Result for the quarter and year ended March 31, 2024
Awaiting price reaction for this filing.
The company reported zero revenue from operations for both Q4 and full year FY24, with only Rs 75.80 lakh in other income. It posted a net loss of Rs 1,153.10 lakh for Q4 and Rs 3,677.70 lakh for the full year, compared to a loss of Rs 3,276.92 lakh in the prior year. The company underwent Corporate Insolvency Resolution Process (CIRP) initiated in January 2021, followed by Liquidation in April 2022, with no resolution plan received. It was subsequently acquired as a going concern via e-auction on 16 August 2024, with the Sale Certificate issued on 23 January 2025 and control transferred on 7 November 2024. The equity share capital (Rs 3,100.49 lakh) and all pre-transfer liabilities have been extinguished per an NCLT Relief Order dated 26 February 2026. The financial results for this historical period were reconstructed on a 'best-effort basis' as the new management had no access to original books of accounts, vouchers, or servers.
The results reflect a company that was effectively non-operational during CIRP and liquidation, with zero revenue and heavy losses. The auditor's disclaimer and the company's extraordinary corporate history — including extinguished equity and reconstructed financials — make these results highly unreliable and unsuitable for normal investment analysis. Shareholders from the pre-acquisition era have effectively lost their investment as equity was cancelled.