Regulatory Context and Corporate Status
The company is undergoing Corporate Insolvency Resolution Process (CIRP) pursuant to NCLT New Delhi Bench (Court-II) order dated 09.07.2026 in CP No. IB-263/ND/2023. The Hon'ble NCLT approved the Resolution Plan submitted by Norfolk Technology Services Limited on 09.07.2026, which was disclosed on BSE portal on 15.07.2026 and communicated via email on 17.07.2026.
Under Section 17 of the Insolvency and Bankruptcy Code, 2016, the powers of the Board of Directors stand suspended and are exercised by the interim resolution professional. Regulation 15(2A) of SEBI LODR Regulations exempts the company from Regulation 17 requirements during the insolvency resolution process period, with responsibilities fulfilled by the resolution professional under Sections 17 and 23 of IBC.
Monitoring Committee and Approval Process
A Monitoring Committee was constituted and communicated to BSE via email dated 16.07.2026. The first meeting of the Monitoring Committee was convened on 27.08.2026 after initial scheduling difficulties due to member unavailability. The meeting commenced at 5:39 PM and concluded at 7:49 PM.
The Monitoring Committee approved the Unaudited Financial Results along with Limited Review Report for the quarter ended 30th June 2026 in accordance with Regulations 33 and 52 of SEBI LODR Regulations.
Financial Results for Quarter Ended 30 June 2026 (Unaudited)
Income from Operations:
- Other operating Income: ₹2.34 lakhs
- Total Income from operations (net): ₹2.34 lakhs
Expenses:
- Other Expenses: ₹0.00 lakhs
- Legal and professional charges: ₹14.00 lakhs
- Total Expenses: ₹14.00 lakhs
Profit/Loss:
- Loss from operations before finance costs: (₹11.66) lakhs
- Finance Cost: ₹0.00 lakhs
- Loss from ordinary activities before tax: (₹11.66) lakhs
- Tax expense: ₹0.00 lakhs
- Net Loss for the period: (₹11.66) lakhs
Capital Structure:
- Paid up equity share capital (Face Value ₹10/- per share): Not quantified in current period
- Reserves (Excluding Revaluation Reserves): ₹1,497.56 lakhs
Earnings Per Share (EPS):
- Basic EPS: (₹0.08)
- Diluted EPS: (₹0.08)
Comparative Financial Data
Quarter Ended 31.03.2026 (Audited):
- Total Income: ₹2.56 lakhs
- Total Expenses: ₹14.85 lakhs
- Net Loss: (₹12.31) lakhs
- EPS: (₹0.08)
Quarter Ended 30.06.2025 (Unaudited):
- Total Income: ₹1.33 lakhs
- Total Expenses: ₹4.56 lakhs
- Net Loss: (₹3.23) lakhs
- EPS: (₹0.02)
Year Ended 31.03.2026 (Audited):
- Total Income: ₹8.46 lakhs
- Total Expenses: ₹22.85 lakhs
- Net Loss: (₹14.40) lakhs
- EPS: (₹0.10)
Year Ended 31.03.2025 (Audited):
- Total Income: ₹9.80 lakhs
- Total Expenses: ₹5.43 lakhs
- Net Profit: ₹4.33 lakhs
- EPS: ₹0.03
Auditor's Limited Review Report
Girotra & Co., Chartered Accountants issued a limited review report dated 30/07/2026. The review was conducted in accordance with Standard on Review Engagement (SRE) 2410. The report states that nothing has come to their attention that causes them to believe that the financial results contain any material misstatement or fail to disclose required information under Regulation 33 of SEBI LODR Regulations.
Notes to Financial Results
1) Financial results were reviewed by the Committee of Creditors
2) Prepared in accordance with Indian Accounting Standards (IND AS)
3) Previous period amounts regrouped/reclassified for IND-AS compliance
4) Company operates in single segment
5) Current quarter figures are balancing figures between audited full year and published year-to-date figures