Result for the quarter ended September 30, 2020
Awaiting price reaction for this filing.
Talwalkars Better Value Fitness Ltd has filed Q2 FY21 results (quarter ended September 2020) showing zero revenue from operations as the company's fitness centres were non-operational. The company reported a net loss of Rs. 843.85 lakhs, compared to a loss of Rs. 1,157.30 lakhs in the same quarter of the previous year. The auditor (SK Bhavsar & Co.) has issued a Disclaimer of Conclusion, stating they could not obtain sufficient appropriate evidence to provide a review conclusion. The company underwent Corporate Insolvency Resolution Process (CIRP) initiated in January 2021 and subsequent liquidation (April 2022 to November 2024). The current management acquired the company on November 7, 2024, and these historical financial results have been reconstructed on a best-effort basis as the complete books of accounts were not available. Per the NCLT Order dated February 26, 2026, all pre-transfer liabilities have been extinguished and the old equity share capital stands cancelled.
This filing covers a historical period (Q2 FY21) when the company was under insolvency proceedings and not operational. The financial results are unreliable as reconstructed data without auditor assurance. Shareholders from the pre-acquisition period should note that their equity has been cancelled per the NCLT order; new investors acquiring post-November 2024 face a company with cleared liabilities but limited historical track record.