On November 14, 2025, Shirpur Gold Refinery Limited announced a significant delay in the submission of its financial results for the quarter ended September 30, 2025. This announcement is rooted in the ongoing Corporate Insolvency Resolution Process (CIRP) that began following an order from the National Company Law Tribunal on June 24, 2024. The appointed Interim Resolution Professional (IRP) faces challenges in completing the financial accounts due to unresolved issues with the suspended board of directors, which have impeded the timely preparation of the financial results as mandated by the Securities and Exchange Board of India (SEBI) LODR Regulations, 2015.

The IRP, tasked with fulfilling the responsibilities typically held by the board during insolvency proceedings, reported that despite diligent efforts, the compilation of records—both physical and electronic—has been hindered by unforeseen circumstances. As a result, the resolution professional is unable to provide the unaudited financial results for both standalone and consolidated accounts within the required timeframe. This delay reflects ongoing complexities in the financial accounting processes, highlighting the challenges faced by companies undergoing insolvency.

The situation underscores the implications of the Insolvency and Bankruptcy Code, 2016, which temporarily suspends certain regulatory obligations during the insolvency resolution process. With the first Committee of Creditors meeting held on July 24, 2024, and subsequent appointments solidifying the role of the resolution professional, stakeholders remain concerned about the impact of these delays on the company’s financial health and investor confidence. As of now, the resolution professional has formally requested that the authorities take note of this situation, leaving Shirpur Gold Refinery’s financial future hanging in the balance.