Simbhaoli Sugars Limited has informed the Exchange regarding 'Appointment of Secretarial Auditor' for FY 2025-2026 till 2029-2030
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Simbhaoli Sugars Limited, currently under Corporate Insolvency Resolution Process (CIRP) since July 2024 (stay by NCLAT), held an IRP meeting on May 29, 2026. The meeting approved appointment of M/s Amit Gupta & Associates as Secretarial Auditor for 5 years (FY 2025-26 to FY 2029-30) and M/s Cheena & Associates as Cost Auditor for FY 2025-26. Financial results for Q1-Q3 FY2025-26 and audited standalone Q4 FY2025-26 were also taken on record. The Q1 June 2025 consolidated results show total income of Rs 23,392.40 Lacs with net loss of Rs 2,243.24 Lacs. The statutory auditors issued an Adverse Conclusion citing unprovided interest expenses of Rs 18,339 Lacs, going concern doubts, and issues in subsidiary companies.
The stock remains suspended from trading due to CIRP proceedings. The adverse auditor opinion and ongoing insolvency process indicate extremely high risk for shareholders. The appointment of auditors is routine compliance during CIRP but doesn't change the fundamental distressed situation of the company.