Baron Infotech Ltd. Explains Delays in Financial Filings Amid Corporate Insolvency Resolution Process

Baron Infotech Ltd. Explains Delays in Financial Filings Amid Corporate Insolvency Resolution Process​

Baron Infotech Limited has provided an update regarding the preparation and filing of its financial results for the period ended March 31, 2026, citing complications arising from the ongoing Corporate Insolvency Resolution Process (CIRP). The company stated that the delay in submitting these financials is neither intentional nor willful but is directly attributable to judicial intervention under the Insolvency and Bankruptcy Code (IBC), 2016.

Baron Infotech Limited is currently undergoing CIRP before the National Company Law Tribunal (NCLT) Hyderabad Bench. The process has encountered significant procedural complexities, including an order dated December 8, 2015, from the NCLT. This order directed the replacement of the existing Resolution Professional and mandated the appointment of a new Resolution Professional due to procedural irregularities identified in conducting the CIRP.

The company confirmed that the data required for preparing the financial results is currently undergoing collation, verification, and reconciliation by the newly appointed Resolution Professional. The financials will only be filed after proper verification to ensure accuracy.

According to Baron Infotech Limited, the delay is primarily due to circumstances arising from judicial intervention under the IBC. They noted that Section 238 of the IBC places an overriding mandate on all compliance during this period, requiring alignment with the directions of the adjudicating authority.

Operational and Financial Status​

The company also highlighted difficulties related to historical data management. The previous management failed to provide necessary information pertaining to the period prior to the commencement of CIRP. This has resulted in a delay in preparing and finalizing accounts for the period covered under CIRP, consequently leading to non-disclosure of quarterly financial statements up to December 2015.

In response to these matters, the Resolution Professional is actively submitting event based reporting, such as notifications related to past Board meetings, and is undertaking expeditious steps to complete all necessary reporting within a short and reasonable timeframe.

The current status of CIRP before the NCLT Hyderabad Bench remains focused on the approval of the resolution plan and related matters. The company assured that any further material developments will be communicated to stakeholders accordingly.

Stock Price Movement​

Baron Infotech Ltd shares settled on Monday at ₹1.73, registering zero percentage change for the stock. The equity remained completely flat throughout the trading day, as both the high and low registered identically at ₹1.73.