Pursuant to Regulation 33 of SEBI (LODR) Regulation 2015, We wish to submit the Audited Financial Results and Audit Report issued by Statutory Auditor for the quarter and year ended 31.03.2025
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Rajeswari Infrastructure Ltd submitted audited standalone financial results for FY2025. The company emerged from Corporate Insolvency Resolution Process (CIRP) after NCLT approved the resolution plan on January 13, 2026. The statutory auditor (KMKU & Associates) issued a Disclaimer of Opinion, citing inability to obtain sufficient audit evidence on opening balances, asset valuations, inventory existence, tax compliance, and CIRP liabilities. Key concerns include: CIRP claims of Rs. 35.34 crore improperly classified as contingent liabilities (should be recognized per Ind AS 37), loans of Rs. 1.21 crore potentially non-recoverable, no physical verification of inventories, and negative reserves of Rs. 47.54 lakhs. Financial performance shows total income of Rs. 5.08 lakhs and net loss of Rs. 9.11 lakhs for the year, with negative equity of Rs. 78.02 lakhs.
The disclaimer of opinion and unresolved CIRP matters indicate severe financial distress and governance issues. Shareholders face extreme risk as the financial statements lack reliability, with material misstatements likely in assets, liabilities, and reported losses.