Mr Avanish Kumar, Chief Financial Officer of the Company, has resigned with effect from the close of business hours on August 11, 2025.
Awaiting price reaction for this filing.
C & C Constructions' board, on August 11, 2025, approved the unaudited financial results for Q1 FY26 (quarter ended June 30, 2025), reporting nil operating revenue, Rs. 34.99 lakh of other income, a small loss of Rs. 1.47 lakh, and an EPS of Rs. (0.06). The board also appointed new auditors: ASG & Associates as Statutory Auditor for five years (FY26–FY30), Preet Kumar & Associates as Secretarial Auditor for five years, and Rahul J Garg & Associates as Internal Auditor for FY26. The company noted the resignation of CFO Mr. Avanish Kumar effective close of business on August 11, 2025, citing personal and family reasons. Contextually, the company was acquired as a going concern by R K Constructions in December 2024 for Rs. 104 crore after a 2019 IBC admission and 2022 liquidation order, and the formal closure of liquidation proceedings before NCLT remains pending. The new management flagged that financial statements rely on limited records inherited from the Liquidator and could change once NCLT reliefs are decided.
Shareholders should note the loss of a key managerial person (CFO) right after the company's takeover by new promoters, though the resignation is attributed to personal reasons. The thin financials and ongoing IBC liquidation uncertainties mean the stock remains high-risk and information-dependent on pending NCLT rulings.