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IGC Industries has announced a board meeting where its financial results for the quarter were approved. The company reported nil revenue and a net profit of 0.0174 Cr. Critically, auditors issued a disclaimer of opinion, citing major concerns. These include a lack of documentation for ₹20.72 Cr in rights issue advances and a ₹20.00 Cr payment to CNX Corporation. Auditors also noted the rights issue proceeds were not used as stated and 41.53 was accepted from individuals potentially violating rules. Continuous losses raise substantial doubt about the company's ability to operate, posing significant risks for shareholders.