Vikas Lifecare Limited reported its audited financial results for the year ended March 31, 2026, on June 24, 2026, revealing a qualified opinion from its statutory auditor. KSMC & Associates highlighted significant concerns, including delays in the deposit of statutory dues and a lack of sufficient audit evidence regarding the business rationale for certain investments and inter-corporate deposits made during the year. The auditor noted that while substantial statutory dues remained outstanding, the company continued its business and investment activities, making it difficult to determine the impact on the financial results.

The audit report further pointed to material related party transactions involving inter-corporate deposits, acquisition of investments, and other dealings with promoter group entities, subsidiaries, and associates. These transactions, which are subject to compliance with Regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Section 188 of the Companies Act, 2013, had not obtained the requisite shareholder approvals as of the date of the results. The company stated it is in the process of obtaining these approvals.

Key Financial Disclosures

The financial results included several material disclosures that impacted the company's reported position. The company entered into a settlement agreement dated May 30, 2026, with Hallow Securities Private Limited regarding debenture transactions aggregating ₹52.00 crore. While the principal amount was agreed to be settled, the balance outstanding remained unconfirmed at the reporting date. Additionally, the company recognized a loss of ₹7.06 crore on the disposal of its entire shareholding in Shashi Beriwal and Co Private Limited and a loss of ₹2.56 crore on the sale of immovable property at Arihant Nagar, Delhi.

Regulatory and Legal Proceedings

The company faces significant regulatory and legal challenges. The Enforcement Directorate issued a provisional attachment order on June 5, 2026, for immovable properties with an approximate purchase value of ₹1,333.84 lakhs in connection with an ongoing investigation. The company is contesting this attachment. Furthermore, the Securities and Exchange Board of India (SEBI) is conducting an investigation under Section 11C of the SEBI Act, 1992, the outcome of which remains uncertain. The company also received income tax demands aggregating ₹26.44 crore, which it has contested.

Compliance and Investment Details

The company's investment in Ebix International Holdings Limited, acquired via a settlement with Eraaya Lifespaces Limited, accounted for a contribution of ₹2,977.27 million. The auditor noted that certain compliances under the Foreign Exchange Management Act, 1999, relating to this overseas direct investment are yet to be completed. Additionally, the company recognized an impairment loss on an advance of ₹5.00 crore given towards a proposed acquisition of Abhhyam Services Private Limited due to a dispute regarding the transfer of shares.

The Audit Committee reviewed the results, and the Board of Directors approved them at a meeting held on June 24, 2026.

Vikas Lifecare Limited has confirmed that its promoters and promoter group did not encumber any shares during the financial year ended March 31, 2026. This disclosure ensures that the shareholding structure remains free of liens or charges, providing clarity to investors regarding the ownership status during FY26. The declaration was submitted to the National Stock Exchange of India Limited and BSE Limited on April 6, 2026.

Regulatory Compliance

The filing was made in accordance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation mandates that promoters disclose any encumbrance created on their shares during a financial year. The confirmation was signed by Vikas Garg on behalf of all promoters, the promoter group, and persons acting in concert.

Disclosure Details

The declaration explicitly states that no encumbrance was made, directly or indirectly, by the promoters during the specified period. The communication was addressed to the Listing Compliance Departments of both exchanges and copied to the Audit Committee and the Company Secretary of Vikas Lifecare Limited.