Raja Bahadur International has formally clarified that it is not undergoing any insolvency proceedings. The company has categorically denied rumors circulating on the 'scanx.trade' portal regarding NCLT filings and refuted the authenticity of reported Q1 FY27 financial results. Management has initiated legal action against the portal's operator to secure a retraction and stop the spread of misinformation.
Raja Bahadur International Issues Official Denial of Insolvency Reports
NCLT insolvency proceedings: Denied. Q1 FY27 financial data on third-party portal: Refuted.
Reader Takeaway: The company confirms it is a going concern and warns investors against relying on unverified third-party data.
What just happened
Raja Bahadur International Ltd has issued a formal clarification to the BSE following the circulation of inaccurate reports on the website 'scanx.trade'. The company explicitly denied that it has filed for insolvency, pre-packaged resolution, or any form of capital restructuring under the National Company Law Tribunal (NCLT).
Why this matters
Misinformation regarding insolvency can severely impact investor confidence and stock liquidity. By issuing this clarification, the company aims to protect its reputation and curb market rumors that could lead to volatility based on false financial data. The company confirmed that the Q1 FY27 financial results displayed on the third-party portal are entirely fabricated and do not reflect its official books.
Legal Action Initiated
Management has taken direct legal action against the portal's operator, Raise Securities Private Limited. The company has served a formal legal notice demanding:
- The immediate removal of all false data from the website.
- A public apology and unconditional retraction.
- A formal corrigendum to entities that may have been misled by the content.
- A full disclosure regarding the sources and verification methods used by the portal.
What to track next
Investors should monitor the company's official disclosures on the BSE website for accurate financial updates. The company has emphasized that its operations remain stable as a going concern. Any further legal updates regarding the dispute with the portal operator will likely be shared through official exchange filings.