To consider and approve Standalone and Consolidated Audited Financial Results along with audit report of the Company for the quarter and year ended 30th March, 2025 and To appoint Company ....
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Ind Agiv Commerce Ltd's board, meeting on May 30, 2025, approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2025, along with the statutory auditor's report. The board also appointed Ms. Puja Pratik Mehta (ACS A-27456) as Company Secretary and Compliance Officer effective the same day. Despite the company declaring an 'unmodified' audit opinion in its filing, the auditor actually issued a 'Qualified Opinion', flagging that Rs. 62.13 lakhs of interest on delayed NBFC loan repayments was not accounted for, statutory dues like TDS (Rs. 17.48L), PF (Rs. 4.06L) and ESIC (Rs. 0.22L) were delayed, and Redfort Capital Finance has filed recovery suits with Delhi High Court ordering arbitration. The company reported losses for the full year on both standalone and consolidated bases, and the auditor added an Emphasis of Matter on long project installation times hampering recoveries.
Shareholders should note the contradiction between the company's claim of an unmodified audit opinion and the auditor's clearly stated qualified opinion, which raises red flags about delayed statutory payments, NBFC defaults, and ongoing litigation. The reported full-year loss and the auditor's concerns about project recoveries suggest financial stress and possible further negative stock action.