Ballarpur Industries Limited — Others, 16-04-2025: Appointment

Ballarpur Industries Limited has announced a board meeting to approve the audited financial statements for the years ended March 31, 2021, 2022, and 2023, all of which received modified opinions from the statutory auditors. The board also approved the allotment of 23,00,000 unlisted non-cumulative redeemable preference shares aggregating to INR 23 Crore to Finquest Financial Solutions. Additionally, Mr. Alok Prakash has been appointed as the Chief Executive Officer, effective immediately. The appointment of internal auditors has also been approved for FY 2024-25 and FY 2025-26. The ongoing corporate restructuring underlines the company’s commitment to improving its operational status and restoring investor confidence, although substantial operational and financial challenges persist.