Board Meeting Details

The adjourned meeting of the Board of Directors was reconvened and held on May 25, 2026, at the Registered Office of the Company at 555, Double Storey, New Rajinder Nagar, New Delhi-110060. The meeting commenced at 05:15 PM and concluded at 05:35 PM.

Key Financial Results

Standalone Financials (Amounts in ₹ lakhs, except per share data)

Balance Sheet as at March 31, 2026:

  • Total Assets: ₹95,157.26 lakhs (Previous year: ₹96,968.27 lakhs)
  • Equity Share Capital: ₹2,043.17 lakhs (unchanged from previous year)
  • Other Equity: ₹93,087.89 lakhs (Previous year: ₹94,830.47 lakhs)
  • Total Equity: ₹95,131.06 lakhs (Previous year: ₹96,873.64 lakhs)

Statement of Profit and Loss for Year Ended March 31, 2026:

  • Total Income: ₹43.80 lakhs (Previous year: ₹45.94 lakhs)
  • Total Expenses: ₹1,785.37 lakhs (Previous year: ₹112.17 lakhs)
  • Loss before tax: ₹(1,741.57) lakhs (Previous year: ₹(66.23) lakhs)
  • Total tax expense: ₹1.01 lakhs (Previous year: ₹0.00 lakhs)
  • Net Loss for the year: ₹(1,742.58) lakhs (Previous year: ₹(66.23) lakhs)
  • Basic EPS: ₹(8.53) (Previous year: ₹(0.32))
  • Diluted EPS: ₹(8.53) (Previous year: ₹(0.32))

Quarterly Results (Q4 FY26):

  • Total Income: ₹43.41 lakhs
  • Total Expenses: ₹416.74 lakhs
  • Loss before tax: ₹(373.32) lakhs
  • Net Loss for quarter: ₹(374.34) lakhs
  • Basic EPS: ₹(1.83)
  • Diluted EPS: ₹(1.83)

Cash Flow Statement

  • Net cash from operating activities: ₹(1,641.49) lakhs
  • Net cash used in investing activities: ₹1,732.59 lakhs
  • Net cash used in financing activities: ₹(86.00) lakhs
  • Net increase in cash: ₹5.10 lakhs
  • Cash and cash equivalents at end: ₹38.00 lakhs

Auditor's Report Key Findings

VRSK & Associates issued a qualified opinion with the following key observations:

Basis for Qualified Opinion:

  • Financial statements may not give true and fair view due to non-provision of interest on loans
  • Company should have prepared financial statements in compliance with Ind-AS as prescribed
  • Previous year's financial statements also prepared without Companies (Accounting Standard) Rules 2021

Key Audit Matters:

1. Loan Advances: Company had advances of ₹48.74 lakhs with variety of terms defining contract of loans

2. Fair Valuation of Investments: Investments in unquoted instruments require significant judgment for valuation

Other Legal and Regulatory Requirements:

  • Company does not comply with Indian Accounting Standards specified under Section 133 of the Act
  • No uncertainty regarding going concern status
  • Internal financial controls report expresses qualified opinion
  • No pending litigations impacting financial position
  • No fraud reported during the year
  • Company not registered under section 45-IA of RBI Act, 1934, though required
  • Cash losses of ₹1,658.83 lakhs incurred in current financial year

CARO 2020 Annexure Findings

Key observations from Auditor's Report under Companies Act, 2013:

  • Company maintains proper records of Property, Plant and Equipment
  • No physical inventory as investments held in dematerialized accounts
  • Loan details: Opening balance ₹48.74 lakhs, no loans given during year, closing balance ₹48.74 lakhs
  • Company invested in shares of group companies exceeding limits under section 186 of Companies Act
  • Statutory dues: Company regular except for TDS of ₹0.05 lakhs and GST of ₹0.25 lakhs under reverse charge not deposited
  • Pending tax demand of ₹0.05 lakhs for AY 2023-24
  • No money raised through public offer or private placement during year
  • Company not capable of meeting liabilities falling due within one year from balance sheet date
  • CSR provisions applicable and fully spent