RCI Industries & Technologies Ltd — Updates, 18-07-2025: Company Update

RCI Industries & Technologies, currently under Corporate Insolvency Resolution Process (CIRP) since November 2022, has clarified the delay in submitting its financial results for the quarter ended June 30, 2025. The Resolution Professional (RP) states that the delay is due to significant non-cooperation from the previous management and ex-auditors, leading to a lack of accounting data. Multiple attempts to appoint new professionals to finalize accounts have also been unsuccessful as they resigned. The RP has initiated legal actions against the non-cooperating parties, highlighting the extraordinary challenges in preparing financial statements amidst the insolvency process.