Result for the quarter ended December 31, 2020
Awaiting price reaction for this filing.
Talwalkars Better Value Fitness Limited has submitted reconstructed financial results for Q2 FY21 (quarter ended December 31, 2020) on a best-effort basis. The company was under Corporate Insolvency Resolution Process (CIRP) from January 2021 and subsequently Liquidation from April 2022, with operations suspended during these periods. The current management acquired the company on November 7, 2024, but did not have access to original books of accounts, vouchers, or IT servers for the historical period. Revenue from operations was nil for all periods reported, with a net loss of Rs. 843.85 lakhs for the quarter. Depreciation stood at Rs. 843.85 lakhs. The NCLT Relief Order dated February 26, 2026, has extinguished all pre-transfer liabilities and cancelled the existing equity share capital. Fresh Start Accounting has been adopted effective the Transfer Date. The auditors issued a Disclaimer of Conclusion as they could not obtain sufficient appropriate evidence to provide a basis for review due to pervasive scope limitations.
The stock remains under a cloud due to the disclaimer of opinion, non-availability of audited records, and cancellation of pre-transfer equity capital. Shareholders from the pre-acquisition period have effectively lost their holdings. Post-acquisition, the company is now on a going concern basis, but investors should exercise caution given the extremely limited financial data and ongoing regulatory compliance history.