C & C Constructions532813Leadership appointment or

Puneet Sharma appointed Additional Director / Whole-Time Director; Chandan Singh's resignation accepted

Puneet Sharma (DIN: 10888806) appointed Additional Director / Whole-Time Director with effect from November 04, 2026, subject to shareholder approval at the next General Meeting or three months from the date of appointment.

By ScoutQuest · Wed 4 Nov 2026, 4:18 PM IST · 3 min read

Appointment effective date: Puneet Sharma (DIN: 10888806) appointed Additional Director / Whole-Time Director with effect from November 04, 2026
Resignation effective date: Chandan Singh (DIN: 10901481) resigned as Whole-Time Director, effective close of business hours on November 04, 2026
Results approved: Unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026, with limited review reports

Two board changes

The Board approved the appointment of Mr. Puneet Sharma (DIN: 10888806) as an Additional Director / Whole-Time Director with effect from November 04, 2026, on the recommendation of the Nomination and Remuneration Committee.
The appointment is subject to the approval of the shareholders at the next General Meeting or three months from the date of appointment, whichever is earlier. The update also states he is not debarred from holding the office of Director by virtue of any SEBI order or any other such authority.
The Board accepted the resignation of Mr. Chandan Singh (DIN: 10901481) as Whole-Time Director, effective from the close of business hours on November 04, 2026.

Results approved

The Board approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, along with the Limited Review Reports of M/s A S G & Associates, Chartered Accountants. The results were reviewed and recommended by the Audit Committee.

Standalone numbers as printed (amounts in million INR)

Revenue from operations was nil for the quarter; total income was 2.51 for the quarter ended September 30, 2026, against 2.85 in the quarter ended September 30, 2025.
Total expenses were 26.20 for the quarter, against 45.26 a year earlier. For the half year, total income was 9.83 and total expenses 46.27.
Profit before tax was (23.69) for the quarter and (36.44) for the half year. Total comprehensive income was the same, as no tax expense was recognised.
Basic earnings per share was (0.95) for the quarter.
Total assets were 3,505.58, equity share capital 254.45, other equity (21,196.83) and current borrowings 18,781.34 as at September 30, 2026.
Net cash used in operating activities was 24.54 for the half year.

Background the auditor highlights

The National Company Law Tribunal admitted a petition shared by ICICI Bank Limited on 14th February 2019 for initiation of Corporate Insolvency and Bankruptcy Process, and by order dated 7th October 2022 ordered the liquidation of the company.
The Liquidator sold the company's investments in Subsidiaries, Associates, Joint Ventures and Other Investments for Rs.31.00 Crores on 6th August 2024 after the 13th round of auction, and sold the company as a going concern for Rs.104.00 Crores on 27th December 2024 after the 14th round of auction.
The company was acquired as a going concern by M/s R K Constructions under a Sale Certificate dated December 27, 2024. The formal closure of the liquidation process remains pending before the NCLT.
The new management states it has had access to only limited records and financial data of the pre-acquisition period, and key documents and information are awaited from the erstwhile Liquidator.
Management has shared an application before the NCLT seeking reliefs, concessions and clarifications; the outcome may affect the accounting treatment and reporting of matters linked to the liquidation process.
Management states that, in line with Section 53 of the IBC as interpreted by the company, no additional liabilities have been recognised for obligations incurred before the Sale Certificate.

Other matters flagged

The company has received notices under section 276(B) of the Income Tax Act, 1961 for initiation of prosecution proceedings relating to late deposit of tax deducted at source for the financial years 2012-13, 2013-14, 2014-15 and 2016-17.
The company has received summons for levy of damages under section 14B of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, aggregating to ₹0.96 crore for the periods from 2013-2016 and from 2014-2017; the matter is presently sub judice.
The auditor states its conclusion is not modified in respect of the emphasis of matters and is not qualified in respect of the tax and provident fund matters.

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Board meeting on November 04, 2026 to approve September quarter results

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