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SRM Energy's board has approved the financial results for the first quarter. Auditors issued a qualified conclusion due to the company and its subsidiary having no business operations, continuous cash losses, eroded net worth, and current liabilities exceeding assets, raising significant doubt on their going concern status. The company plans to sell its subsidiary investment of Rs 1.32 Cr for Rs 0.01 Cr, leading to a Rs 1.31 Cr impairment. The subsidiary also faces a Rs 43.27 Cr SEBI attachment order, land sale issues, and a Rs 0.60 Cr doubtful advance, further impacting its financial health. Employee salaries of Rs 0.14 Cr remain unpaid.