C & C Constructions Limited Announces Unaudited Financial Results for Quarter Ended June 30, 2026

C & C Constructions Limited Announces Unaudited Financial Results for Quarter Ended June 30, 2026​

C and C Constructions Limited announced the approval of its unaudited financial results—both standalone and consolidated—for the quarter ended June 30, 2026. The Board of Directors reviewed and approved these results on August 7, 2026. Additionally, the company amended its Code for Prevention of Insider Trading in Securities, effective from August 7, 2026.

The financial statements reflect the operations of the holding company and its subsidiaries, despite the company being under ongoing liquidation proceedings pursuant to the Insolvency and Bankruptcy Code (IBC).

Financial Performance Summary​

The unaudited financial results for the quarter ended June 30, 2026, show the following key figures for both standalone and consolidated operations:


\*Note: The combined expense figures encompass Cost of Material Consumed, Employee Benefits Expenses, Finance Costs, Depreciation and Amortization Expenses, and Other Expenses as detailed in the financial statements.
\\Note: Consolidated Total Expenses include the expenses of the holding company and its subsidiaries.

Corporate Status and Operational Context​

The results are presented against the backdrop of the ongoing corporate insolvency process. The company was admitted for Corporate Insolvency and Bankruptcy Process (CIRP) on February 14, 2019, following a petition filed by ICICI Bank Limited. Subsequently, the Committee of Creditors resolved to liquidate the Company, with the liquidation being ordered by the National Company Law Tribunal (NCLT) on October 7, 2022.

The company's asset disposition includes two sales:

• Investments in subsidiaries, associates, and joint ventures were sold for a sum of Rs. 31.00 Crores on August 6, 2024.
• The company was sold as a going concern for a sum of Rs. 104.00 Crores on December 27, 2024, to M/s R K Constructions (RKC).

As per the audit review, both the standalone and consolidated financial statements were prepared in continuation of limited information available to the new management, which acquired the company as a going concern on December 27, 2024. The formal closure of the liquidation process remains pending with the NCLT.

Auditor’s Review and Key Considerations​

The audit review conducted by M/s A S G & Associates highlighted several material points concerning the company's position:

• Information Reliance: The financial statements rely solely on the statements and disclosures provided by the Liquidator, as the management has obtained limited information regarding operations and finances prior to the acquisition.
• Uncertainties: Both reports emphasize inherent uncertainties arising from the continuation of the liquidation process under the IBC and the lack of complete documentation from the Liquidator. Any subsequent judicial relief or receipt of further information could necessitate revisions to the financial estimates and disclosures.
• Statutory Safeguard: The management noted that, in accordance with Section 53 of the IBC, no additional liabilities have been recognized for obligations incurred before the issuance of the Sale Certificate by the Liquidator.

The Statutory Auditors included an Emphasis of Matter regarding two legal matters: the company received notices under Section 276(B) of the Income Tax Act, 1961, for prosecution proceedings concerning the late deposit of tax deducted at source for the financial years 2012-13, 2013-14, 2014-15, and 2016-17. Additionally, the company received a summons for damages under Section 14B of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, aggregating to approximately Rs. 0.96 Crores, which is currently sub judice.