Deep Health AI India Limited has remitted an aggregate advance payment of ₹2.85 crore towards the proposed acquisition of land in Pune. The company entered into a Memorandum of Understanding (MoU) with M/s. Elegant Floriculture & Agrotech (India) Limited on March 06, 2026, for the purchase of a plot measuring 49,100 sq. mtr situated at Gat No. 358, Village Mouje Kashal, Taluka – Maval, District Pune. The advance was paid in 10 tranches, with the last tranche disbursed on June 06, 2026.

The proposed acquisition aims to establish a naturopathy centre and a holistic rejuvenation centre. The project will include the cultivation of medicinal plant species, with a strategic focus on organic and herb-based wellness and agro-tourism to promote preventive healthcare.

The company disclosed that the intimation regarding this transaction was inadvertently delayed due to an oversight. Upon noticing the omission, the management took immediate steps to make the necessary disclosure to the exchange.

Transaction Details

The disclosure was submitted by Narayan Singh Rathore, Managing Director of Deep Health AI India Limited.

Deep Health AI India Ltd submitted a revised audit report for the financial year ended March 31, 2026, to the BSE. The revision incorporates the names of entities covered under the Consolidated Financial Statements, which were inadvertently omitted in the previous filing. The company clarified that there is no change in the audited standalone and consolidated financial results as a result of this update.

The Board of Directors had approved the audited standalone and consolidated financial results at its meeting held on May 29, 2026. The subsequent observation regarding the omission of entity names in the Auditor's Report prompted the filing of the revised document. The company stated that the omission was purely inadvertent and does not impact the financial results or the audit opinion.

The independent auditor, VRSK & Co. LLP, highlighted two key audit matters in the report. The first concerned accounting implications arising from a proposed acquisition of Oasis Ceramics Pvt. Ltd. under the Insolvency and Bankruptcy Code, 2016. The company recognised an exceptional loss related to the amount paid and a bank guarantee of ₹3.21 crore that was invoked due to delays in payment timelines.

The second key audit matter addressed the utilization of proceeds from a Rights Issue. The company raised ₹39.97 crore during the year but utilised only ₹2.5 crore towards the objects stated in the Letter of Offer. The balance amount of ₹37.47 crore was utilised for other purposes, primarily investment in securities, a deviation that was ratified by shareholders on January 22, 2026.

Utilization of Rights Issue Proceeds

The auditor affirmed that the internal financial controls over financial reporting were adequate and operating effectively as of March 31, 2026. The revised report was signed by Suresh G. Kothari, Partner at VRSK & Co. LLP, on May 29, 2026.