The Monitoring Committee appointed M/s Abid & Co., Company Secretaries, as the Secretarial Auditor of the Company in its meeting held on May 27, 2026.
Awaiting price reaction for this filing.
R.R. Tibrewala & Co., Chartered Accountants, issued qualified limited review reports for three consecutive quarters (June, September, and December 2025) of Omkar Speciality Chemicals Limited. The company was under Corporate Insolvency Resolution Process (CIRP) during all periods under review. A Resolution Plan was approved by NCLT on 31 July 2025, after the first quarter. The company failed to prepare financial results for the first three quarters of FY 2024-25, making comparative figures unavailable. All quarters showed losses, and for Q1 June 2025 specifically, the company reported negative net worth, raising material uncertainty about going concern. Financial results were prepared on going concern basis citing the approved resolution plan.
The qualified auditor conclusions and negative net worth signal significant financial distress despite the resolution plan approval. Shareholders should note that while the NCLT-approved resolution plan provides some hope, the company continues to report losses and lacks comparable historical financial data, making the stock high-risk.