Outcome of Board Meeting Held on Thursday, February 12, 2026

Intec Capital's board approved unaudited financial results for Q3 and nine months ended December 31, 2025. The auditor (S.P. Chopra & Co.) has flagged a 'Material Uncertainty Related to Going Concern,' citing huge accumulated losses, complete halt of lending operations, sharp drop in recoveries, severe erosion of net worth, and delays in paying statutory dues. The company is being kept alive on a going-concern basis only because of continued promoter support. Separately, the auditor highlighted a one-time settlement (OTS) with all lender banks completed in Q1 FY26, resulting in a net loss of Rs. 124.38 lakhs booked as an exceptional item — this matter was previously a qualified opinion but has now been upgraded to an emphasis of matter. The board also approved converting an interest-bearing promoter loan from Mr. Sanjeev Goel into an interest-free loan, recommended regularization of an independent director, and allowed a related party (Modern Credit Pvt Ltd) to participate in company auctions, all subject to postal ballot.