TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
The latest announcement is out from Siti Networks Limited ( (IN:SITINET) ).
Siti Networks Limited is currently facing challenges in obtaining an extension for holding its Annual General Meeting (AGM) for the financial year 2024-25 due to its status under the Corporate Insolvency Resolution Process (CIRP). The company has made multiple attempts to file for an extension through the Ministry of Corporate Affairs (MCA) portal, but technical and regulatory hurdles have prevented successful filing. Despite clarifying its position and responsibilities under the Insolvency and Bankruptcy Code, the Registrar of Companies (ROC) has rejected the extension requests, citing the lack of explicit provisions for such a scenario under the current regulations. This situation highlights the complexities faced by companies under CIRP in complying with statutory requirements.
More about Siti Networks Limited
Siti Networks Limited operates in the telecommunications industry, primarily providing cable television and broadband services in India. The company focuses on delivering digital entertainment and connectivity solutions to a wide range of customers across the country.
Average Trading Volume: 155,433
Technical Sentiment Signal: Strong Sell
Current Market Cap: 427.3M INR
For an in-depth examination of SITINET stock, go to TipRanks’ Overview page.