Board approves FY24 audited results after CIRP resolution
Awaiting price reaction for this filing.
Board approved backlogged audited financial results for FY ending March 2024, filed as part of post-CIRP compliance regularization. NCLT Mumbai had approved the company's Resolution Plan on 18 August 2025. The auditor issued a qualified opinion flagging pending implementation of restructuring, use of older Accounting Standards instead of Ind AS, missing gratuity provision, and incomplete access to historical records. Company has ceased NBFC activity and surrendered its registration. Net loss of Rs 48.62 lakhs on income of Rs 16.55 lakhs; net worth Rs 2072.88 lakhs. Going concern uncertainty noted.
Post-resolution cleanup filing; share restructuring and fresh equity allotment to resolution applicant still pending, which could dilute existing holders. Auditors flag material uncertainties.