SEL Manufacturing CS Ratika Khandelwal Resigns

SEL Manufacturing Company Limited announces resignation of Company Secretary cum Compliance Officer Ms. Ratika Khandelwal due to personal reasons, effective March 13, 2026.

SEL Manufacturing Reports Rs 85.26 Crore Loss Amid Severe Financial Distress and Plant Shutdowns

SEL Manufacturing Company Limited reported a net loss of Rs 4,421.69 crore for the quarter ended September 30, 2025, and Rs 8,526.31 crore for the six-month period. The company's revenue from operations was Rs 531.24 crore for the quarter. The company is experiencing severe financial distress with major plants remaining shut during the quarter and has shifted to job work operations at one unit instead of manufacturing activities. SEL Manufacturing has defaulted on quarterly installments of Rs 21,500 crore due from September 2023 to September 2025, and unpaid interest of Rs 15,214 crore for the period July 2023 to September 2025. The company has accumulated total losses of Rs 72,616 crore since implementing its resolution plan. Shareholders passed a resolution for initiating Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code 2016 in an extraordinary general meeting held on October 13, 2023. The auditors expressed material uncertainty about the company's ability to continue as a going concern due to liquidity constraints and inability to meet financial obligations.

SEL Manufacturing Appoints Ratika Khandelwal as Company Secretary and Compliance Officer

SEL Manufacturing Company Limited appointed Ms. Ratika Khandelwal as Company Secretary and Compliance Officer effective September 13, 2025. The Board of Directors approved the appointment through a resolution by circulation. Khandelwal is a qualified Company Secretary with membership number A-62610. She brings experience from various roles including Senior Executive at NAV INDIA Back-office IT solutions, Financial Analyst at Deutsche Bank, and positions at company secretarial firms. Her expertise includes corporate compliances under Companies Act, LLP Act, accounting, tax work, and legal document drafting.

SEL Manufacturing Company Approves Q1 FY2026 Results, Faces Multiple Senior Leadership Resignations

SEL Manufacturing Company Limited approved its unaudited financial results for the quarter ended June 30, 2025. The board appointed M/s Lal Ghai & Associates as secretarial auditors for FY 2025-26 to 2029-30, subject to shareholder approval, and M/s Jatin Sharma & Co. as cost auditors for FY 2025-26. The company scheduled its 25th Annual General Meeting for September 30, 2025, via video conferencing. However, the company experienced significant leadership changes with multiple resignations: Mrs. Seema Singh and Mr. Manjit Singh Kochar resigned as independent directors effective July 29, 2025, Mr. Dinesh Kumar Mehtani resigned as Non-Executive Director effective July 18, 2025, CFO Mr. Navneet Gupta resigned effective July 31, 2025, and Company Secretary Mr. Sumit Sushil Jain resigned effective August 11, 2025. The board approved the cost audit report for FY 2024-25 and the board's report with annexures for FY 2024-25.