Outcome of Board Meeting held today i.e., May 30, 2026
Awaiting price reaction for this filing.
Talwalkars Better Value Fitness Limited held a board meeting on May 30, 2026 to approve delayed financial results spanning over 6 years (Q2 FY2020 to Q3 FY2026). This is highly unusual as the company is catching up on years of non-compliance following a Corporate Insolvency Resolution Process (CIRP) initiated in January 2021 and subsequent Liquidation proceedings starting April 2022. The company was sold as a going concern via e-auction in August 2024, with ownership transferred on November 7, 2024. A recent NCLT Relief Order dated February 26, 2026 extinguished all pre-transfer liabilities and cancelled existing equity share capital without any payment to shareholders. The auditor (SK Bhavsar & Co.) issued a disclaimer of conclusion, citing inability to verify financial data due to non-availability of books of accounts, vouchers, and servers from the historical period. Financial results for Q2 FY2020 show zero revenue with a net loss of Rs 1,157.30 lakhs, primarily driven by depreciation charges.
Shareholders should be aware that historical equity has been completely cancelled under the NCLT order with zero compensation. The company is essentially a new entity post-acquisition, and all historical financial data carries significant reliability concerns due to auditor disclaimers. Investors should exercise extreme caution as this is essentially a relisting/revival situation with no meaningful historical comparables.