IL&FS Investment Managers Limited (IVC) has submitted comments and observations from its Board of Directors regarding the delay in filing Unaudited Consolidated Financial Results for the quarter and half-year ended September 30, 2025. The company was required to submit these results by November 14, 2025, as per SEBI (LODR) Regulations, 2015. While the standalone results were filed on time on November 13, 2025, the consolidated results could not be completed due to the non-receipt of approved financial results and a limited review report from its subsidiary, Andhra Pradesh Urban Infrastructure Asset Management Limited (APUIAML).

APUIAML cited the unavailability of its Directors, who are senior Government officials occupied with State-level review meetings, as the reason for its inability to convene its Board Meeting. IVC had disclosed this delay to the stock exchanges on November 13, 2025. Subsequently, the exchanges issued notices on December 16, 2025, levying fines, and on January 01, 2026, proposing the freezing of promoter demat accounts.

In its response dated January 02, 2026, IVC explained that the delay was an impossibility of performance beyond its control, stemming from APUIAML's constraints. The company emphasized its full compliance with disclosure obligations and its good-faith efforts. IVC requested that promoter shareholding not be frozen and sought an opportunity for a personal hearing. The Board, in its meeting on January 15, 2026, observed that the delay was solely attributable to circumstances beyond the company's control and that there was no lapse or negligence on IVC's part. The Board advised management to continue engaging with APUIAML to ensure early completion of financial statements and prevent future delays, and authorized the company to apprise the stock exchanges of these observations.