Riga Sugar Company Ltd.: Unaudited Financial Results for the Quarter and Half Year Ended September 2024 - In Liquidation

Riga Sugar Company Ltd. has reported its unaudited financial results for the quarter and half year ended 30th September 2024. The company is currently in the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. Due to the liquidation process, the financial results do not include current and non-current assets and liabilities. There are various claims submitted by financial creditors, operational creditors, employees, and other creditors, the overall obligations and liabilities of which will be determined during the CIRP / Liquidation. The company has not assessed or reviewed the plant, machinery, and other fixed assets for impairment, and the impact of employee-related benefits like Gratuity has not been ascertained. There are non-compliances of certain statutory obligations applicable to the company as evidence of compliance has not been provided.