Outcome of Board Meeting held as on 05.08.2025
Awaiting price reaction for this filing.
The board approved unaudited financial results for the quarter ended June 30, 2025. The company reported zero revenue from operations and zero total income, with a net loss of Rs. 0.50 lakh for the quarter. Reserves remain deeply negative at Rs. (132.72) lakhs as of March 31, 2025, reflecting accumulated losses. The statutory auditor (SK Bhavsar & Co.) issued a Limited Review Report containing a significant Emphasis of Matter, flagging that the NBFC has Rs. 256.27 lakhs in loans and advances with no balance confirmations from borrowers, making recoverability unverifiable. The auditor also noted the company has not followed RBI NPA provisioning norms on these loans, could not verify the existence or value of its investments due to missing records, and the company has not paid its annual listing fee to the exchange – a clear SEBI regulation violation.
This is a deeply negative disclosure for shareholders. The company is generating no revenue, has eroded nearly its entire equity base, faces serious audit qualifications on its core NBFC assets (loans and investments), and is non-compliant with exchange listing requirements. The stock carries very high risk; investors should expect potential regulatory action, further dilution, or going-concern challenges.