The Board has appointed M/s Shailendra Roy & Associates as Secretarial Auditor of the Company
Awaiting price reaction for this filing.
Wisec Global's board approved audited financial results for FY25 showing zero revenue from operations and a net loss of Rs. 25.70 lakhs, narrowing from a Rs. 285.91 lakh loss in FY24. The company's reserves are deeply negative at Rs. (1,187.06) lakhs against share capital of Rs. 1,165.01 lakhs, indicating fully eroded net worth. Most notably, the board approved filing an application for a Pre-Packaged Insolvency Resolution Process (PPIRP) with the NCLT, a significant distress signal for a listed entity. Additionally, Shailendra Roy & Associates was appointed as Secretarial Auditor for FY24-25, Skyline Financial Services replaced Alankit Assignments as the company's RTA, and the board is exploring shifting the registered office.
The initiation of the Pre-Packaged Insolvency Resolution Process is a major red flag — existing shareholders face a high risk of equity dilution or write-down as lenders and resolution applicants restructure the company. Expect sharp negative sentiment on the stock and heightened scrutiny from regulators and investors.