VAS Infrastructure Limited has notified BSE regarding the upcoming consideration of its resolution plan by the National Company Law Tribunal (NCLT) Mumbai Bench. The company, currently undergoing Corporate Insolvency Resolution Process (CIRP), has scheduled a crucial hearing for March 06, 2026.

NCLT Hearing Details

The Hon'ble NCLT Mumbai Bench (Court-II) has posted the matter for March 06, 2026, to consider the resolution plan submitted by Authum Investment & Infrastructure Limited under the Insolvency and Bankruptcy Code 2016. The proceedings are identified as IA no 41 of 2025.

Regulatory Compliance

The intimation was issued pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification was signed by Ashok Kumar Golechha, the Resolution Professional overseeing the CIRP proceedings for VAS Infrastructure Limited.

Current Status

VAS Infrastructure Limited remains under CIRP with Ashok Kumar Golechha serving as the Resolution Professional. His IBBI registration number is IBBI/IPA-002/IP-N000932/2019-20/12973, with AFA validity until December 31, 2026. The company has advised that the hearing is subject to the cause list of the Hon'ble NCLT Mumbai Bench.

The resolution plan consideration represents a significant step in the insolvency proceedings, as the tribunal will evaluate Authum Investment & Infrastructure Limited's proposal for the corporate debtor's revival.

VAS Infrastructure Limited has officially announced its Q3FY26 quarterly results for the quarter ended December 31, 2025, under Regulation 29 of SEBI (Listing Obligations & Disclosure Requirements), 2015. The company reported a notable financial turnaround despite operating under Corporate Insolvency Resolution Process (CIRP), with the RP Committee meeting held on February 12, 2026, approving the unaudited financial results.

Financial Performance Overview

The company achieved a significant improvement in its financial position during Q3FY26, moving from losses to profitability compared to the previous year's performance.

Revenue and Expense Analysis

The company's total income of ₹11.59 lakhs was generated entirely through other income, representing an 87.24% increase compared to ₹6.19 lakhs in Q3FY25. Total expenses were controlled at ₹9.70 lakhs compared to ₹11.76 lakhs in the corresponding quarter last year.

Nine-Month Performance

For the nine months ended December 31, 2025, the company showed substantial improvement with total income of ₹32.50 lakhs compared to ₹7.59 lakhs in the corresponding period last year, representing a 328.20% increase. The net loss reduced significantly to ₹6.94 lakhs from ₹40.42 lakhs, indicating an 82.83% improvement in operational efficiency.

Corporate Governance and CIRP Status

VAS Infrastructure continues to operate under CIRP following its admission to the National Company Law Tribunal (NCLT) on March 11, 2024, under Order no. C.P. (IB) 314/MB/2023. Resolution Professional Ashok Kumar Golechha (IBBI Registration No. IBBI/IPA-02/IP-N000932/2019-2020/12973) manages the company's affairs and carries out regulatory compliances.

Regulatory Compliance and Audit Report

The auditors, Satyaprakash Natan & Company, issued a qualified review report highlighting material uncertainty related to going concern, noting that the company is engaged with lenders for debt resolution planning. The company maintained clean regulatory records with no complaints pending, received, or unresolved as of December 31, 2025. The financial results were prepared in accordance with Indian Accounting Standards (Ind AS) and reviewed by the Audit Committee before RP Committee approval on February 12, 2026.

The equity share capital remained stable at ₹1,512.94 lakhs throughout the reporting periods, with the RP Committee meeting commencing at 3:35 p.m. and concluding at 4:00 p.m. on February 12, 2026.