Result for the quarter ended December 31, 2021
Awaiting price reaction for this filing.
Talwalkars Better Value Fitness Limited (TBVFL) filed its quarterly results for Q3 FY22 ending December 31, 2021, along with other historical periods (Sep 2019–Dec 2024) that were reconstructed on a 'best-effort basis' due to the absence of complete books of accounts. The company went through CIRP (initiated January 2021, no resolution plan received) and then Liquidation (ordered April 2022). During these periods, the company was not operational, suspended all activities, and had no Board of Directors. Revenue from operations was zero for all periods reported, with only depreciation charges (Rs 816.05 lakh for the quarter). The company reported a net loss of Rs 816.05 lakh for the quarter, and a cumulative loss of Rs 2,448.15 lakh for the nine months ended December 31, 2021. The current management, which acquired the company vide a Sale Certificate dated January 23, 2025 (Transfer Date: November 7, 2024), reconstructed these results relying on fragmented data. Pre-transfer equity share capital and all pre-transfer liabilities have been permanently extinguished pursuant to an NCLT Relief Order dated February 26, 2026. Fresh Start Accounting has been adopted from the Transfer Date.
This filing covers a historical period when the company was under insolvency and liquidation with zero revenue and heavy losses. The pre-transfer equity and liabilities have been extinguished, meaning old shareholders and pre-transfer creditors have no claim on the restructured entity. The new company is a going concern, but the historical results are not comparable to normal operations.