Jiya Eco-Products reported a net loss of ₹10.41 crore for FY2024-25 with operations suspended since May 2021 and undergoing Corporate Insolvency Resolution Process since April 2023.
NCLT approved the resolution plan on December 11, 2024, with Pradeep Khandagale declared Successful Resolution Applicant and significant board restructuring including new independent directors.
Auditors issued disclaimer opinion due to material uncertainties from CIRP process, inability to verify assets, and going concern issues affecting financial statements reliability.
The company faces substantial liabilities including ₹237.90 crore in borrowings, tax dues of ₹3.05 crore, and trade receivables of ₹13.94 crore classified beyond 12 months overdue.