IL&FS Investment penalized for Delay in Submission of Consolidated Financial Results for FY 2024-25

IL&FS Investment Managers Limited issues a regulatory filing dated July 1, 2025, addressed to the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Through the formal disclosure, the company is informing the stock exchange about a situation where it has not yet submitted its consolidated financial results for the financial year 2024-25 and hence has received official notices from both stock exchanges about this delay.

On June 27, 2025, the company, i.e., IL&FS Investment Managers Limited, received emails from the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) after office hours on Friday. The emails were basically official communications warning the company that it had not yet submitted its consolidated financial results for FY 2024-25. The communication also informed the company that, due to this delay, fines of Rs. 5,000 per day till the date of compliance + 18% GST are being imposed on it under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Moreover, the authority has warned the company that if it continues to be non-compliant with the order, further penalties will be imposed.

On June 30, 2025, the company acknowledged these notices, which was the next working day after receiving the email. Prior to these notices, IL&FS Investment Managers had already disclosed in an official filing dated May 29, 2025, that while it had submitted its audited standalone financial results, it was unable to submit the consolidated results on time. For this, the company gave the reason that it was still waiting to receive the audited accounts from one of its subsidiaries, which delayed the consolidated report.

On June 4, 2025, the company requested the stock exchange to extend the due date to submit the consolidated results because of these delays. In addition to this application, they submitted a fee of Rs. 1,00,000 as required.

On June 30, 2025, the company again replied to the stock exchange, explaining the cause of the delay again, in addition to including a copy of the extension application designated to SEBI.

The company also requested the stock exchange not to take any punitive actions, explaining the delay was because of honest difficulties that were not under their control. It also assured the stock exchange that it was working hard to submit the consolidated financial results as early as possible.