ICSA (India) Limited Approves Q1 Results; Financials Reviewed Amid Liquidation Status Update
ICSA (India) Limited released its standalone unaudited financial results for the first quarter ending June 30, 2026. The Board of Directors considered and approved these results, which were reviewed by independent auditors as part of the company's ongoing operational review following its liquidation history.The key figures from the company's statements are provided across different periods, including Q1 ended June 30, 2026, versus prior quarters and full financial years.
| Particulars | Q1 Ended 30.06.2026 (Unaudited) | Q1 Ended 31.03.2026 (Audited) | Q1 Ended 30.06.2025 (Unaudited) | FY ended 31.03.2026 (Audited) |
|---|---|---|---|---|
| Revenue from operations | - | - | - | - |
| Total Revenue | - | - | - | - |
| Cost of Material Consumed | - | - | - | - |
| Employee benefits expense | - | - | - | - |
| Finance cost | - | - | - | - |
| Administrative Expenses | - | - | - | - |
| Total Expenses | - | - | - | - |
| Profit/(Loss) before tax | - | - | - | - |
| Tax expense (Current and Deferred) | - | - | - | - |
| Profit/(Loss) for the period | - | - | - | - |
| Equity Share Capital (Rs.10/- per share) | 30.90 | 30.90 | 30.90 | 30.90 |
Liquidation History and Asset Realization
The company, which was subject to liquidation ordered by the National Company Law Tribunal (NCLT), Hyderabad Bench, in August 2020, has completed several asset disposals during the process.During the realization of assets, a portion of land measuring 5 acres and 18.94 guntas in Yadagirigutta was sold to M/s Hyderabad Bottling Company Private Limited for Rs. 900.00 lakhs. A Benz car motor vehicle was also sold to Mr. Y.V. Ramanareddy for a consideration of Rs. 3.05 lakhs.
In total, an amount of Rs. 10,23,89,263/- was realized from the sale of the liquidation estate and distributed among eligible stakeholders according to the waterfall mechanism established under the Insolvency and Bankruptcy Code (IBC), 2016. The NCLT formally ordered the closure of the liquidation proceedings on February 7, 2023.
Auditor's Review Highlights
Bhargavi Priya And Associates Chartered Accountants conducted a review of ICSA (India) Limited’s unaudited financial results for the quarter ended June 30, 2026.The audit review focused specifically on the transaction where the company name and goodwill were successfully sold as a "going concern," following an Approval Plan sanctioned by the NCLT, Hyderabad Bench, dated February 7, 2023.
The auditor's report noted that under the terms of the relief granted by the NCLT, all prior non-compliances, breaches, and defaults of ICSA (India) Limited occurring before the Effective Date were waived by relevant government authorities. Furthermore, the Auction Purchaser was granted absolute immunity from any legal proceedings or penalties related to such past defaults.
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