Financial Results Overview (Standalone - Quarter Ended June 30, 2026)

  • Total Income (net): ₹26.52 lakh (compared to ₹26.80 lakh in previous quarter and ₹27.03 lakh in year-ago quarter)
  • Revenue from operations: ₹0.00
  • Other Operating Income: ₹26.52 lakh
  • Total Expenses: ₹81.31 lakh (includes Employee benefits expense ₹0.00, Depreciation ₹80.87 lakh, Other expenses ₹0.43 lakh)
  • Loss Before Tax: ₹(54.79) lakh
  • Tax Expenses: ₹0.00
  • Net Loss for the period: ₹(54.79) lakh
  • Paid-up equity share capital: ₹7361.00 lakh (Face Value of ₹1 each)
  • Earnings Per Share (EPS): Not calculable/meaningful

Financial Results Overview (Consolidated - Quarter Ended June 30, 2026)

  • Total Income (net): ₹26.52 lakh
  • Revenue from operations: ₹0.00
  • Other Operating Income: ₹26.52 lakh
  • Total Expenses: ₹115.77 lakh
  • Loss Before Tax: ₹(89.25) lakh
  • Net Loss for the period: ₹(89.25) lakh

Corporate Insolvency Resolution Process Details

  • Corporate Insolvency Resolution Process initiated on 29th May 2020 by NCLT order (MP) CP (IB) No. 7/9/NCLT/AHM/2019
  • Petition filed by Mr. Kishor Ramniklal Unadikat, sole proprietor of M/s Shakti Clearing Agency under section 9 of Insolvency and Bankruptcy Code, 2016
  • Mr. Rajiv Goyal initially appointed as Insolvency Resolution Professional (IRP)
  • CoC approved replacement of IRP with Mr. Gautam Mittal as Resolution Professional with 100% voting on 4th September 2020 via IA No. 111 of 2020
  • RP invited expression of interest; received five eligible EOIs but none of the resolution plans were approved by CoC
  • CoC decided to liquidate the company; liquidation process application filed with NCLT
  • Company continues limited commercial activities (warehousing, leasing, job work) at permitted level under RP and CoC supervision

Auditor Qualifications and Observations

  • Expenses treated on cash basis against company policy (unpaid cumulative expenses of ₹302.48 lakh including Audit Fee ₹54.28 lakh, Salary Expenses ₹106.35 lakh, Advertisement Expenses ₹3.34 lakh, Security Expenses ₹90.60 lakh, Professional Expenses ₹99.76 lakh)
  • Bank balances subject to confirmation from management; minimal transactions except in two bank accounts
  • No accounting impact made for claims reconciliation process for operational and financial creditors
  • Interest payable on borrowings after insolvency commencement date (29th May 2020) not recognized, non-compliant with Ind AS 23 and Ind AS 109
  • Carrying value of tangible assets: ₹5410.96 lakh with no impairment assessment made as required by Ind AS 36
  • No consideration of impact on tangible asset values due to CIRP and liquidation process

Cash Flow Statements (Standalone)

  • Net cash flow from operating activities: ₹(115,879)
  • Net cash flow from investing activities: ₹128,066
  • Net cash flow from financing activities: ₹0
  • Net increase in cash & cash equivalents: ₹12,188
  • Cash equivalents at period end: ₹2,491,893

Governance and Approval

  • Financial results prepared by management and certified by Mr. Anil Vishwakarma, Chief Financial Officer
  • Results considered and recommended by RP and CFO on 5th August 2026
  • RP approved the statements exercising powers of suspended Board of Directors under Section 17 of IBC
  • Board of Directors (suspended) meeting held on 13th August 2026 to take on record
  • Auditors: Husain Shabbir & Co., Chartered Accountants (FRN: 006601C)