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India NCLT Insolvency Resolution Filings — May 25, 2026

India Corporate Insolvency & NCLT

By Gunpowder Editorial ·

8 high priority 16 medium priority 24 total filings analysed

Executive Summary

The May 25, 2026 filing batch presents a bifurcated market landscape: robust operational performance from select auto and energy majors contrasts sharply with a deepening insolvency crisis across several companies.

TVS Motor's 51% TSR and 30% revenue growth highlight a consumer durable powerhouse, while ONGC's strategic partnership with BP targets a significant production uplift, signaling a positive outlook for India's energy security. However, the insolvency track is alarming, with four companies (BIL Vyapar, Compuage Infocom, Quadrant Televentures, KSS Ltd) actively in CIRP, and their CoC meetings and resolution attempts indicate a protracted and complex resolution process. AYM Syntex's NCLT-approved amalgamation provides a rare positive restructuring signal. Capital allocation is mixed: Wipro's massive ₹15,000 Cr buyback signals strong management confidence, while Delhivery's compliance lapse and related-party transaction issues raise governance concerns. The absence of insider trading activity across all filings is notable, potentially indicating a wait-and-see approach by management. The key portfolio-level trend is a divergence between high-growth, cash-rich companies returning capital and distressed entities fighting for survival, creating a clear 'barbell' investment opportunity.

Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →

Filing types in this digest: Company update · Insolvency

Tracking the trend? Catch up on the prior India NCLT Insolvency Resolution Filings digest from May 24, 2026.

Investment Signals (10)

  • TVS Motor ↓ (BULLISH)
    ▲

    #1 global in durable goods TSR (51% CAGR 2021-25), record sales of 5.89M units (+24% YoY), revenue ₹47,270 Cr (+30% YoY), operating PBT ₹4,975 Cr (+40% YoY). Strong momentum in premium valuation and revenue growth.

  • Wipro ↓ (BULLISH)
    ▲

    Announced ₹15,000 Cr buyback (5.72% equity) at ₹250/share, a 15.22% premium over 60-day VWAP. Record date June 5, 2026. This is a strong signal of undervaluation and management confidence.

  • ONGC (BULLISH)
    ▲

    Selected BP as Technical Services Provider for Western Offshore fields, targeting ~10.8% increase in crude oil and ~31.5% increase in gas over ten years. Benefits visible from FY'27, full scale by FY'30.

  • Ashok Leyland ↓ (BULLISH)
    ▲

    Secured a 715-vehicle order from VRL Logistics (300 already delivered). Order includes AVTR 3120 and BOSS 1615 trucks, reinforcing its position in the commercial vehicle upcycle.

  • Apollo Hospitals ↓ (BULLISH)
    ▲

    NCLT meetings scheduled for June 24, 2026, to approve a composite scheme of arrangement involving Apollo Healthco, Keimed, and Apollo Healthtech. This is a major corporate restructuring catalyst.

  • AYM Syntex ↓ (BULLISH)
    ▲

    Shareholders and unsecured creditors approved the Scheme of Amalgamation with Mandawewala Enterprises on May 25, 2026. This NCLT-driven consolidation is a positive step for the company's future.

  • ICICI Bank ↓ (NEUTRAL)
    ▲

    Allotted 253,442 equity shares under ESOP, a routine but consistent signal of employee retention and alignment.

  • Yes Bank ↓ (NEUTRAL)
    ▲

    Allotted 3,57,741 shares under ESOP/RSU plans, indicating ongoing employee incentive programs post-restructuring.

  • Delhivery ↓ (BEARISH)
    ▲

    Annual Secretarial Compliance Report flagged a delayed RPT submission (fine ₹11,800) and a ₹1.70 Cr RPT with Ecom Express without prior approval. While minor, it indicates governance lapses.

  • Maruti Suzuki ↓ (BEARISH)
    ▲

    CCI matter hearing adjourned to May 27, 2026. Continued regulatory uncertainty is a near-term overhang.

Risk Flags (8)

  • Compuage Infocom/CIRP↓ [HIGH RISK]
    ▼

    CoC meeting on May 14 approved a settlement from debtor BK Enterprises. The company has been under CIRP since April 29, 2024 (over 2 years), indicating a deeply distressed and prolonged resolution process.

  • Quadrant Televentures/CIRP↓ [HIGH RISK]
    ▼

    Tenth CoC meeting scheduled for May 26, 2026. Admitted to CIRP on September 2, 2025. The repeated CoC meetings suggest difficulty in reaching a consensus on a resolution plan.

  • BIL Vyapar/CIRP↓ [HIGH RISK]
    ▼

    Twelfth CoC meeting scheduled for May 29, 2026. The company (formerly Binani Industries) has been in CIRP for an extended period, with 12 meetings indicating a highly complex and likely contested resolution.

  • KSS Ltd/CIRP↓ [HIGH RISK]
    ▼

    Board meeting on May 29 to approve FY26 results. CIRP initiated in January 2023 (over 3 years). The prolonged process and lack of a resolution plan are major red flags for equity holders.

  • Delhivery/Governance↓ [MODERATE RISK]
    ▼

    Delayed submission of related party transactions and a ₹1.70 Cr transaction without prior approval. While the fine is small, the pattern of non-compliance with SEBI LODR norms is a governance risk.

  • Maruti Suzuki/Regulatory↓ [MODERATE RISK]
    ▼

    CCI matter hearing adjourned to May 27. The outcome of this competition case could have implications for the company's dealer and pricing practices.

  • Apollo Hospitals/Execution↓ [MODERATE RISK]
    ▼

    The NCLT scheme of arrangement is conditional on approval from 75% of shareholders and public shareholders. Any failure to secure these approvals would be a setback.

  • No Insider Activity [LOW RISK]
    ▼

    Across all 24 filings, there is zero reported insider trading activity (buying or selling). This could indicate that management is waiting for more clarity on macro/micro conditions before making significant moves.

Opportunities (8)

  • ONGC/Production Catalyst (OPPORTUNITY)
    ◆

    BP's technical expertise is expected to boost Western Offshore production by ~10.8% (crude) and ~31.5% (gas) over ten years. With benefits starting FY'27, this is a multi-year production growth story for India's largest E&P company.

  • Wipro/Buyback Arbitrage↓ (OPPORTUNITY)
    ◆

    The ₹15,000 Cr buyback at ₹250/share (15.22% premium over 60-day VWAP) offers a near-term arbitrage opportunity for shareholders. Record date June 5, 2026; ADS holders must convert by June 2.

  • TVS Motor/Global Recognition↓ (OPPORTUNITY)
    ◆

    Ranked #1 globally for TSR in durable goods. With 51% TSR CAGR and 40% PBT growth, the company is a compounding machine. Any pullback due to broader market weakness is a buying opportunity.

  • Ashok Leyland/CV Upcycle↓ (OPPORTUNITY)
    ◆

    The 715-vehicle order from VRL Logistics is a strong indicator of demand in the commercial vehicle segment. With 415 more vehicles to be delivered this year, revenue visibility is improving.

  • Apollo Hospitals/Restructuring Play↓ (OPPORTUNITY)
    ◆

    The composite scheme of arrangement could unlock significant value by streamlining operations across Apollo Healthco, Keimed, and Apollo Healthtech. The NCLT meeting on June 24 is a key catalyst.

  • AYM Syntex/Amalgamation Completion↓ (OPPORTUNITY)
    ◆

    The successful approval of the Scheme of Amalgamation with Mandawewala Enterprises is a positive step. Post-merger, the combined entity could benefit from synergies and a stronger balance sheet.

  • ICICI Bank/ESOP Signal↓ (OPPORTUNITY)
    ◆

    Consistent ESOP allotments (253,442 shares) indicate a stable employee base and long-term incentive alignment. The bank's participation in the 360 ONE Capital conference on May 29 could provide further positive cues.

  • Tata Motors/Investor Meet↓ (OPPORTUNITY)
    ◆

    Physical group meeting with analysts on May 28, 2026. While no material info was shared, the meeting could provide positive color on JLR and domestic demand, especially given the recent CV upcycle.

Sector Themes (6)

  • Auto Sector Divergence
    ◆

    TVS Motor (51% TSR, 30% revenue growth) and Ashok Leyland (715-vehicle order) show strong momentum, while Maruti Suzuki faces regulatory headwinds (CCI case). The sector is bifurcated between high-growth 2W/CV players and legacy passenger vehicle makers under scrutiny.

  • Insolvency Crisis Deepens
    ◆

    Four companies (BIL Vyapar, Compuage Infocom, Quadrant Televentures, KSS Ltd) are actively in CIRP, with multiple CoC meetings indicating prolonged and complex resolution processes. This highlights the ongoing stress in the corporate bond market and the slow pace of IBC resolutions.

  • Capital Allocation: Buybacks vs. Distress
    ◆

    Wipro's ₹15,000 Cr buyback contrasts sharply with the insolvency filings. Cash-rich companies are aggressively returning capital, while distressed entities are fighting for survival. This 'barbell' effect is a key portfolio construction theme.

  • Energy Sector Revival
    ◆

    ONGC's partnership with BP for Western Offshore fields signals a strategic shift towards enhanced oil recovery (EOR) and production optimization. This could be a template for other PSUs to improve operational efficiency.

  • Governance Scrutiny Intensifies
    ◆

    Delhivery's compliance lapse, though minor, is a reminder of increasing SEBI scrutiny on related party transactions and timely disclosures. Companies with weak internal controls will face higher regulatory risk premiums.

  • NCLT-Driven Restructuring as a Catalyst
    ◆

    Apollo Hospitals and AYM Syntex are pursuing NCLT-approved schemes of arrangement/amalgamation. These court-monitored processes, while complex, can be powerful catalysts for value creation if executed successfully.

Watch List (8)

  • Maruti Suzuki/CCI Hearing↓
    👁

    Next hearing on May 27, 2026. Outcome could impact dealer agreements and pricing flexibility. Watch for any adverse orders.

  • Wipro/Buyback Record Date↓
    👁

    June 5, 2026. ADS holders must convert by June 2. Monitor for any changes in share price dynamics as the record date approaches.

  • Apollo Hospitals/NCLT Meetings↓
    👁

    June 24, 2026 (Equity Shareholders, Secured Creditors). The outcome of the vote on the composite scheme is a major catalyst for the stock.

  • Quadrant Televentures/CoC Meeting↓
    👁

    Tenth CoC meeting on May 26, 2026. Any news of a resolution plan or extension of CIRP will be material.

  • BIL Vyapar/CoC Meeting↓
    👁

    Twelfth CoC meeting on May 29, 2026. A resolution plan or liquidation recommendation could emerge.

  • KSS Ltd/Financial Results↓
    👁

    Board meeting on May 29, 2026, to approve FY26 results. Given the company is in CIRP, the results will provide a snapshot of the business's viability.

  • ONGC/BP Partnership
    👁

    Benefits expected from FY'27. Watch for any updates on the implementation timeline and initial production data from the Western Offshore fields.

  • Ashok Leyland/Earnings Call↓
    👁

    Revised to 16:00 IST on May 28, 2026. The 4QFY26 call will provide crucial guidance on the CV cycle and order book momentum.

Filing Analyses (24)
TVS Motor Company Limited Company Update positive materiality 8/10

25-05-2026

TVS Motor Company has been ranked #1 globally in the 'Durable Consumer Goods' category by WirtschaftsWoche and BCG for shareholder value creation, delivering an average annual Total Shareholder Return of approximately 51% over 2021-2025. In its most recent financial year (2025-26), the company achieved record annual sales of 5.89 million units (+24% YoY), revenue of Rs. 47,270 crore (+30% YoY), and operating PBT of Rs. 4,975 crore (+40% YoY). However, the press release does not disclose any negative or flat performance metrics, so the overall sentiment is positive.

  • · The BCG study evaluated over 2,000 listed companies across 35 industries worldwide.
  • · TVS Motor's TSR performance was driven by strong revenue growth (22 percentage points) and premium market valuation (18 percentage points).
  • · The company has four state-of-the-art manufacturing facilities in India and Indonesia.
  • · TVS Motor is the only two-wheeler company to have won the Deming Prize.
  • · The company has been ranked No. 1 in J.D. Power Customer Service Satisfaction Survey for four consecutive years.
  • · Norton Motorcycles, based in the UK, is part of the group.
Ashok Leyland Limited Company Update positive materiality 6/10

25-05-2026

Ashok Leyland announced an order for 715 vehicles from VRL Logistics, including AVTR 3120 haulage trucks, BOSS 1615 trucks, and Oyster staff buses. Deliveries are progressing with 300 trucks already delivered and the remaining 415 scheduled for execution in the current year. The order deepens a decades-long partnership and reinforces Ashok Leyland's position as a trusted mobility partner.

  • · The order includes AVTR 3120 haulage trucks, BOSS 1615 trucks, and Oyster staff buses.
  • · 300 trucks already delivered; remaining 415 scheduled for execution in the current year.
  • · The trucks are equipped with state-of-the-art features and advanced technologies to reduce maintenance downtime and enhance fleet efficiency.
TTK Prestige Limited Company Update positive materiality 3/10

25-05-2026

TTK Prestige Limited has submitted its Annual Secretarial Compliance Report for the year ended March 31, 2026, confirming compliance with all applicable SEBI regulations, including LODR, Insider Trading, and Depository regulations. The report, issued by Practicing Company Secretary Parameshwar G Hegde of Hegde & Hegde, Bengaluru, found no instances of non-compliance, no actions taken by SEBI or stock exchanges, and no resignations of statutory auditors during the review period.

  • · The report covers the period from April 1, 2025 to March 31, 2026.
  • · The company confirmed compliance with Secretarial Standards (SS) issued by ICSI.
  • · All applicable policies under SEBI Regulations were adopted and timely updated.
  • · The company maintains a functional website with timely dissemination of documents.
  • · No directors were disqualified under Section 164 of the Companies Act, 2013.
  • · The company identified material subsidiaries and complied with disclosure requirements.
  • · Prior approval of the Audit Committee was obtained for all related party transactions.
  • · All required disclosures under Regulation 30 of SEBI LODR were made within prescribed time limits.
  • · The company is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.
  • · No actions were taken by SEBI or Stock Exchanges against the company, its promoters, directors, or subsidiaries.
  • · No statutory auditor resigned from the company or its material subsidiaries during the year.
  • · The company complied with disclosure requirements for Employee Benefit Scheme documents per SEBI circular dated December 31, 2024.
  • · No additional non-compliances were observed for any SEBI regulation/circular/guidance note.
Apollo Hospitals Enterprise Limited Company Update neutral materiality 1/10

25-05-2026

Apollo Hospitals Enterprise Limited has informed the stock exchanges that the transcript of its presentation on audited financial results for Q4 and FY ended March 31, 2026, made on May 21, 2026, is now available on the company's website. This is a routine regulatory disclosure under SEBI LODR regulations and does not contain any financial figures or performance data.

  • · The transcript link is: https://www.apollohospitals.com/sites/default/files/2026-05/transcript-of-apollo-hospitals---q4-fy26-earnings-call.pdf
  • · Filing date: May 25, 2026
  • · Presentation date: May 21, 2026
  • · Regulation references: SEBI LODR Regulations 30 and 46(2)
ICICI Bank Limited Company Update neutral materiality 3/10

25-05-2026

ICICI Bank has allotted 253,442 equity shares of face value Rs.2 each under the Employees Stock Option Scheme-2000 on May 25, 2026. The allotment was approved by two Executive Directors under delegated authority from the Board.

  • · Allotment approved by two Executive Directors at 03:32 p.m. on May 25, 2026
  • · Delegated authority granted by Board of Directors at meeting held on October 21, 2023
ICICI Bank Limited Company Update neutral materiality 2/10

25-05-2026

ICICI Bank Limited has disclosed a schedule for participation in the 16th Annual Investor Conference organized by 360 ONE Capital (B&K) on May 29, 2026, to be held in-person. The bank's management will refer to publicly available documents for discussions during the meet. No financial figures, business updates, or performance comparisons were disclosed in this filing.

  • · Event is the 16th Annual Investor Conference organized by 360 ONE Capital (B&K)
  • · Mode of interaction: In-person
  • · Date of event: May 29, 2026
  • · Disclosure made under Regulation 30 and Regulation 46(2) of SEBI LODR Regulations, 2015
Apollo Hospitals Enterprise Limited Company Update neutral materiality 7/10

25-05-2026

Apollo Hospitals Enterprise Limited has published newspaper notices for NCLT-convened meetings of its equity shareholders, secured creditors, and unsecured creditors scheduled for June 24, 2026, to consider a composite scheme of arrangement involving Apollo Healthco Limited, Keimed Private Limited, and Apollo Healthtech Limited. The meetings will be held via video conferencing/other audio-visual means, with remote e-voting available. The scheme is conditional upon approval by a majority representing three-fourths in value of equity shareholders and also requires public shareholder approval under SEBI norms.

  • · Meetings scheduled for June 24, 2026: Equity Shareholders at 2:30 PM IST (VC/OAVM), Secured Creditors at 10:00 AM IST, Unsecured Creditors of Keimed at 3:00 PM IST on June 23, 2026.
  • · Cut-off date for voting eligibility for equity shareholders is June 17, 2026.
  • · Remote e-voting facility provided by NSDL; voting rights for unsecured creditors are in proportion to their total outstanding dues as on December 31, 2025.
  • · Scheme requires approval by a majority representing three-fourths in value of equity shareholders and also by public shareholders (votes in favour must exceed votes against).
  • · Notices published in Business Standard (English, All India) and Makkal Kural (Tamil, All Tamil Nadu) on May 23, 2026.
  • · NCLT has appointed Dr. K. S. Ravichandran as Chairperson and Mr. S. Vedhavel as Scrutinizer for the equity shareholders meeting.
Wipro Limited Company Update positive materiality 8/10

25-05-2026

Wipro Limited announced a buyback of up to 60,00,00,000 equity shares (5.72% of total paid-up equity) at ₹250 per share, aggregating ₹15,000 Crore. The buyback price represents a 15.22% premium over the 60-day VWAP and a 26.67% premium over the 10-day VWAP of ADSs on NYSE. The record date is June 5, 2026, and ADS holders must convert to equity shares by withdrawing ADSs at least three New York business days prior to the record date to participate.

  • · Buyback will be conducted via tender offer process on a proportionate basis.
  • · ADS holders must convert to equity shares by withdrawing ADSs at least three New York business days before the record date (June 5, 2026).
  • · Depositary fee for ADS cancellation is $0.05 per ADS.
  • · Equity shares withdrawn cannot be re-deposited into the ADR program.
  • · Buyback size represents 24.99% of standalone and 19.99% of consolidated paid-up capital and free reserves as per latest audited financials for year ended March 31, 2026.
Wipro Limited Company Update positive materiality 8/10

25-05-2026

Wipro Limited announced a buyback of up to 60 Crore equity shares (5.72% of total paid-up capital) at ₹250 per share, for an aggregate amount of up to ₹15,000 Crore. The buyback will be conducted via a tender offer process with a record date of June 5, 2026, and represents 24.99% and 19.99% of standalone and consolidated equity share capital plus free reserves, respectively. The buyback price offers a premium of 15.22% and 26.67% over the 60-day and 10-day volume-weighted average ADS prices, respectively.

  • · Record date for the buyback is June 5, 2026.
  • · ADS holders must submit ADSs for cancellation by 12:00 noon New York City time on June 2, 2026 to participate.
  • · Buyback will be conducted on a proportionate basis through the tender offer route under Indian regulations.
  • · The buyback price is ₹250 per share (approx. US$2.71 based on exchange rate of ₹92.25/$1 as of April 8, 2026).
  • · The buyback size excludes transaction costs such as brokerage, taxes, stamp duty, and advisory fees.
  • · Equity Shares withdrawn from ADS program cannot be re-deposited into ADR program.
  • · The company has over 240,000 employees and business partners across 65 countries.
Maruti Suzuki India Limited Company Update neutral materiality 3/10

25-05-2026

Maruti Suzuki India Limited informed stock exchanges that the Competition Commission of India (CCI) matter was heard on May 25, 2026, with arguments advanced on behalf of CCI. The hearing has been adjourned to May 27, 2026, for further arguments.

  • · The matter was earlier disclosed on May 11, 2026.
  • · Arguments were advanced on behalf of CCI during the hearing.
  • · Next hearing is scheduled for May 27, 2026.
Yes Bank Limited Company Update neutral materiality 3/10

25-05-2026

Yes Bank allotted 3,57,741 equity shares (face value ₹2 each) on May 25, 2026, upon exercise of stock options under YBL ESOS 2020 and YBL RSU Plan 2024. The bank realized ₹51,07,423.50 from the exercise, and paid-up capital increased from ₹62,771,059,012 to ₹62,771,774,494.

  • · The allotment was approved by the Nomination & Remuneration Committee.
  • · The face value of each equity share is ₹2.
  • · The bank's website hosts the weblink of the stock exchange filings.
Tata Motors Limited Company Update neutral materiality 2/10

25-05-2026

Tata Motors Limited has informed the stock exchanges about a physical group meeting scheduled with analysts and institutional investors on May 28, 2026. The meeting will involve multiple asset management companies and investment firms, with sessions at 10:00 AM and 2:00 PM. No financial results or material business updates were disclosed in this filing.

  • · Meeting date: May 28, 2026
  • · Two time slots: 10:00 AM (11 entities) and 2:00 PM (8 entities)
  • · Meeting is physical (in-person), not virtual
  • · Subject to change as noted by the company
Ashok Leyland Limited Company Update neutral materiality 1/10

25-05-2026

Ashok Leyland Limited has revised the timing of its 4QFY26 earnings conference call for analysts and investors to 16:00 IST on May 28, 2026. The call will be led by Managing Director & CEO Mr. Shenu Agarwal, CFO Mr. K.M. Balaji, and the Investor Relations team. No financial results or performance data are included in this filing.

  • · Original call timing was 15:30 IST; revised to 16:00 IST on May 28, 2026.
  • · Call is for 4QFY26 earnings discussion.
  • · Dial-in numbers provided for India, UK, USA, Singapore, and Hong Kong.
Larsen & Toubro Limited Company Update neutral materiality 3/10

25-05-2026

Larsen & Toubro Limited announced the categorization of Mr. V Sukumar Hebbar, Senior Vice President & IC Head - Transportation Infrastructure IC, under senior management effective May 25, 2026. Mr. Hebbar, a 36-year veteran of the company, has led multiple business segments and secured large data centre orders worth over ₹4,500 Cr from leading hyperscalers. The filing does not include any financial results or period-over-period comparisons, so no performance trends are available.

  • · Mr. Hebbar joined L&T as a Graduate Engineer Trainee on August 1, 1990.
  • · He is an Architecture graduate from Mysore University (1989) and an INSEAD alumnus.
  • · He played a pivotal role in building the Health Business unit from the ground up into one of the most profitable verticals.
  • · He championed innovation through technologies like 3D concrete printing, PPVC, and modular construction.
  • · Under his leadership, marquee projects such as Patna Medical College & Hospital, SCB Cuttack Hospital, Tata ACCF Cancer Hospitals, Ram Mandir, Navi Mumbai International Airport, and Kartavya Bhawan were won and executed.
BIL VYAPAR LIMITED Insolvency negative materiality 8/10

25-05-2026

BIL Vyapar Limited (formerly Binani Industries Limited) has informed the stock exchanges about the Twelfth meeting of the Committee of Creditors (CoC) to be held on May 29, 2026, under the Corporate Insolvency Resolution Process (CIRP). The company is currently undergoing insolvency proceedings, and the CoC meeting is a key step in the resolution process. No financial figures or period-over-period comparisons are provided in this filing.

  • · The twelfth meeting of the Committee of Creditors is scheduled for May 29, 2026.
  • · The company is in Corporate Insolvency Resolution Process (CIRP) as indicated by the filing.
  • · The company was formerly known as Binani Industries Limited.
Delhivery Limited Company Update mixed materiality 5/10

25-05-2026

Delhivery Limited has filed its Annual Secretarial Compliance Report for FY2026, confirming overall compliance with SEBI regulations. However, the report notes a delayed submission of related party transactions for the half year ended September 30, 2025, with NSE, resulting in a fine of ₹11,800 (inclusive of GST). Additionally, a related party transaction of ₹1.70 Crore with subsidiary Ecom Express Limited was entered without prior approval and subsequently ratified by the Audit Committee and Board.

  • · The secretarial compliance report was issued by M/s. Chandrasekaran Associates, Practicing Company Secretaries, for the financial year ended March 31, 2026.
  • · No previous report observations were applicable (S. No. (b) – Not Applicable).
  • · The company complied with Secretarial Standards, policy adoption and updates, website maintenance, director disqualification checks, subsidiary disclosures, document preservation, board performance evaluation, insider trading prohibitions, and employee benefit scheme document disclosures.
  • · No resignation of statutory auditor occurred during the review period.
  • · No additional non-compliances were observed beyond those reported.
Mahindra & Mahindra Limited Company Update neutral materiality 1/10

25-05-2026

Mahindra & Mahindra Limited has informed the exchanges of upcoming analyst and institutional investor meetings scheduled on June 2-3, 2026, including the BOFA 2026 India Conference in Mumbai, Morgan Stanley India Investment Forum 2026, and the Nomura Investment Forum Asia 2026 in Singapore. The company clarified that no unpublished price-sensitive information is proposed to be shared during these events.

  • · BOFA 2026 India Conference on 2nd June 2026 in Mumbai (09:00 a.m. to 05:00 p.m. IST) - One on One & Group Meet
  • · Morgan Stanley India Investment Forum 2026 - Keynote on 2nd June 2026 in Mumbai (03:00 p.m. to 04:00 p.m. IST) - Group Meet
  • · Nomura Investment Forum Asia 2026 on 2nd & 3rd June 2026 in Singapore (09:00 a.m. to 05:20 p.m. SGT) - One on One & Group Meet
  • · No unpublished price-sensitive information will be shared during these events
  • · The schedule and mode of meeting may change due to exigencies
AYM Syntex Limited Insolvency neutral materiality 6/10

25-05-2026

AYM Syntex Limited held a meeting of equity shareholders on May 25, 2026, convened pursuant to an NCLT order dated April 6, 2026, to consider and approve a Scheme of Amalgamation of Mandawewala Enterprises Limited (Transferor Company) with AYM Syntex Limited (Transferee Company). The meeting was conducted through video conferencing, and the resolution was passed under Section 230 of the Companies Act, 2013. No financial figures or performance metrics were disclosed in this filing.

  • · The meeting was held on May 25, 2026 at 12:00 P.M. IST through Video Conferencing / Other Audio Visual Means.
  • · The resolution approved the Scheme of Amalgamation of Mandawewala Enterprises Limited with AYM Syntex Limited under Sections 230 to 232 of the Companies Act, 2013.
  • · E-voting was kept open for 15 minutes after the meeting.
  • · The meeting concluded at 12:15 P.M. IST.
AYM Syntex Limited Insolvency neutral materiality 6/10

25-05-2026

AYM Syntex Limited held a meeting of equity shareholders on May 25, 2026, convened pursuant to NCLT order dated April 6, 2026, to consider and approve the Scheme of Amalgamation of Mandawewala Enterprises Limited (Transferor Company) with AYM Syntex Limited (Transferee Company). The meeting was conducted through VC/OAVM and the resolution was put to vote via remote e-voting and e-voting during the meeting. The meeting concluded at 12:15 PM IST.

  • · The meeting was held on May 25, 2026 at 12:00 PM IST through Video Conferencing / Other Audio Visual Means.
  • · The Scheme of Amalgamation involves Mandawewala Enterprises Limited merging into AYM Syntex Limited.
  • · The resolution was proposed under Section 230 of the Companies Act, 2013.
  • · E-voting was kept open for 15 minutes after the meeting.
  • · The meeting concluded at 12:15 PM IST.
AYM Syntex Limited Insolvency neutral materiality 5/10

25-05-2026

AYM Syntex Limited held a meeting of its Unsecured Creditors on May 25, 2026, convened pursuant to an NCLT order dated April 6, 2026, to consider and approve a Scheme of Amalgamation of Mandawewala Enterprises Limited (Transferor Company) with AYM Syntex Limited (Transferee Company) under Sections 230-232 of the Companies Act, 2013. The meeting was conducted via video conferencing, with the requisite quorum present, and the resolution was put to e-vote. No voting results or financial details are disclosed in this filing.

  • · The meeting was held on May 25, 2026 at 4:00 PM IST via Video Conferencing/OAVM.
  • · The meeting was convened pursuant to NCLT Mumbai Bench order dated April 6, 2026 in Company Scheme Application No. C.A.(CAA)/267(MB)2025.
  • · The sole resolution was to approve the Scheme of Amalgamation of Mandawewala Enterprises Limited with AYM Syntex Limited under Sections 230-232 of the Companies Act, 2013.
  • · Remote e-voting and e-voting during the meeting were provided; e-voting remained open for 15 minutes after the meeting.
  • · The meeting concluded at 4:15 PM IST.
  • · No voting results or creditor turnout figures are provided in this filing.
Compuage Infocom Limited Insolvency negative materiality 9/10

25-05-2026

Compuage Infocom Limited, currently under Corporate Insolvency Resolution Process (CIRP), has informed the stock exchanges that the Committee of Creditors (CoC) meeting held on May 14, 2026, approved two key resolutions via e-voting: a settlement proposed by debtor BK Enterprises and the appointment of Mr. Ashutosh Kumar for legal representation. The company's affairs are being managed by Resolution Professional Gajesh Labhchand Jain, appointed by the NCLT on April 29, 2024.

  • · The e-voting for the CoC meeting concluded at 6:00 PM IST on May 25, 2026.
  • · The settlement proposed by debtor BK Enterprises was approved by the CoC.
  • · Mr. Ashutosh Kumar was appointed for representation before the Judicial Magistrate of First Class, Patiala House, New Delhi.
  • · The company is under CIRP as per the Insolvency and Bankruptcy Code 2016, with the Resolution Professional managing its affairs, business, and assets.
  • · The NCLT order appointing the Resolution Professional was dated April 29, 2024, and received on May 9, 2024.
Quadrant Televentures Limited Insolvency negative materiality 8/10

25-05-2026

Quadrant Televentures Limited, which was admitted to Corporate Insolvency Resolution Process (CIRP) by the NCLT on September 2, 2025, has convened the Tenth meeting of its Committee of Creditors (CoC) for May 26, 2026. The filing provides no financial metrics or performance data for the period under CIRP.

  • · The company was admitted to CIRP under Section 7 of the Insolvency and Bankruptcy Code, 2016, on September 2, 2025.
  • · The Tenth meeting of the Committee of Creditors is scheduled for May 26, 2026.
  • · The filing is made under Regulation 30 of SEBI (LODR) Regulations, 2015.
KSS Ltd-$ Insolvency neutral materiality 6/10

25-05-2026

KSS Limited, undergoing Corporate Insolvency Resolution Process (CIRP) since January 2023, will hold a board meeting on May 29, 2026 to consider and approve audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The trading window remains closed until 48 hours after the results become public.

  • · CIRP was initiated by Hon’ble National Company Law Tribunal, Mumbai Bench order dated January 24, 2023.
  • · Powers of the Board of Directors are vested in the Resolution Professional, Mr. Dharmendra Dhelariya.
  • · Trading window closed since April 8, 2026 and will remain closed until 48 hours after the financial results are made generally available.
  • · The company's former name was K Sera Sera Limited.
Oil & Natural Gas Corporation Limited Company Update positive materiality 8/10

25-05-2026

ONGC has selected BP Exploration Services India Limited (BPXS), a BP subsidiary, as Technical Services Provider (TSP) for its Western Offshore fields (excluding Mumbai High) to enhance production. The TSP expects a ~10.8% increase in crude oil and ~31.5% increase in gas over ten years, with benefits visible from FY'27 and full scale by FY'30. This follows a similar TSP contract for Mumbai High field that has shown early production stabilization.

  • · ONGC accounts for about 75% of India’s domestic crude oil and natural gas production.
  • · Mumbai Offshore Basin comprises 43 blocks, with 28 under nomination regime and the rest under OALP/NELP/DSF.
  • · Mumbai High field contributes ~38% of total western offshore production (O+OEG).
  • · Preliminary data from Mumbai High TSP contract (BPXA) shows moderation of decline and production stabilization.
  • · TSP will receive fixed fee for first two years, then service fee based on percentage of net incremental revenue.
  • · Full-scale production increase visibility expected from FY'30.

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