Auditor16 May 2026, 03:30 pm
Ashapura Intimates: Auditor Disclaims Opinion on FY26 Results
AI Summary
N.K. Sarraf & Associates, the auditor for Ashapura Intimates Fashion Limited, has disclaimed an opinion on the company's IND AS standalone financial statements for the year ended March 31, 2026. The disclaimer is due to the unavailability of sufficient appropriate audit evidence, including opening balances, reconciliation of payables/receivables, statutory dues compliance, and inventory records. The auditor also noted irregularities and suspected fraudulent transactions from prior years and was unable to verify adjustments made according to NCLT orders due to missing documentation.
Key Highlights
- Auditor disclaims opinion on Ashapura Intimates' FY26 standalone financial statements.
- Disclaimer due to insufficient audit evidence and unavailability of key financial documents.
- Irregularities and suspected fraudulent transactions from prior years remain unresolved.
- Statutory dues compliance and related provisions cannot be verified.
- Adjustments made per NCLT order could not be independently verified.
Price Impact
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