Appointment of Secretarial Auditor of the Company for FY 2025-26.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Evoq Remedies Ltd's Board meeting on May 30, 2026 approved two items: (1) appointment of M/s. Jay Pandya & Associates as Secretarial Auditor for FY 2025-26, and (2) audited financial results for half year and year ended March 31, 2026. The statutory auditor issued a qualified opinion with material uncertainty about the company's ability to continue as a going concern. Key concerns include: related party loans of Rs. 670.26 lakhs given without proper approvals violating Sections 177, 185, 188 and 189 of Companies Act; unreconciled debtor balances of Rs. 385.46 lakhs; advances to suppliers of Rs. 1,251.18 lakhs without confirmations; unpaid income tax of Rs. 61.63 lakhs and unpaid TDS of Rs. 38.76 lakhs indicating acute liquidity stress; and an active SEBI investigation regarding preferential issue fund utilization. The company posted a net loss of Rs. 25.10 lakhs for FY2026 against a profit of Rs. 12.82 lakhs in FY2025. The company has not appointed an Internal Auditor as mandated under Section 138.
The appointment of a secretarial auditor is routine compliance. However, the simultaneous filing of a qualified audit opinion with going concern doubts, ongoing SEBI investigation, and multiple governance failures signals serious risk. Shareholders should be cautious as the company faces liquidity stress, regulatory scrutiny, and potential enforcement actions.