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Elder Pharma - Updates on Audited Financial Result for the Quarter and Year ended June 30, 2015

By Religare

Elder Pharmaceuticals Ltd has informed BSE that :

"The Company has been following financial year ending on 30th June.

The Company's current financial year has ended on 30th June, 2015. Accordingly, Clause 41 of Listing Agreement the Company has to submit Quarterly and Yearly Audited Financial results within 60days from the end of quarter i.e. on or before 29th August, 2015.

However, Company is presently facing severe financial crunch. In view thereof many of our senior employees including junior and subordinate staff have resigned from the Company. This has lead to severe shortage of employees to handle the work of accounts and audit for the same and therefore audit has not completed within time.

In this regard, for the reasons mentioned above; the Company is unable to hold the Board Meeting on or before 29th August, 2015.

Further, the Company is in process to complete the audit as early as possible and will submit the audited financial results in due course of time."

Story first published: Monday, September 7, 2015, 23:00 [IST]
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