Board Meeting Outcome held as on 14th February 2026
Awaiting price reaction for this filing.
The board, at its meeting on February 14, 2026, approved the unaudited standalone financial results for Q3 FY26 and nine months ended December 31, 2025. The company reported zero revenue from operations and a small loss of Rs. 8.59 lakhs for the quarter. For the nine-month period, the company showed a paper profit of Rs. 30,145.61 lakhs, entirely driven by a one-time exceptional item of Rs. 30,220.57 lakhs arising from the write-off of past liabilities under the NCLT order. The auditor (N.K. Sarraf & Associates) issued a Disclaimer of Opinion, stating they could not obtain sufficient evidence on multiple items including opening balances, statutory dues, bank statements, and pending litigations. The company remains under a cloud: CIRP was admitted in June 2019, liquidation was ordered in October 2020, and the company was sold via e-auction in December 2024 to Grow House Agro Limited, with the sale certificate issued on March 1, 2025. Operations have been suspended since Q3 FY19.
The reported profit is misleading as it stems solely from accounting write-offs permitted by the NCLT, not from any business activity. Existing shareholders face significant uncertainty as the NCLT order requires cancellation of current promoter and public shareholdings and issuance of new shares to the successful bidder (Grow House Agro Limited) and its nominees, which has not yet been implemented. The auditor's disclaimer and going-concern doubts make this a high-risk stock with potential delisting or share restructuring events ahead.