Simbhaoli Sugars FY25 Loss Widens; Auditors Issue Adverse Opinion Amid Insolvency

Simbhaoli Sugars Limited has released its audited consolidated financial results for the fiscal year ending March 31, 2025. The company reported a Net Loss of ₹1,975.07 Lakhs (₹19.75 Cr). The company’s Net Worth is deeply negative at ₹-9,814.39 Lakhs (₹-98.14 Cr), with Total Liabilities of ₹2,13,065.47 Lakhs (₹2,130.65 Cr) significantly outweighing Total Assets of ₹2,03,251.08…

Tongaat: A ticking time bomb set to go off in April

Tongaat head office stripped of expensive paintings and antiques ahead of a possible visit by liquidators. Photo supplied Tongaat Hulett has two critical deadlines in April: The liquidation hearing and the opening of its mills for the harvest season. But the company’s bank accounts are frozen after its business rescue practitioners filed for liquidation. The…

Amandeep Singh’s Top Produce & Ajaypal Singh’s Gurukirpa/Saran face million dollar kiwifruit tax debts

Two separate cases involving Bay of Plenty kiwifruit labour contractors have highlighted ongoing compliance issues in the industry, with Top Produce now owing $1.5 million to the Inland Revenue Department (IRD), and the earlier collapse of Gurukirpa Contracting Ltd and Saran Contracting Ltd revealing alleged unpaid taxes of $57 million. The cases, reported by the Herald, highlight…

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