Madhucon Projects Reports Profit, Appoints New Directors Amid Ongoing Challenges
Madhucon Projects Limited reported a profit of ₹14.02 lakhs for Q2, reversing a loss from the previous year. The company made significant board changes, including new director appointments and a resignation. However, auditors raised concerns about investment valuations, loan defaults, and unpaid dues. The company faces legal challenges, including property attachments by the Enforcement Directorate and insolvency proceedings for some subsidiaries.