| Remarks (website dissemination) |
The Company went into Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016 vide an order of the Hon'ble National Company Law Tribunal, Ahmedabad Bench, dated 21st July, 2017 and Mr. Kuldeep Verma was appointed as Resolution Professional. In term of Section 17 of the Code, the power of the Board of Directors of KSOILS stood suspended and the same are being exercised by the Resolution Professional.After that the Company was delisted by the NSE notice issued on April 27, 2018 and BSE notice issued on May 05, 2018 during the moratorium period and contravention of the provisions under Section 14 of the Code.Further RP did not receive any Resolution Plan, then filed an application for liquidation. The NCLAT has passed the order of liquidation, and the RP was appointed as liquidator. After following the due process of law as prescribed under Code and read with Regulations, 2016, the liquidator successfully conducted the E-Auction for sale of K.S. Oils Limited, wherein the bid submitted by Soy-Sar Edible Private Limited was the highest and accordingly, SEPL was declared as the successful bidder for acquisition of K.S. Oils Limited. SEPL has approached this Hon'ble Adjudicating Authority seeking the certain directions, approvals, reliefs and concession which are necessary for effectuating and facilitating the transfer of the Corporate Debtor as a going concern and the same NCLT, Indore Bench has passed the order dated February 03,2025. The Board was re-constituted by the Liquidator in their meeting held on 07.02.2025 pursuant to NCLT order dated 03.02.2025.By way of its order dated 03rd February, 2025, the Hon'ble NCLT allowed relisting of Equity Shares of KSOILS in both the NSE and BSE, and subsequently, KSOILS filed an application to the stock exchange for relisting on March 15, 2025. Pursuant to such application, KSOILS received a circular dated April 30, 2025 from BSE and NSE stating that the Company's status would be changed from Delisted to Suspended w.e.f. May 05, 2025.In CIRP Period, financials have not been prepared by Liquidator from 2017-18 to 2023-24, after takeover of the company w.e.f 07.02.2025, the new management of K.S. Oils is in process of comply the all compliance and prepared the Financial result for the following periods and a meeting of the board of directors is scheduled on Thursday 31st July, 2025:1.To consider and approve the Un-Audited & Audited (Standalone) Financial Result (Quarterly & Annually) of the Company for the FY 2017-18 to 2024-25;2.to consider and approve the Un-Audited (Standalone) Financial Result of the Company for the 1st Quarter ended June 30, 2025. |