The Exchange has sought clarification from Radha Madhav Corporation Limited for the quarter ended 31-Mar-2023 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company is required to clarify the following: -1. Standalone auditors report not submitted. -2. Statement of Cash Flow not submitted -3. Segment details not submitted -4. The company has not submitted the Statement of Modified Opinion or in case of unmodified opinion(s), a declaration to that effect to the Stock Exchange. -5. Financial results submitted is not as per format prescribed by SEBI The response of the Company is awaited.
Awaiting price reaction for this filing.
The NSE has asked Radha Madhav Corporation to explain why its financial results for the quarter ending March 2023 are incomplete and not in the right format. Specifically, the company failed to submit the standalone auditor's report, cash flow statement, segment-wise details, and a statement on whether the auditor's opinion was modified or not. The filed results also don't match SEBI's standard format. The company has not yet responded to the exchange's query.
This raises red flags about the company's compliance with listing rules and the quality of its financial disclosures. Until the company responds and files proper results, investors may lose confidence, and prolonged non-compliance could invite penalties or trading restrictions from the exchange.