Infronics Systems: Board Approves Un-Audited Results, Appoints Secretarial Auditor

Infronics Systems Ltd's Board of Directors, in a meeting held on October 29, 2026, approved the unaudited financial results for the quarter and half-year ended September 30, 2026. The company also appointed M/s. R & A Associates as the Secretarial Auditor for FY 2026-27. Notably, the independent auditor's report highlighted an 'Adverse Conclusion', stating that the financial results were not prepared in accordance with Ind AS 34 and contained material misstatements. The auditor cited the cessation of the company's primary revenue-generating business (BSNL SMS services), ongoing restrictions on bank accounts, and a significant unresolved claim from Mudunuru Limited as reasons indicating a material uncertainty about the company's ability to continue as a going concern. The auditor concluded that the company has no realistic alternative but to cease operations, making the going concern basis inappropriate.