Cian Healthcare has released its audited consolidated financial statements for the fiscal year ending March 31, 2025, but the report comes with significant caveats. The company's auditors, M/s. S S R C A & Co., Chartered Accountants, have issued a disclaimer of opinion, citing insufficient evidence due to the ongoing Corporate Insolvency Resolution Process (CIRP) affecting both Cian Healthcare and its wholly-owned subsidiary, Dr. Smiths Biotech Private Limited.

Key Highlights

• Auditors unable to form an opinion on consolidated financial statements
• Extensive limitations cited, including incomplete records and unverified inventory valuations
• CIRP process ongoing for both Cian Healthcare and its subsidiary
• Delay in filing consolidated financial statements due to subsidiary's CIRP status

Auditor's Disclaimer

The auditors highlighted several critical issues that prevented them from forming an audit opinion:

1. Incomplete records
2. Unverified inventory valuations
3. Missing documentation for assets and liabilities
4. Inability to assess the company's status as a going concern

These limitations stem from the CIRP process, which has significantly impacted the company's ability to maintain and provide comprehensive financial records.

Corporate Insolvency Resolution Process (CIRP) Impact

The CIRP has had far-reaching consequences for Cian Healthcare:

• The company's wholly-owned subsidiary, Dr. Smiths Biotech Private Limited, was admitted to CIRP on April 28, 2025, by order of the National Company Law Tribunal (NCLT).
• This development has prevented the retrieval of financial information for the subsidiary for the half-year and full year ended March 31, 2025.
• The situation has led to delays in finalizing and filing the audited consolidated financial statements.

Management's Response

Despite these challenges, Cian Healthcare's management, represented by Resolution Professional Roshen Chordiya, has emphasized their commitment to transparency and adherence to regulatory requirements. The company has pledged to:

• Keep all stakeholders informed of material developments in a timely manner
• Ensure compliance with prescribed regulatory timelines moving forward

Investor Considerations

The disclaimer of opinion and the ongoing CIRP process raise significant concerns about Cian Healthcare's financial health and operational stability. Investors and stakeholders should exercise caution and carefully consider these factors when evaluating their positions or making investment decisions related to the company.

As the CIRP process continues, further updates and potential restructuring efforts will be critical in determining the company's future trajectory and financial viability.

Note: The financial statements and auditor's report are available on the company's website at www.cian.co.in for detailed review by interested parties.

Cian Healthcare Limited (CHCL) has reached a significant milestone in its corporate insolvency resolution process (CIRP). The National Company Law Tribunal (NCLT) Mumbai Bench has reserved the resolution plan application submitted by Mr. Pradeep Kumar Jain for orders, marking a crucial step towards the company's potential restructuring.

Key Developments

Background

The resolution plan, previously approved by the Committee of Creditors, was submitted to the NCLT on October 7, 2025. This move follows the standard procedure under the Insolvency and Bankruptcy Code, 2016, aimed at resolving the company's financial distress.

Next Steps

Cian Healthcare has committed to providing a detailed disclosure upon receipt of the written order from NCLT. This disclosure will include critical information such as:

1. Treatment of existing securities
2. Changes to the shareholding pattern
3. Other material disclosures under the approved resolution plan

Implications

The reservation of the order by NCLT is a pivotal moment for Cian Healthcare Limited. It signifies that the tribunal has concluded its hearing and is now in the process of finalizing its decision. This development could potentially lead to significant changes in the company's structure and operations, depending on the contents of the approved resolution plan.

Regulatory Compliance

In line with the Securities and Exchange Board of India (SEBI) regulations, Cian Healthcare has promptly informed the stock exchange about this development. The company's actions align with the Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, and the BSE Guidance Note for companies undergoing CIRP.

Stakeholders and investors of Cian Healthcare Limited should stay tuned for further updates, as the final NCLT order could have substantial implications for the company's future.