SKIL Infrastructure Limited has informed the stock exchanges that it is unable to submit the Disclosure of Encumbered Shares under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, for the financial year ended March 31, 2026. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) since February 1, 2024, following an order by the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench. Due to the ongoing CIRP and a lack of available funds, the company has been unable to coordinate with the necessary intermediaries and promoters to fulfill this compliance requirement. The promoters who are unable to provide the necessary information include Nikhil Prataprai Gandhi, Sudipan Bhaduri, Jay Mehta, Ketan Shah (Trustees of HCWLL Trust and FDLL Trust), Rupali Gandhi, Bhavesh Prataprai Gandhi, Neha Gandhi, Prataprai Shivlal Gandhi, and Pranay Mehta. Intermediaries such as MUFG Intime India Pvt Ltd (RTA), NSDL, CDSL, National Stock Exchange, and BSE are also involved in this inability to comply. The company's situation is further complicated by legal proceedings, including an interim stay on the Committee of Creditors (CoC) constitution, which was later vacated by the Hon'ble National Company Law Appellate Tribunal (NCLAT) on October 15, 2025. The CoC was subsequently constituted, and Mr. Purusottam Behera, the Interim Resolution Professional (IRP), was approved as the Resolution Professional (RP) in the First Committee of Creditors meeting held on November 3, 2025. Mr. Purusottam Behera, the Resolution Professional, has requested that these peculiar facts and circumstances be taken on record by the stock exchanges.
