Priya

Priya Limited's Board approved unaudited financial results for the quarter and nine months ended September 30, 2025, showing a net loss of Rs 94.56 lakhs with negative net worth of Rs 5,084.66 lakhs. The company's accounts have been declared Non-Performing Assets by Indian Bank, Bank of Maharashtra, and Union Bank, with all three banks declaring the company, promoters, directors and corporate guarantors as willful defaulters. The company has ceased business operations due to blocked bank accounts, closed all branches except Mumbai, and laid off employees. Properties in Mumbai, Kolkata, and Chennai were auctioned by banks following non-payment of dues. The auditors issued an adverse opinion citing multiple concerns including Rs 3,269.64 lakhs provision for doubtful debts related to export sales, vacancy in Chief Financial Officer position since November 2022, and related party transactions not conducted at arm's length. Two related parties, VXL Instruments Limited and VXL Software Solutions Pvt. Ltd., have initiated Corporate Insolvency Resolution Process. The company deposited Rs 175 lakhs with Indian Bank as part of a one-time settlement proposal against Rs 22.81 crores. The Board also approved changing the registered office address within Mumbai.