Due to the ongoing CIRP, the Board of Directors of the company has been suspended, and the management of the company is now under the control of the IRP. As per the CIRP process, the approval of 66% of the CoC is required for the appointment of statutory auditors for a term of five years. However, due to the time required for the necessary approvals, there was a procedural delay in the voting process by the CoC, the appointment of the statutory auditors could not be completed within the prescribed timelines.Further, the voting process for appointment of the statutory auditors is still in process and hence the auditors will not have sufficient time to prepare and finalize the financial results for the Half-year ending 30th September 2024. As a result of the same, the company is unable to submit the half-yearly financial results within the specified due date as stipulated under Regulation 33 of SEBI (LODR) Regulations, 2015.