Q1 loss, zero revenue, auditor disclaimed review; going concern doubt flagged
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Board approved Q1 FY27 (quarter ended June 2026) results: standalone revenue from operations at Rs 0 versus Rs 1,111.20 lakh YoY. Net loss Rs 1,568.38 lakh. Auditor Mahesh C. Solanki issued a disclaimer of conclusion citing management deadlock and inability to verify numbers, and resigned effective June 19, 2026 over unpaid fees. Net current liabilities stand at Rs 32,545.84 lakh and bank dues of Rs 30,935.76 lakh face SARFAESI notices. Going concern doubt flagged. AGM set for September 30, 2026. Name change to Kaashipur Ventures proposed.
Severe distress signals: zero revenue, auditor disclaimer, going concern doubt, SARFAESI recovery notices and non-compliance on key posts put shareholders at high risk.