Outcome of Monitoring Committee Meeting held on 29.05.2025, for approval of 3rd Quarter and Nine Month Ended 31.12.2024 unaudited Standalone & Consolidated Financial Results with Limited ....
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The Monitoring Committee of Birla Cotsyn approved unaudited financial results for Q3 FY25 (Oct–Dec 2024) and the nine months ended 31-Dec-2024, alongside a large backlog of prior-period results spanning FY19 to FY24. The company is under liquidation since September 2019, but a Composite Scheme of Compromise and Arrangement with an acquirer was orally approved by NCLT on 09-Jan-2025, allowing accounts to be drawn on a going-concern basis. The company reported zero revenue from operations and a net loss of Rs. 156.89 lakhs for Q3 FY25 and Rs. 491.33 lakhs for 9M FY25 (standalone); consolidated losses are similar. Reserves are deeply negative at Rs. (66,657.16) lakhs (standalone) against equity capital of Rs. 26,865.70 lakhs. The committee approved a Rs. 3 crore working capital infusion and resolved to file an interlocutory application before NCLT against demands raised by MIDC, NSDL, CDSL, and BSE for the CIRP/liquidation period, on the grounds that these entities did not file claims during the IBC process.
Birla Cotsyn is a distressed, loss-making shell under liquidation whose survival hinges on NCLT-approved revival scheme implementation. Shareholders face continued uncertainty — zero revenue, mounting losses, fully eroded reserves, and pending litigation — making this a high-risk, speculative situation with no near-term cash flow visibility.