SecUR Credentials reported a standalone net loss of ₹132.99 lakh for Q2 FY25, with total income of ₹97.66 lakh.
Auditors identified multiple non-compliances including a ₹152.12L loan to a director violating Companies Act Section 185.
Inventory was found non-existent during physical verification, indicating possible prior period overstatement with unquantified impact.
The company failed to recognize provisions for gratuity, expected credit losses, and deferred tax assets on carried forward losses.