Majestic Research Services: Auditor Issues Disclaimer of Opinion on Financial Results

Majestic Research Services and Solutions Ltd has released its unaudited financial results for the half-year ended September 30, 2025. However, the independent auditor, JJ Patel & Associates, has issued a disclaimer of opinion. This is primarily due to the company being under Corporate Insolvency Resolution Process (CIRP) since May 25, 2023, and subsequently acquired by a new management on June 20, 2025, following NCLT approval. The auditor could not obtain sufficient appropriate audit evidence regarding opening balances and outstanding dues, as these were not recoverable from or payable by the new management, except as specified in the resolution plan.