KSS Limited (formerly K Sera Sera Limited) reported a consolidated loss of ₹11.14 lakh for the quarter ended June 30, 2026, marking a significant narrowing from the ₹42.09 lakh loss recorded in the corresponding period of FY25. The company’s revenue from operations declined to ₹38.02 lakh in Q1FY27, down from ₹50.03 lakh in Q1FY25.

The financial results were approved by the Monitoring Committee on August 14, 2026. A pivotal development occurred on the last day of the quarter when the National Company Law Appellate Tribunal (NCLAT) approved the resolution plan submitted by Micro Capitals Private Limited. This approval sets the stage for the extinguishment of claims not part of the plan, including significant tax and customs demands.

Financial Performance

The company’s standalone results showed a loss of ₹15.61 lakh for the quarter, compared to ₹17.33 lakh in Q1FY25. Standalone revenue was nil for the current quarter, as it was in the prior year periods disclosed.

Depreciation and amortisation expenses remained high at ₹40.15 lakh for the consolidated entity, constituting the largest single expense item despite a decline from ₹44.09 lakh in the preceding quarter. Other administrative expenses dropped sharply to ₹5.94 lakh from ₹40.55 lakh in Q4FY26.

Resolution Plan Approval

The NCLAT allowed appeals filed by the resolution applicant and the Committee of Creditors, setting aside the earlier rejection by the National Company Law Tribunal (NCLT). The consequential order from the NCLT Mumbai Bench was passed on August 5, 2026.

Key terms of the approved resolution plan include:

• Total financial outlay of ₹301.00 lakh.
• Payment of ₹265.00 lakh to financial creditors against an admitted debt of ₹9,559.82 lakh.
• Payment of ₹1.00 lakh to operational creditors.
• CIRP costs of ₹35.00 lakh.

What the Numbers Show

The approval of the resolution plan triggers the extinguishment of claims not included in the plan, as per the Supreme Court judgment in Ghanshyam Mishra. This includes disputed income tax demands of ₹2,669.23 lakh, VAT liability of ₹1,035.05 lakh, and customs demands of ₹734.04 lakh. These liabilities are not provided for in the current financial results but will likely result in a material exceptional gain upon implementation of the plan.

Trading in KSS Limited’s securities remains suspended on both BSE and NSE since November 27, 2020.

KSS Limited, formerly known as K Sera Sera Limited and currently undergoing Corporate Insolvency Resolution Process (CIRP), has scheduled its first Implementation and Monitoring Committee (IMC) meeting for August 14, 2026. The meeting is set to begin at 2:00 PM IST and will serve as the initial forum for stakeholders to review the company's adherence to its approved Resolution Plan. This development follows a directive from the National Company Law Tribunal (NCLT), Mumbai Bench, which ordered the formation of the committee to ensure structured oversight of the resolution process.

The IMC was officially constituted on August 11, 2026, in accordance with the NCLT order dated August 5, 2026. Dharmendra Dhelariya, the erstwhile Resolution Professional, facilitated the disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The committee’s primary mandate is to monitor the implementation of the Resolution Plan within prescribed timelines, ensuring that all contractual and regulatory obligations are met systematically.

Key Agenda Items

The inaugural meeting will focus on two critical areas: reviewing actions taken to date and outlining future steps. Specifically, the committee will:

• Take note of actions taken towards the implementation of the approved Resolution Plan until the current date.
• Discuss the further course of action and specific steps required to continue implementation in accordance with the plan’s terms.

These discussions are pivotal for maintaining transparency with investors and regulators regarding the company’s recovery trajectory. The IMC’s role is essential in bridging the gap between the legal approval of the resolution plan and its practical execution on the ground.

Regulatory and Corporate Details

KSS Limited is listed on both the Bombay Stock Exchange (Scrip Code: 532081) and the National Stock Exchange of India Ltd (Scrip Code: KSERASERA). The company’s registered office is located at Unit No. 101A, 1st Floor, Plot No. B-17, Morya Landmark II, Andheri (West), Mumbai – 400053. Dharmendra Dhelariya, identified as the Insolvency Professional, continues to play a central role in the CIRP proceedings, with his office located at B-605, Titanium Square, Thaltej Cross Road, Thaltej, Ahmedabad – 380 054.

What the Numbers Show

While this filing does not disclose new financial metrics, the establishment of the IMC marks a procedural milestone in KSS Limited’s insolvency journey. The shift from a general resolution phase to a monitored implementation phase indicates that the company has moved past the initial restructuring decision into active execution. For investors, the regular updates from the IMC will provide critical insights into whether the resolution plan’s financial promises are being realized on schedule. The absence of immediate financial data in this notice underscores the administrative nature of this update, focusing on governance rather than performance metrics.