Pursuant to Regulation 30 read with Schedule Ill and Regulation 34 of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015, as amended from time to time, we submit herewith ....
Awaiting price reaction for this filing.
The company has filed its 44th Annual Report for FY 2024-25 and announced its AGM on September 25, 2025. Operations remain completely shut down because a Court Receiver appointed by DRT-III Mumbai has taken possession of the factory premises, resulting in zero revenue from operations. The company earned only Rs. 4.38 lakh as other income, but still reported a profit after tax of Rs. 23.48 lakh, against a loss of Rs. 27.81 lakh last year. A long-running legal battle continues: a secured creditor is contesting the 2008 compromise/rehabilitation scheme approved by the Gujarat High Court, and the company's challenge to the Court Receiver's appointment is pending before the Bombay High Court. The Board has not declared any dividend.
This is a deeply distressed company for shareholders — operations are suspended under a court receiver, revenue is nil, and the business depends entirely on resolution of multi-forum legal disputes. While the accounts are signed off on a going-concern basis, the ongoing Court Receiver possession and pending High Court challenge make the outlook highly uncertain, and the stock carries significant risk.