Pursuant to Reg. 33 of SEBI LODR 2015, we wish to submit the unaudited standalone financial results and limited review report issued by the Statutory Auditor for the third quarter ended ....
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Rajeswari Infrastructure Ltd submitted its Q3 FY2025 results under Regulation 33. The company was admitted into CIRP under IBC 2016 in May 2023, and a resolution plan was approved by NCLT in January 2026. The statutory auditor has issued a DISCLAIMER OF OPINION, citing inability to obtain sufficient evidence on opening balances, asset existence/valuation, inventory verification, and CIRP liabilities. The company reported total income of just Rs. 0.01 lakh for the quarter (down from Rs. 0.06 lakh in Q3 FY2023) and a net loss of Rs. 3.09 lakh. For nine months, net loss stood at Rs. 10.57 lakh. CIRP claims of Rs. 35.34 crore were classified as contingent liability, which the auditor noted departs from accounting standards. Predecessor auditor had issued a qualified opinion for FY2024 citing non-compliance with Ind AS 37 and Ind AS 109.
The disclaimer of opinion and ongoing CIRP-related accounting issues signal extreme financial distress and governance concerns. Shareholders face high risk as the company's net worth is negative (reserves at negative Rs. 47.54 lakh), operations are near-zero, and material misstatements cannot be ruled out.