Housing Development and Infrastructure Limited — Board Meeting, 15-11-2024: Outcome of Board Meeting

Housing Development & Infrastructure Limited has reviewed its unaudited standalone financial results for the quarter and half-year. Due to significant operational challenges, including non-cooperation from key personnel, the company is unable to present consolidated financial results. The Interim Resolution Professional has noted that opening balances from prior periods could not be reconciled, impacting future financial results. There are ongoing governmental investigations affecting the company, and uncertainties remain regarding its ability to continue as a going concern through the Corporate Insolvency Resolution Process. Provisions for doubtful receivables amount to ₹178.29 crores.