registration No. IBBI/IPA-002/IP-N00940/2019-20/12993, with AFA validity extending till December 31, 2026.