Integrated Filing — IndAS



General information about company
Scrip Code 519494
NSE Symbol NKIND
MSEI Symbol NOTLISTED
ISIN INE542C01019
Name of company NK INDUSTRIES LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-Apr-2024
Date of end of financial year 31-Mar-2025
Date of board meeting when results were approved 23-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 19-May-2025
Description of presentation currency INR (in Actuals)
Reporting Type Half Yearly
Reporting Quarter Yearly
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Single segment
Description of single segment Non - edible oil industries
Start date and time of board meeting 23-May-2025   14:00:00
End date and time of board meeting 23-May-2025   18:00:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification



Financial Results Ind-AS
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Oct-2024 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Part I Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1 Income
Revenue from operations 42756000 161282000
Other income 3010000 6783000
Total income 45766000 168065000
2 Expenses
(a) Cost of materials consumed 0 0
(b) Purchases of stock-in-trade 0 0
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0 0
(d) Employee benefit expense 8460000 30422000
(e) Finance costs 18000 90000
(f) Depreciation, depletion and amortisation expense 4955000 25571000
(f) Other Expenses
1 Other expenses 58028000 148334000
Total other expenses 58028000 148334000
Total expenses 71461000 204417000
3 Total profit before exceptional items and tax -25695000 -36352000
4 Exceptional items 0 0
5 Total profit before tax -25695000 -36352000
6 Tax expense
7 Current tax 0 0
8 Deferred tax 924000 -826000
9 Total tax expenses 924000 -826000
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0 0
11 Net Profit Loss for the period from continuing operations -26619000 -35526000
12 Profit (loss) from discontinued operations before tax 0 0
13 Tax expense of discontinued operations 0 0
14 Net profit (loss) from discontinued operation after tax 0 0
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0 0
16 Total profit (loss) for period -26619000 -35526000
17 Other comprehensive income net of taxes -2545000 -3866000
18 Total Comprehensive Income for the period -29164000 -39392000
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 0 0
Total profit or loss, attributable to non-controlling interests 0 0
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 0 0
Total comprehensive income for the period attributable to owners of parent non-controlling interests 0 0
21 Details of equity share capital
Paid-up equity share capital 60099000 60099000
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve 0
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations -4.43 -0.71
Diluted earnings (loss) per share from continuing operations -4.43 -0.71
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations -4.43 -0.71
Diluted earnings (loss) per share from discontinued operations -4.43 -0.71
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations -8.86 -1.42
Diluted earnings (loss) per share from continuing and discontinued operations -8.86 -1.42
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results



Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities
Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-Apr-2024
Date of end of reporting period 31-Mar-2025
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 1149889000
Capital work-in-progress 67883000
Investment property 0
Goodwill 823624000
Other intangible assets 32000
Intangible assets under development 0
Biological assets other than bearer plants 0
Investments accounted for using equity method 0
Non-current financial assets
Non-current investments 1576000
Trade receivables, non-current 15969115000
Loans, non-current 2679000
Other non-current financial assets 79673000
Total non-current financial assets 16053043000
Deferred tax assets (net) 241752000
Other non-current assets 327341000
Total non-current assets 18663564000
2 Current assets
Inventories 1576000
Current financial asset
Current investments 13910000
Trade receivables, current 232863000
Cash and cash equivalents 7001000
Bank balance other than cash and cash equivalents 0
Loans, current 1636000
Other current financial assets 10391000
Total current financial assets 265801000
Current tax assets (net) 855000
Other current assets 1214000
Total current assets 269446000
3 Non-current assets classified as held for sale 0
4 Regulatory deferral account debit balances and related deferred tax Assets 0
Total assets 18933010000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 60099000
Other equity -3541159000
Total equity attributable to owners of parent -3481060000
Non controlling interest
Total equity -3481060000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 0
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 896000
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 22326471000
Total Trade payable 22327367000
Other non-current financial liabilities 7700000
Total non-current financial liabilities 22335067000
Provisions, non-current 42524000
Deferred tax liabilities (net) 0
Deferred government grants, Non-current 0
Other non-current liabilities 0
Total non-current liabilities 22377591000
Current liabilities
Current financial liabilities
Borrowings, current 0
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 666000
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 9732000
Total Trade payable 10398000
Other current financial liabilities 2146000
Total current financial liabilities 12544000
Other current liabilities 11969000
Provisions, current 11966000
Current tax liabilities (Net) 0
Deferred government grants, Current 0
Total current liabilities 36479000
3 Liabilities directly associated with assets in disposal group classified as held for sale
4 Regulatory deferral account credit balances and related deferred tax liability
Total liabilities 22414070000
Total equity and liabilites 18933010000
Disclosure of notes on assets and liabilities



Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-Oct-2024 01-Apr-2024
Date of end of reporting period 31-Mar-2025 31-Mar-2025
Whether accounts are audited or unaudited Audited Audited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Oct-2024 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Amount of items that will not be reclassified to profit and loss -3591000 -5454000
Total Amount of items that will not be reclassified to profit and loss -3591000 -5454000
2 Income tax relating to items that will not be reclassified to profit or loss -1046000 -1588000
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss 0 0
5 Total Other comprehensive income -2545000 -3866000



Cash flow statement, indirect
Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-Apr-2024
B Date of end of reporting period 31-Mar-2025
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Consolidated
Part I Blue color marked fields are non-mandatory.
Statement of cash flows
Cash flows from used in operating activities
Profit before tax -36352000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 90000
Adjustments for decrease (increase) in inventories -3296000
Adjustments for decrease (increase) in trade receivables, current -1465000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets 0
Adjustments for decrease (increase) in other non-current assets 0
Adjustments for other financial assets, non-current 3142000
Adjustments for other financial assets, current 3500000
Adjustments for other bank balances 0
Adjustments for increase (decrease) in trade payables, current 2987000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities 0
Adjustments for increase (decrease) in other non-current liabilities 0
Adjustments for depreciation and amortisation expense 25571000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for provisions, current 0
Adjustments for provisions, non-current 0
Adjustments for other financial liabilities, current 0
Adjustments for other financial liabilities, non-current 0
Adjustments for unrealised foreign exchange losses gains 0
Adjustments for dividend income 0
Adjustments for interest income -5596000
Adjustments for share-based payments 0
Adjustments for fair value losses (gains) 0
Adjustments for undistributed profits of associates 0
Other adjustments for which cash effects are investing or financing cash flow 0
Other adjustments to reconcile profit (loss) 0
Other adjustments for non-cash items 0
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0
Total adjustments for reconcile profit (loss) 36125000
Net cash flows from (used in) operations -227000
Dividends received 0
Interest paid 0
Interest received 0
Income taxes paid (refund) 0
Other inflows (outflows) of cash -29929000
Net cash flows from (used in) operating activities -30156000
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0
Cash flows used in obtaining control of subsidiaries or other businesses 0
Other cash receipts from sales of equity or debt instruments of other entities 0
Other cash payments to acquire equity or debt instruments of other entities 0
Other cash receipts from sales of interests in joint ventures 0
Other cash payments to acquire interests in joint ventures 0
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0
Proceeds from sales of property, plant and equipment 0
Purchase of property, plant and equipment 9722000
Proceeds from sales of investment property 0
Purchase of investment property 0
Proceeds from sales of intangible assets 0
Purchase of intangible assets 0
Proceeds from sales of intangible assets under development 0
Purchase of intangible assets under development 0
Proceeds from sales of goodwill 0
Purchase of goodwill 0
Proceeds from biological assets other than bearer plants 0
Purchase of biological assets other than bearer plants 0
Proceeds from government grants 0
Proceeds from sales of other long-term assets 0
Purchase of other long-term assets 0
Cash advances and loans made to other parties 0
Cash receipts from repayment of advances and loans made to other parties 0
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0
Dividends received 0
Interest received 5596000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 26551000
Net cash flows from (used in) investing activities 22425000
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0
Payments from changes in ownership interests in subsidiaries 0
Proceeds from issuing shares 0
Proceeds from issuing other equity instruments 0
Payments to acquire or redeem entity's shares 0
Payments of other equity instruments 0
Proceeds from exercise of stock options 0
Proceeds from issuing debentures notes bonds etc 0
Proceeds from borrowings 0
Repayments of borrowings 0
Payments of lease liabilities -7701000
Dividends paid 0
Interest paid 90000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) financing activities 7611000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes -120000
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0
Net increase (decrease) in cash and cash equivalents -120000
Cash and cash equivalents cash flow statement at beginning of period 8698000
Cash and cash equivalents cash flow statement at end of period 8578000





Details of Impact of Audit Qualification
Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Auditor's opinion Qualified opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 Pankaj R. Shah & Associates Yes 31-Oct-2024


Financial details
Sr. Particulars Audited Figures (as reported before adjusting for qualifications) Adjusted Figures (audited figures after adjusting for qualifications)
1 Turnover / Total income 168065000 197250000
2 Total Expenditure 204417000 207898000
3 Net Profit/(Loss) -35526000 -10305000
4 Earnings Per Share -5.91 -1.71
5 Total Assets 18933009000 18961929000
6 Total Liabilities 22405473000 22402937000
7 Net Worth -3481060000 -3441008000


Audit qualification
Sr. Details of Audit Qualification Type of Audit Qualification Frequency of qualification For Audit Qualification(s) where the impact is quantified by the auditor For Audit Qualification(s) where the impact is not quantified by the auditor
Management's Views (i) Management's estimation on the impact of audit qualification (ii) If management is unable to estimate the impact, reasons for the same Auditors' Comments on (i) or (ii) above
1 Textual Information(1) Qualified opinion Repetitive Textual Information(2) Textual Information(3) Textual Information(4) Textual Information(5)
2 Textual Information(6) Qualified opinion Repetitive Textual Information(7) Textual Information(8) Textual Information(9) Textual Information(10)
3 Textual Information(11) Qualified opinion Repetitive Textual Information(12) Textual Information(13) Textual Information(14) Textual Information(15)
4 Textual Information(16) Qualified opinion Repetitive Textual Information(17) Textual Information(18) Textual Information(19) Textual Information(20)


Text Block
Textual Information(1) 1.tRegarding transactions of the Company through trading and clearing member with NSEL and notice issued by EOW under the Maharashtra Protection of Interest of Depositors (in financial establishments) Act, 1999 (MPID) Act.
Textual Information(2) The Auditors have not quantified the impact of their qualifications on the financial statements of the Company as the matters pertaining to the qualification are pending before various Courts/Statutory authorities and are subjudice at present.
Textual Information(3) Nil
Textual Information(4) 1.tNational spot Exchange Limited (NSEL) has served a notice to N K Proteins Private Limited (Formerly known as N K Proteins Limited) who was a Trading and Clearing Member at NSEL and N K Industries Limited was only a client Company of Trading Member i.e. N K Proteins Limited. As regards, the balances of trade receivables and trade payables arising out of the transactions through NSEL platform, the same cannot be confirmed pursuant to the pendency of litigations and as the matter is still pending before the respective authorities. Further, the Home Department, Government of Maharashtra has issued a notification under the MPID Act, 1999 securing the attachment of Land & Building and Plant & Machinery of the Company. Against this the Company had challenged the notification issued by Home department, Government of Maharashtra, before the Honble High Court of Gujarat. The Honble Gujarat High Court had disposed off the application of the Company vide its order dated 29th March 2017.Against the said order the Company had preferred a Special Leave Petition before the Honble Supreme Court of India. The Honble Supreme Court of India had disposed off the Special Leave Petition on 17/04/2017, with an observation to file an application before the Honble Bombay High Court. The Company has filed petition before the Honble Bombay High Court in June 2017. Besides this, the Company has also filed its objections against the attachment notification before the Designated Special MPID Court, Mumbai the matter is subjudice. n n2.tWith respect to point no.2 of qualified opinion of Auditors Report, it is hereby clarified that it is hereby clarified that the Company along with Group Company and promoters challenged the show cause notice issued by the adjudicating authority New Delhi, before the Honble High Court of Delhi and the Honble High Court has set aside the said show cause notice. The Director of Enforcement has attached assets of the company, group company NKPL and the promoters of the company by issuing a fresh show cause notice dated 30/08/2018 and the company has filed an appeal before PMLA Appellate Tribunal, Delhi. Still the matter is sub-judice. n n3.tWith regard to the supplementary charge sheet filed the Company has complied with the summons dated 7th June, 2022 to remain present before the MPID Court on 20th June 2022 that was adjourned to 28th July 2022, 25th August, 2022,10th November 2022, 23rd March 2023 and now the matter is further adjourned to 25th May,2023. Therefore, the matter is sub-judice. n n4.tThe National Spot Exchange Limited (NSEL) has initiated recovery proceedings against the Group Company N K Proteins Private Limited (Formerly known as N K Proteins Limited) who was a trading and clearing member at NSEL. As regards the said recovery proceedings initiated by NSEL and has also made Tirupati Retail (India) Private Limited, subsidiary Company a party to the said proceedings, the matter is sub-judice and still pending before the respective Authorities. n n
Textual Information(5) We have qualified our report with respect to various transactions entered into by the Company on NSEL Platform and the matter is presently pending before various courts/statutory authorities and accordingly it is subjudice and not determinable. The quantification of amount can be determined only upon the receipt of judgment from the respective authorities and till that time neither the Company nor we as auditors, can quantify the impact of the same on the financial results of the Company.
Textual Information(6) 2.tRegarding proceedings initiated by the Directorate of Enforcement under the Prevention of Money Laundering Act, 2002
Textual Information(7) The Auditors have not quantified the impact of their qualifications on the financial statements of the Company as the matters pertaining to the qualification are pending before various Courts/Statutory authorities and are subjudice at present.
Textual Information(8) Nil
Textual Information(9) 1.tNational spot Exchange Limited (NSEL) has served a notice to N K Proteins Private Limited (Formerly known as N K Proteins Limited) who was a Trading and Clearing Member at NSEL and N K Industries Limited was only a client Company of Trading Member i.e. N K Proteins Limited. As regards, the balances of trade receivables and trade payables arising out of the transactions through NSEL platform, the same cannot be confirmed pursuant to the pendency of litigations and as the matter is still pending before the respective authorities. Further, the Home Department, Government of Maharashtra has issued a notification under the MPID Act, 1999 securing the attachment of Land & Building and Plant & Machinery of the Company. Against this the Company had challenged the notification issued by Home department, Government of Maharashtra, before the Honble High Court of Gujarat. The Honble Gujarat High Court had disposed off the application of the Company vide its order dated 29th March 2017.Against the said order the Company had preferred a Special Leave Petition before the Honble Supreme Court of India. The Honble Supreme Court of India had disposed off the Special Leave Petition on 17/04/2017, with an observation to file an application before the Honble Bombay High Court. The Company has filed petition before the Honble Bombay High Court in June 2017. Besides this, the Company has also filed its objections against the attachment notification before the Designated Special MPID Court, Mumbai the matter is subjudice. n n2.tWith respect to point no.2 of qualified opinion of Auditors Report, it is hereby clarified that it is hereby clarified that the Company along with Group Company and promoters challenged the show cause notice issued by the adjudicating authority New Delhi, before the Honble High Court of Delhi and the Honble High Court has set aside the said show cause notice. The Director of Enforcement has attached assets of the company, group company NKPL and the promoters of the company by issuing a fresh show cause notice dated 30/08/2018 and the company has filed an appeal before PMLA Appellate Tribunal, Delhi. Still the matter is sub-judice. n n3.tWith regard to the supplementary charge sheet filed the Company has complied with the summons dated 7th June, 2022 to remain present before the MPID Court on 20th June 2022 that was adjourned to 28th July 2022, 25th August, 2022,10th November 2022, 23rd March 2023 and now the matter is further adjourned to 25th May,2023. Therefore, the matter is sub-judice. n n4.tThe National Spot Exchange Limited (NSEL) has initiated recovery proceedings against the Group Company N K Proteins Private Limited (Formerly known as N K Proteins Limited) who was a trading and clearing member at NSEL. As regards the said recovery proceedings initiated by NSEL and has also made Tirupati Retail (India) Private Limited, subsidiary Company a party to the said proceedings, the matter is sub-judice and still pending before the respective Authorities. n n
Textual Information(10) We have qualified our report with respect to various transactions entered into by the Company on NSEL Platform and the matter is presently pending before various courts/statutory authorities and accordingly it is subjudice and not determinable. The quantification of amount can be determined only upon the receipt of judgment from the respective authorities and till that time neither the Company nor we as auditors, can quantify the impact of the same on the financial results of the Company.
Textual Information(11) 3.tRegarding notice issued by EOW under the Maharashtra Protection of Interest of Depositors (in financial establishments) Act, 1999 (MPID) Act.
Textual Information(12) The Auditors have not quantified the impact of their qualifications on the financial statements of the Company as the matters pertaining to the qualification are pending before various Courts/Statutory authorities and are subjudice at present.
Textual Information(13) Nil
Textual Information(14) 1.tNational spot Exchange Limited (NSEL) has served a notice to N K Proteins Private Limited (Formerly known as N K Proteins Limited) who was a Trading and Clearing Member at NSEL and N K Industries Limited was only a client Company of Trading Member i.e. N K Proteins Limited. As regards, the balances of trade receivables and trade payables arising out of the transactions through NSEL platform, the same cannot be confirmed pursuant to the pendency of litigations and as the matter is still pending before the respective authorities. Further, the Home Department, Government of Maharashtra has issued a notification under the MPID Act, 1999 securing the attachment of Land & Building and Plant & Machinery of the Company. Against this the Company had challenged the notification issued by Home department, Government of Maharashtra, before the Honble High Court of Gujarat. The Honble Gujarat High Court had disposed off the application of the Company vide its order dated 29th March 2017.Against the said order the Company had preferred a Special Leave Petition before the Honble Supreme Court of India. The Honble Supreme Court of India had disposed off the Special Leave Petition on 17/04/2017, with an observation to file an application before the Honble Bombay High Court. The Company has filed petition before the Honble Bombay High Court in June 2017. Besides this, the Company has also filed its objections against the attachment notification before the Designated Special MPID Court, Mumbai the matter is subjudice. n n2.tWith respect to point no.2 of qualified opinion of Auditors Report, it is hereby clarified that it is hereby clarified that the Company along with Group Company and promoters challenged the show cause notice issued by the adjudicating authority New Delhi, before the Honble High Court of Delhi and the Honble High Court has set aside the said show cause notice. The Director of Enforcement has attached assets of the company, group company NKPL and the promoters of the company by issuing a fresh show cause notice dated 30/08/2018 and the company has filed an appeal before PMLA Appellate Tribunal, Delhi. Still the matter is sub-judice. n n3.tWith regard to the supplementary charge sheet filed the Company has complied with the summons dated 7th June, 2022 to remain present before the MPID Court on 20th June 2022 that was adjourned to 28th July 2022, 25th August, 2022,10th November 2022, 23rd March 2023 and now the matter is further adjourned to 25th May,2023. Therefore, the matter is sub-judice. n n4.tThe National Spot Exchange Limited (NSEL) has initiated recovery proceedings against the Group Company N K Proteins Private Limited (Formerly known as N K Proteins Limited) who was a trading and clearing member at NSEL. As regards the said recovery proceedings initiated by NSEL and has also made Tirupati Retail (India) Private Limited, subsidiary Company a party to the said proceedings, the matter is sub-judice and still pending before the respective Authorities. n n
Textual Information(15) We have qualified our report with respect to various transactions entered into by the Company on NSEL Platform and the matter is presently pending before various courts/statutory authorities and accordingly it is subjudice and not determinable. The quantification of amount can be determined only upon the receipt of judgment from the respective authorities and till that time neither the Company nor we as auditors, can quantify the impact of the same on the financial results of the Company.
Textual Information(16) 4.tRegarding transactions of subsidiary Company i.e. Tirupati Retail (India) Private Limited with NSEL.
Textual Information(17) The Auditors have not quantified the impact of their qualifications on the financial statements of the Company as the matters pertaining to the qualification are pending before various Courts/Statutory authorities and are subjudice at present.
Textual Information(18) Nil
Textual Information(19) 1.tNational spot Exchange Limited (NSEL) has served a notice to N K Proteins Private Limited (Formerly known as N K Proteins Limited) who was a Trading and Clearing Member at NSEL and N K Industries Limited was only a client Company of Trading Member i.e. N K Proteins Limited. As regards, the balances of trade receivables and trade payables arising out of the transactions through NSEL platform, the same cannot be confirmed pursuant to the pendency of litigations and as the matter is still pending before the respective authorities. Further, the Home Department, Government of Maharashtra has issued a notification under the MPID Act, 1999 securing the attachment of Land & Building and Plant & Machinery of the Company. Against this the Company had challenged the notification issued by Home department, Government of Maharashtra, before the Honble High Court of Gujarat. The Honble Gujarat High Court had disposed off the application of the Company vide its order dated 29th March 2017.Against the said order the Company had preferred a Special Leave Petition before the Honble Supreme Court of India. The Honble Supreme Court of India had disposed off the Special Leave Petition on 17/04/2017, with an observation to file an application before the Honble Bombay High Court. The Company has filed petition before the Honble Bombay High Court in June 2017. Besides this, the Company has also filed its objections against the attachment notification before the Designated Special MPID Court, Mumbai the matter is subjudice. n n2.tWith respect to point no.2 of qualified opinion of Auditors Report, it is hereby clarified that it is hereby clarified that the Company along with Group Company and promoters challenged the show cause notice issued by the adjudicating authority New Delhi, before the Honble High Court of Delhi and the Honble High Court has set aside the said show cause notice. The Director of Enforcement has attached assets of the company, group company NKPL and the promoters of the company by issuing a fresh show cause notice dated 30/08/2018 and the company has filed an appeal before PMLA Appellate Tribunal, Delhi. Still the matter is sub-judice. n n3.tWith regard to the supplementary charge sheet filed the Company has complied with the summons dated 7th June, 2022 to remain present before the MPID Court on 20th June 2022 that was adjourned to 28th July 2022, 25th August, 2022,10th November 2022, 23rd March 2023 and now the matter is further adjourned to 25th May,2023. Therefore, the matter is sub-judice. n n4.tThe National Spot Exchange Limited (NSEL) has initiated recovery proceedings against the Group Company N K Proteins Private Limited (Formerly known as N K Proteins Limited) who was a trading and clearing member at NSEL. As regards the said recovery proceedings initiated by NSEL and has also made Tirupati Retail (India) Private Limited, subsidiary Company a party to the said proceedings, the matter is sub-judice and still pending before the respective Authorities. n n
Textual Information(20) We have qualified our report with respect to various transactions entered into by the Company on NSEL Platform and the matter is presently pending before various courts/statutory authorities and accordingly it is subjudice and not determinable. The quantification of amount can be determined only upon the receipt of judgment from the respective authorities and till that time neither the Company nor we as auditors, can quantify the impact of the same on the financial results of the Company.


Signatories detail
Name of CEO / Managing director NIMISH KESHAVLAL PATEL
Name of CFO ASHWINBHAI PARSHOTTAMDAS PATELt
Name of audit committee chairman SNEHAL BHARATBHAI PATEL
Name of statutory auditor NILESH R SHAH
Name of other signatory, if any, with designation
Place AHMEDABAD
Date 23-May-2025