C & C Constructions reported a standalone loss of Rs 2.17 crore for the quarter ended September 30, 2026. The company also announced a boardroom shuffle, with Puneet Sharma appointed as Whole-Time Director, replacing Chandan Singh. Auditors have issued a qualified report, noting limited access to pre-acquisition financial records following the company's transfer under the Insolvency and Bankruptcy Code (IBC).
C & C Constructions Posts Q2 Loss Amid IBC Transition
Standalone Net Loss: Rs 2.17 Crore | Total Income: Rs 0.25 Crore
Reader Takeaway: New management faces limited historical financial visibility while navigating NCLT-led legal and tax legacy disputes.
What just happened
C & C Constructions has released its unaudited financial results for the quarter ending September 30, 2026, reporting a standalone loss of Rs 2.17 crore. Total income for the quarter stood at Rs 0.25 crore. The company also underwent a key leadership change, appointing Puneet Sharma as an Additional and Whole-Time Director effective November 4, 2026, following the resignation of Chandan Singh.
Why this matters
The financial results are heavily caveated by the company's statutory auditors. Having been acquired under the IBC process by R K Constructions, the current management team is operating with incomplete records from the pre-acquisition era. Auditors have explicitly highlighted that these financial statements exclude potential transactions handled by the liquidator and remain subject to final NCLT-ordered adjustments.
Risks to watch
The company is currently addressing legacy legal and regulatory challenges, including:
- Notices under Section 276(B) of the Income Tax Act regarding delayed TDS deposits from 2012-2017.
- A pending liability case involving Rs 0.96 crore in damages under the Employees' Provident Funds Act for the 2013-2017 period.
What to track next
Investors should closely monitor future NCLT proceedings, which may alter the company's balance sheet through various relief and concession applications. Additionally, the ability of new management to reconcile historical gaps and resolve legacy tax and provident fund litigations will be critical for long-term operational stability.