C & C Constructions532813Leadership appointment or

Whole-Time Director resigns; Board approves Puneet Sharma as Additional Director / Whole-Time Director

Mr. Chandan Singh (DIN: 10901481) resigned as Whole-Time Director, effective from the closure of business hours on November 04, 2026.

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

Whole-Time Director resignation: Mr. Chandan Singh (DIN: 10901481) resigned as Whole-Time Director, effective from the closure of business hours on November 04, 2026
New Additional Director / Whole-Time Director: Mr. Puneet Sharma (DIN: 10888806) as Additional Director / Whole-Time Director from November 04, 2026
PF damages summons: aggregating to 0.96 crore for the period from 2013-2016 and from 2014-2017

Mr. Chandan Singh (DIN: 10901481) has resigned from the position of Whole-Time Director of the company.
The Board accepted the resignation, effective from the closure of business hours on November 04, 2026.
A copy of his resignation letter and the related disclosures are enclosed with the update.

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

The Board approved the Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026.
The results were reviewed and recommended by the Audit Committee and carry Limited Review Reports issued by M/s. A S G & Associates, Chartered Accountants, the statutory auditors.
A limited review gives moderate assurance and is narrower in scope than a full audit.

A petition for initiation of Corporate Insolvency and Bankruptcy Process shared by ICICI Bank Limited was admitted by the NCLT on 14th February 2019, and the NCLT ordered the liquidation of the company on 7th October 2022.
The Liquidator sold all 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, with a Sale Certificate dated December 27, 2024.
The new promoters acquired the company as a going concern on December 27, 2024 and, as represented to the auditor, have obtained only limited information on the company's financial position and operations; certain key records and details are awaited from the Liquidator.
Management has shared an application with the NCLT seeking specific reliefs, concessions and clarifications, the outcome of which may impact the final accounting treatment of matters associated with the liquidation process. The formal closure of the liquidation process remains pending before the NCLT.
Management has represented that, in line with Section 53 of the IBC, no additional liabilities have been recognised for obligations incurred before the issuance of the Sale Certificate by the Liquidator.

The company has received notices under section 276(B) of the Income Tax Act, 1961 for initiation of prosecution proceedings regarding late deposit of tax deducted at source for the financial years 2012-13, 2013-14, 2014-15 and 2016-17.
The company has also 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 period from 2013-2016 and from 2014-2017; the matter is presently sub judice.
The auditor's conclusion is not qualified in respect of these matters.

The update records a Whole-Time Director stepping down and a same-day appointment of a replacement, along with the quarterly and half-yearly results.
The auditor draws attention to the pending formal closure of the liquidation process, the limited records available to the new management, and the pending NCLT application, and notes that these could lead to changes in the financial statements in future periods.

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