Due to high NPAs and slow recovery, the company cannot contemplate on starting any new business
COMPANYS PERFORMANCE
The Recovery process is very slow due to lengthy legal procedures. The Management also makes efforts to inter into One Time Settlement with the debtors.
INTERNAL CONTROL SYSTEM
Internal Audit of the operations of the Company has been carried out by an independent internal auditor. The Company also has appropriate and adequate internal control systems.
INCOME TAX MATTERS
The outstanding Income Tax liability of the company almost exceeds Rs.22 Crores.
The recovery procedure initiated by Federal Bank Limited and Central Bank of India still continues in Debt Recovery Tribunal, Mumbai for recovery of their outstanding dues.
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
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