KBS India Ltd: Audit Qualification Impact Statement for Q1 FY27

KBS India Ltd has submitted a statement detailing the impact of audit qualifications for the quarter ended June 30, 2026. The qualifications relate to an unprovided long-term loan and current account balance of ₹17,45,64,977 receivable from its erstwhile subsidiary, KBS Capital Management Singapore Pte Ltd, which has reportedly closed down. No provision was made for this amount, leading to an overstatement of profit and reserves. Additionally, gratuity liability for employees, as required by Ind AS 19, was not provided for due to the absence of actuarial valuation. The company's board is actively working to resolve these issues.