Reappointment of Internal Auditor
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Ekam Leasing reported a net loss of Rs 232.28 lakhs for FY 2025-26, a significant deterioration from Rs 112.80 lakhs loss in the prior year. Total income dropped to Rs 29.32 lakhs from Rs 34.67 lakhs. The company's equity turned negative at Rs -5.69 lakhs (down from Rs 226.59 lakhs positive), raising serious concerns. Auditors issued qualified opinions citing: (1) Net Owned Fund falling below RBI's minimum Rs 5 crore requirement for NBFCs, casting doubt on the company's NBFC status; (2) two subsidiaries potentially requiring NBFC registration; (3) prolonged vacancy in Company Secretary position exceeding statutory timelines. The company has filed a scheme of amalgamation with two subsidiaries before NCLT to boost NOF. M/s ACG & Co has been reappointed as Internal Auditor for FY 2026-27.
The company faces existential regulatory risk as its NBFC license could be jeopardized by sub-Rs 5 crore Net Owned Fund. Negative equity and auditor doubts about going concern status are severe red flags for shareholders, suggesting potential delisting risk or winding up if the merger fails to get NCLT approval.