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Auditors raise doubts over NDTV's future
NDTV's auditors are of the view that there is a significant doubt on the ability of the company to continue as a going concern.
New Delhi: NDTV's auditors are of the view that there is a significant doubt on the ability of the company to continue as a going concern.
The report was submitted to the board of directors of NDTV on November 12 by BSR & Associates, Chartered Accountants signed by its partner, Rakesh Dewan.
The auditors' report that the parent company which runs the television business, current liabilities exceed its current assets by Rs 88.92 crore.
These conditions, along with other conditions cast a significant doubt on the ability of the company to continue as a going concern, BSR said.
"We draw attention to Note I of the statement' wherein it is explained that company, which runs television business, has incurred a net loss of RS 10.16 crores (Rs 1,016 lakhs) and Rs 1.17 crores (Rs. 117 lakhs) during the quarter and six months period ended September 30, 2019: and, as of that date, the company's current liabilities-exceed its current assets' by Rs 88.92 crores (Rs 8,892 lakhs)," the auditors said.
