Pursuant to Reg. 30 and 33 of SEBI LODR 2015, we wish to submit the outcome of Monitoring Committee''s meeting held on 01st May 2026, to consider and approve the following: 1. Audited ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Rajeswari Infrastructure Ltd, admitted to Corporate Insolvency Resolution Process (CIRP) under IBC 2016 in May 2023, has now submitted audited financial results for Q4 and FY 2025 through its newly constituted Monitoring Committee following NCLT approval of the resolution plan in January 2026. The company reported total income of Rs. 5.02 lakhs for Q4 FY25 and a net loss of Rs. 9.11 lakhs for the full year. The Statutory Auditor, KMKU & Associates, has issued a DISCLAIMER OF OPINION citing inability to obtain sufficient audit evidence due to: unresolved predecessor auditor qualified opinions on Ind AS 37/109 non-compliance; CIRP liabilities of Rs. 35.34 crore incorrectly classified as contingent (should be provisions); missing physical verification of inventories; unreconciled tax balances; and material uncertainty over going concern basis of accounting. The net loss is understated by approximately Rs. 22.66 crore due to non-recognition of admitted CIRP claims. Equity shareholders' funds stand at negative Rs. 78.02 lakhs (reserves at negative Rs. 631.11 lakhs).
This is a highly distressed company with a disclaimer of opinion, negative equity, and material misstatements in financial statements. The pending CIRP liabilities of Rs. 35.34 crore not properly recognised as provisions significantly understates losses. Investors should be extremely cautious as financial statements lack credibility and substantial liabilities remain unaccounted for.