Board Meeting16 May 2026, 03:31 pm
Ashapura Intimates: Standalone Financial Results for FY26
AI Summary
Ashapura Intimates Fashion Ltd's board meeting on May 16, 2026, approved and recorded the audited standalone financial results for the quarter and year ended March 31, 2026. However, the auditor, N.K. Sarraf & Associates, issued a disclaimer of opinion due to several factors, including unavailability of supporting documents, irregularities noted during the CIRP process, non-reconciliation of payables and receivables, non-deposition of statutory dues for prior years, and lack of key financial documents.
Key Highlights
- Audited standalone financial results for FY26 were approved but received a disclaimer of opinion.
- Auditor cited unavailability of supporting documents and reconciliation issues.
- Statutory dues for previous years (2017-2025) were not deposited, though FY26 dues are mostly settled.
- Key financial documents like bank statements were not available for verification.
- Secretarial audit report and board minutes were not provided to the auditor.
Price Impact
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