Please find enclosed herewith the Outcome of the Board Meeting held on April 30, 2026
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The Board of Directors of Invigorated Business Consulting Limited (formerly Escorts Finance Limited) approved its audited financial results for Q4 and the financial year ended March 31, 2026. The company received an unmodified (clean) audit opinion from Kapish Jain & Associates. However, the auditors highlighted three emphasis of matters without qualifying their opinion: (1) the company has accumulated losses with net worth fully eroded, though accounts are prepared on a going concern basis citing management's recovery plans; (2) Escorts Benefit Trust deposited Rs 10.56 lakh (Ten Crores Fifty-Six Lacs Thirty-Six Thousand Three Hundred Sixty-Three) with the Investor Education & Protection Fund; and (3) the company is no longer registered with RBI as a Non-Banking Financial Institution (NBFC) after cancellation of its registration. Turnover/income is NIL post the name change and cessation of NBFC business activities. Deferred tax asset has not been recognised due to absence of virtual certainty of future taxable income.
The company is effectively a shell with no revenue post its NBFC deregistration and name change. Despite a clean audit opinion, the accumulated losses, eroded net worth, and zero operating income signal significant financial distress, though the going concern assumption remains supported by management's stated recovery plans.