SKIL Infrastructure Company Secretary Resigns Over Unpaid Salary Amid Insolvency

Nilesh Mehta, Company Secretary and Compliance Officer at SKIL Infrastructure Limited, has resigned. His departure, effective April 10, 2026, comes after more than two years of unpaid salary and reduced pay during the company's insolvency proceedings. SKIL Infrastructure has been undergoing these proceedings since the National Company Law Tribunal (NCLT) in Mumbai ordered it on February 1, 2024.

Resignation Details

Nilesh Mehta formally submitted his resignation, citing the direct cause as unpaid salary for over 24 months. He also noted a reduction in his remuneration while the company navigates its insolvency process.

Impact on Company and Insolvency Process

The departure of a Company Secretary, a crucial role, can create significant challenges for SKIL Infrastructure's regulatory compliance and governance, especially during its insolvency proceedings. This resignation suggests ongoing operational difficulties and problems retaining essential staff during a period of acute financial distress. Such issues could hinder the smooth progression of the insolvency resolution process, particularly given past instances of management non-cooperation.

Background on SKIL's Insolvency

SKIL Infrastructure, an infrastructure development firm, entered insolvency proceedings on February 1, 2024, by order of the NCLT Mumbai. After legal hurdles, the National Company Law Appellate Tribunal (NCLAT) lifted a stay on forming the Committee of Creditors (CoC) on October 15, 2025. This paved the way for Purusottam Behera to be appointed Resolution Professional (RP) on November 3, 2025. Earlier, in August 2024, the Securities and Exchange Board of India (SEBI) fined promoters and directors ₹55 lakh for misrepresenting financial data and delaying disclosures for fiscal year 2019-20. In that year, the company reported a loss of ₹1,411 crore. Previous non-cooperation from management, including the Company Secretary, previously required the Interim Resolution Professional (IRP) to seek outside help.

Next Steps and Compliance Needs

• SKIL Infrastructure must quickly appoint a replacement Company Secretary and Compliance Officer to meet legal and regulatory duties.
• This departure may signal wider financial pressures affecting other key staff, possibly leading to more resignations.
• Upholding corporate governance standards will be more difficult without a dedicated Company Secretary, particularly as the company is exempt from some SEBI listing regulations.

Potential Risks

• Challenges in finding and keeping qualified staff for essential positions during the insolvency proceedings.
• Risk of further interruptions to daily operations and adherence to regulations.
• Likelihood of delays or complications in the insolvency resolution process due to ongoing staff issues.
• Continued financial strain on employees and management.

Comparison with Industry Peers

Direct comparison of SKIL Infrastructure with peers like Larsen & Toubro or IRB Infrastructure is difficult because SKIL is currently undergoing insolvency proceedings. Companies in such situations operate under a distinct regulatory framework compared to financially healthy companies subject to standard corporate governance.

Key Dates in SKIL's Insolvency

• February 1, 2024: NCLT Mumbai admits SKIL Infrastructure into insolvency proceedings.
• October 15, 2025: NCLAT lifts stay on Committee of Creditors (CoC) formation.
• November 3, 2025: Purusottam Behera approved as Resolution Professional (RP).

What to Watch For

• SKIL Infrastructure's success in appointing a new Company Secretary and Compliance Officer.
• Key updates and timelines from the ongoing insolvency proceedings.
• New resolution proposals or decisions from the Committee of Creditors (CoC).
• The company's capacity to maintain critical regulatory compliance during this period.