Tricom Fruit Products Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2024

1. The above Financial Results have been noted by and approved by CoC Committee and its approved by Resolution Professional in its meeting
2. The Company’s operations relates to single segment i.e. Agro/Fruit processing and have been discontinued.
3. The figures of previous year/periods have been regrouped/reclassified, wherever necessary.
4. Pursuant to receipt of notice under The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act,2002, interest on loans from CDR lenders has not been provided from April,2017 onwards. Interest on loans from unsecured lenders/creditors has also not been provided from April,2017 onwards due to no operations in the company.
5.Property, plant and equipment of the Company has been sold by Edelweiss Asset Reconstruction Company . There are no assets available in the Company .
6. Going concern
The Company had initiated Corporate Insolvency Resolution process (CIRP) under Section 10 of Insolvency and Bankruptcy Code, 2016 (IBC) with National Company Law Tribunal. The Hearing with NCLT was completed and the Honorable NCLT vide its order C.P.(IB)-1157(MB)/2022 dated 13.08.2024 appointed Mr. Prakash Naringrekar as Interim Resolution Professional.Later on, in the meeting of Committee of Creditors (COC) held on 9th October, 2024. Mr. Prakash Naringrekar was appointed as Resolution Professional. Since Corporate Insolvency Resolution Process (CIRP) is currently in progress, as per the Code, it is required that the Company be managed as a going concern during CIRP. As such the financial statements continued to be prepared on a going concern basis.