The preparation and finalization of audited financial statements for the quarter and year ended 31.03.2026 are under process but delayed.
The delay is due to the ongoing Corporate Insolvency Resolution Process (CIRP) initiated by NCLT Chandigarh Bench order dated 22nd December 2023 in CP (IB) No. 291/Chd/Chd/2018.
The company is not fully operational, and most employees have left since CIRP initiation.
The corporate debtor lacks sufficient funds to make timely payments to remaining employees, with payments pending for a long time.
Powers of the Board of Directors are suspended and vested with the Resolution Professional under Sections 17 & 23 of the Insolvency and Bankruptcy Code, 2016.
Compliance Update:
The audited financial results for the quarter and year ended 31.03.2026 have not been submitted as of the filing date (01.06.2026).
The Resolution Professional is committed to finalizing and submitting the results to the stock exchange at the earliest possible date upon completion of reconciliation and verification.
No further compliance update disclosed regarding actual submission date.
