The Outcome of the board meeting has been attached herewith.
Awaiting price reaction for this filing.
India Infraspace Limited reported audited standalone financial results for FY2026 with a qualified opinion from statutory auditors M/s Nikhil D Gupta & Associates. The auditors flagged four issues: lack of audit trail feature in accounting software, unverifiable bank balances with Union Bank of India, reliance on previous auditor's report for FY2025 figures, and unconfirmed balances of trade receivables (₹96.96 lakh), unsecured loans (₹75.22 lakh), and trade payables (₹278.37 lakh). Total equity declined to ₹195.51 lakh from ₹213.73 lakh, while total assets fell to ₹557.50 lakh from ₹797.94 lakh. The company's equity shares have been delisted from the stock exchange, with a relisting application pending before the Securities Appellate Tribunal (SAT). This is the second occurrence of a qualified audit opinion.
The qualified audit opinion and delisting status signal significant governance and financial transparency concerns. Shareholders face continued uncertainty as the company seeks SAT approval for relisting while dealing with negative other equity of ₹84.49 lakh and unverified financial balances.