Educomp Solutions Defers December 31, 2025, Results Filing Amid Ongoing CIRP Proceedings
· Free Press Journal
New Delhi: Educomp Solutions’ prolonged insolvency process is once again affecting its regulatory timelines, this time delaying its December 2025 quarterly financial results.
Insolvency Process Ongoing
The company remains under the Corporate Insolvency Resolution Process (CIRP) initiated by the National Company Law Tribunal (NCLT), Principal Bench, through an order dated May 30, 2017.
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Dr. Sanjeev Agarwal, bearing IP Registration no. IBBI/IPA-001/IP-00445/2016-17/1339, was first appointed as Interim Resolution Professional. Subsequently, by order dated September 12, 2017, the NCLT appointed Mahender Khandelwal, IP Registration no. IBBI/IPA-001/IP-P00033/2016-17/10086, as Resolution Professional. As per Sections 17 and 18 of the Insolvency and Bankruptcy Code, 2016, the powers of the board and management stand suspended and are vested with the Resolution Professional.
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After proceedings before the NCLT, NCLAT, and the Supreme Court over six years from September 2017 to October 2023, the NCLT, New Delhi Bench-II, approved a resolution plan on October 09, 2023.
However, the Successful Resolution Applicant did not implement the approved plan and instead filed an appeal before the NCLAT. The appellate tribunal later dismissed the appeal. By order dated November 23, 2023, the NCLT directed the Resolution Professional to act as caretaker until further orders regarding rebidding or liquidation. The company continues to operate under NCLT jurisdiction.
Audits Remain Incomplete
The company stated that audits for the quarters ended June 30, 2025 and September 30, 2025 have not been concluded. Without finalising those results, it is practically and legally not feasible to close the December 31, 2025 quarter. Outstanding payments to the statutory auditor have delayed audit support. The company is operating with skeletal resources and without financial support from creditors. Additionally, the chief financial officer has left, and finding a replacement remains challenging given the company’s CIRP status since May 2017.
AGM And Auditor Issue
The five-year term of the statutory auditor was due to end at the 31st AGM, which was to be held on or before September 30, 2025, but has not yet taken place. While the Resolution Professional, in consultation with lenders, has recommended appointing a new statutory auditor for the next five years, shareholder approval is pending. The company has sought exchange guidance on whether audits and limited reviews can proceed before such approval. Educomp said it is making all possible efforts to finalise the pending financial statements at the earliest.
Disclaimer: This article is based on a regulatory filing submitted by Educomp Solutions Limited to the stock exchanges. The article is intended for informational purposes only and should not be construed as financial, legal, or investment advice.