The Board of Directors of the Company in their meeting held on August 11, 2025, considered and appointed M/s. Rahul J Garg & Associates, Chartered Accountants (FRN: 035806N), as the Internal ....
Awaiting price reaction for this filing.
The Board of C & C Constructions met on August 11, 2025 and approved the unaudited financial results for Q1 FY26 (quarter ended June 30, 2025), showing a loss before tax of Rs. 1.47 lakhs on total income of Rs. 34.99 lakhs, almost entirely from 'other income' with zero revenue from operations. The Board appointed three new auditors: ASG & Associates as Statutory Auditors for a five-year term (FY 2025-26 to FY 2029-30), Preet Kumar & Associates as Secretarial Auditors for five years, and Rahul J Garg & Associates as Internal Auditors for FY 2025-26. CFO Mr. Avanish Kumar resigned effective the close of business on August 11, 2025, citing family commitments and personal exigency, with no other material reasons stated. The company was acquired as a going concern by M/s R K Constructions on December 27, 2024 for Rs. 104 crores, following NCLT's liquidation order in October 2022, but the formal closure of IBC liquidation proceedings remains pending.
The CFO resignation adds to governance uncertainty at a company that is still navigating an unresolved IBC liquidation process despite the new promoter takeover. Fresh auditor appointments suggest the new management is trying to rebuild governance norms, but shareholders should note that revenue from operations is nil and material IBC-related adjustments to assets and liabilities are still pending NCLT rulings.