DPSC Limited (NSE: DPSCLTD, MSE: DPSCLTD)

Introduction

On 12 September 2026, India Power Corporation Limited (formerly DPSC Limited) filed a corporate announcement with the National Stock Exchange (NSE) and the Metropolitan Stock Exchange (MSE) indicating non‑compliance with Regulation 33 of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. The company is currently under the Corporate Insolvency Resolution Process (CIRP) ordered by the Hon’ble NCLT, Hyderabad Bench‑I.

Key Points of the Announcement

1. Nature of the Non‑Compliance

• Regulation 33 requires timely submission of quarterly financial results.
• The company failed to submit the financial results for the quarter ended 30 June 2026 on the NSE and MSE platforms within the prescribed deadline (by 14 August 2026).

2. Notices and Penalties

Authority	Notice Reference	Fine (Rs.)	GST (18 %)	Total Payable
NSE	NSE/LIST‑SOP/FINES/1028 (11 Sep 2026)	130,000	23,400	153,400
MSE	MSE/LIST/2026/1110 (11 Sep 2026)	130,000	23,400	153,400

• Annexure‑A also records a financial impact of Rs 3.06 Lakhs as of the filing date.
• No impact on the company’s operations or other activities has been reported.

3. Reason for Delay

• The company is under CIRP (order dated 15 May 2026).
• Powers of the Board of Directors are suspended; the Resolution Professional (Ms. Mano Ranjani) and the Management Committee are responsible for reviewing and approving the unaudited financial results (UFR).
• Multiple postponements of the board‑resolution meeting (initially scheduled for 12 Aug 2026, later moved to 14 Aug 2026, and subsequently delayed further) prevented timely filing.
• The Committee of Creditors (CoC) is actively working to appoint a Support Service Agency to assist the Resolution Professional in finalising the results.

4. Company’s Response and Next Steps

• The company has communicated the reasons for the delay to NSE (21 Aug 2026) and MSE (02 Sep 2026).
• A waiver request for the imposed fines is being prepared; the company intends to file an appeal as per the SEBI Master Circular.
• The matter will be presented to the Board of Directors at the next meeting, and board comments will be communicated to the exchanges.
• The company has uploaded the disclosure on its website (www.indiapower.com) and will continue efforts to finalise and submit the June‑2026 financial results at the earliest.

5. Potential Consequences if Unresolved

• Freezing of promoters’ demat holdings and possible shift of the stock to “Trade for Trade” (Z‑Category) if fines remain unpaid beyond 15 days.
• Ongoing accrual of daily penalties until compliance is achieved.

Summary for Investors

• Regulatory Issue: Non‑submission of Q2 2026 results; fines imposed by NSE and MSE totaling ≈ Rs 153,400 each (including GST).
• Financial Impact: Immediate monetary impact of Rs 3.06 Lakhs; no operational disruption reported.
• Management Situation: Company is under CIRP; the Resolution Professional and Management Committee are handling approvals.
• Mitigation: Formal waiver/appeal to be filed; board to review and communicate comments; continued effort to finalise results.
• Risk Outlook: Pending resolution of the fine and submission of the financial results; potential for further regulatory actions if compliance is not achieved promptly.

Investors should monitor forthcoming communications from India Power Corporation Limited regarding the waiver application, board deliberations, and the eventual filing of the June 2026 financial results.