Housing Development and Infrastructure Ltd

Board Meeting Adjournment

• Board meeting scheduled on 13th April 2026 was adjourned
• Revised date for the meeting will be communicated later

Corporate Insolvency Resolution Process

• Company is under CIRP as per NCLT Mumbai order dated 20th August 2019
• Resolution Professional Mr. Abhay Narayan Manudhane manages company affairs

🗓️ Meeting Details

• Board meeting scheduled for 13 March 2026 at 2:30 p.m.

📊 Financial Performance

• Consideration and confirmation of standalone unaudited financial results for quarter and nine months ended 31 December 2025.

⚠️ Corporate Governance

• Company under Corporate Insolvency Resolution Process; powers vested in Resolution Professional.

Financial Performance

• Standalone unaudited financial results approved for quarter and half year ended 30 September 2025.
• Total income for half year ended 30 September 2025: Rs. 15,836 lakhs; net loss: Rs. 4,807 lakhs.
• Basic and diluted EPS for half year ended 30 September 2025: Rs. (0.10).
• Net cash from operating activities for half year ended 30 September 2025: Rs. 74,690 lakhs.

Corporate Insolvency Resolution Process (CIRP) ️

• Company under CIRP since August 2019; powers of Board vested in Resolution Professional (RP), Mr. Abhay Narayan Manudhane.
• RP signed financial results exercising Board powers under Section 17 of Insolvency and Bankruptcy Code.
• RP unable to provide consolidated financial results due to lack of data from five subsidiaries.
• CIRP extended till 27 June 2025; liquidation application filed by RP due to CIRP completion.
• Resolution plans for six vertical projects approved by Committee of Creditors; some pending NCLT approval.

Governance and Key Personnel Changes

• Three Non-Executive Independent Directors resigned; resignations not accepted by Committee of Creditors.
• Chief Financial Officer and Company Secretary resigned; key managerial personnel positions vacant.

Regulatory, Legal, and Auditor Matters ️

• Ongoing investigations by Enforcement Directorate, Economic Offences Wing, SFIO, and CBI; financial impact uncertain.
• RP filed application under Section 19(2) of IBC citing non-cooperation and operational challenges.
• Auditor issued disclaimer of opinion due to insufficient audit evidence and lack of information.
• Material uncertainty exists regarding company’s ability to continue as a going concern.
• Auditor unable to verify opening balances as of 1 April 2019; no impairment assessment on assets due to missing data.
• Provision of Rs. 1,78,285.53 lakhs created for doubtful trade receivables; bank reconciliations incomplete except one account.

Other Business Actions ️

• Board meeting held on 13 January 2026; only RP attended and signed results.
• Previous period figures regrouped/reclassified to conform to current period classification.

🗓️ Meeting Details

• Board meeting scheduled for 13th January 2026 at 2:30 p.m.

📊 Financial Results

• Consider and confirm standalone unaudited financial results for Q2 ended 30th June 2025.
• Consider and confirm standalone unaudited financial results for Q3 and half year ended 30th September 2025.

⚠️ Corporate Status

• Company under Corporate Insolvency Resolution Process with powers vested in Resolution Professional Abhay Narayan Manudhane.