IGC Industries Ltd — Board Meeting, 14-08-2025: Board Meeting

IGC Industries has announced a board meeting where it approved the financial results for the quarter, reporting a net loss of 0.00 Cr. Critically, the company's auditors issued a Disclaimer of Opinion, highlighting severe concerns. These include ₹20.72 Cr in undocumented advances from a ₹42.22 Cr rights issue, a ₹20.00 Cr payment to CNX Corporation without supporting evidence, and proceeds from the rights issue not being used as stated. Auditors also noted that the company accepted 41.53 in potential deposit rule violations and raised substantial doubt about its ability to continue operations due to recurring losses, lacking a viable management plan. This signals significant financial and operational risks for shareholders.