Videocon Industries delays results; Cites CIRP complexities

Videocon Industries has announced a delay in the submission of its financial results for the quarter and nine months ended December 31, 2024, citing complexities arising from its Corporate Insolvency Resolution Process (CIRP). The company stated that delays are due to factors including personnel departures, lack of cooperation from former management, and difficulties in obtaining data from subsidiaries. An NCLAT order has stayed the NCLT approval order of Twin Star Technologies plan and there are appeals with Supreme Court and pending resolution. The company is working to finalise financial results for the quarters ended June 30, 2024 and September 30, 2024.