PFA Outcome of the Board Meeting and Submission of Audited Financial Results for the quarter and financial year ended 31st March, 2026 as required u/r 33 of the SEBI (LODR) Regulations, 2015.
Awaiting price reaction for this filing.
Interworld Digital Limited reported a net loss of Rs 26.05 Lacs for FY2026, slightly higher than the previous year's loss of Rs 22.24 Lacs. Total income was negligible at Rs 2.88 Lacs as the company has had no business revenue for an extended period. The auditors issued a qualified opinion with five qualifications: the past MD fraudulently shifted the entire business and IP to his own entity; ROC fees dispute of Rs 55.97 Lacs is pending in court; statutory dues of Rs 1.91 Crore remain unpaid since 2009-10; no credit loss provision on receivables of Rs 1,303.55 Lacs despite INDAS-109 requirements; and no impairment assessment on unquoted investments of Rs 1.47 Crore. The company also defaulted on a vehicle loan of Rs 5.35 Lacs from Kotak Mahindra Prime. Operating cash outflow was Rs 20.56 Lacs, and the company has not paid BSE listing fees since 2018-19.
This is a severely distressed company with no operating revenue, qualified audit opinions since 2014-15, and governance issues stemming from the past MD's fraud. Shareholders should be extremely cautious as the company faces going concern risks and regulatory trading restrictions.