As per the attachment.
Awaiting price reaction for this filing.
Rolta India filed its Q1 FY25 results, covering the quarter ended June 30, 2024. The company remains under Corporate Insolvency Resolution Process (CIRP) since January 19, 2023, with a Resolution Professional running operations. The Committee of Creditors approved a resolution plan in August 2024, but NCLT approval is stayed by the Supreme Court, with the next hearing scheduled for August 13, 2025. The auditor issued an adverse conclusion on both standalone and consolidated results, citing multiple issues: no impairment testing of property and equipment, non-recognition of corporate guarantee obligations of Rs. 6,268.80 crores related to US subsidiary bondholders, unauthorized forex adjustments awaiting RBI approval, and prior period errors not corrected per accounting standards. Total admitted creditor claims stand at Rs. 14,074.13 crores against received claims of Rs. 22,546.23 crores. Standalone net worth is completely eroded (negative). Two lenders have classified the company's accounts as 'fraud', which is being legally contested.
Extremely negative for shareholders. The company is under insolvency proceedings with deeply eroded net worth, an adverse audit opinion, and explicit going concern uncertainty. Resolution plan approval is stalled in court, meaning the future of the company and equity holders remains highly uncertain. Equity holders face significant risk of dilution or total loss under any resolution plan.