1. There are pending litigations against the Company, Promoters and its Subsidiaries. Any adverse decision in such proceedings may render it / them liable to liabilities / penalties and may adversely affect its business, results of operations and financial condition.
2. In the past, legal proceedings have been initiated against it by the company suppliers and there is no assurance that similar actions and proceedings are not initiated in future Any such legal proceedings against the Company would lead to an adverse impact on the results of operations, cash flows and financial condition.
3. Its Statutory Auditor has included emphasis of matter in the company Restated Consolidated Financial Information and there is no assurance that such emphasis of matters or qualifications are not included in its financial statements for future periods, which, if included, may have an adverse impact on its results of operations.
4. Its contingent liabilities could materially and adversely affect its business, results of operations and financial condition.
5. There are certain criminal proceedings pending against Kamal Mehta, one of its Promoter Group members, which if decided against him may lead to a loss of reputation for the Company.
6. There have been instances of delay in filing of GST, ESIC and PF returns of the Company. Its may be subject to regulatory actions and penalties for any such delays and its business, financial condition and reputation may be adversely affected.
7. The company operations are subject to risks of mishaps or accidents that could cause damage or loss to life and property. In the past there have been an instance of fatal accident in one of its project locations. Any such fatal accident or incident causing damage or loss to life and property in future could negatively affect its reputation, thereby making it more difficult for it to conduct the company business operations effectively.
8. The company has, and may continue to have, negative cash flows from operating activities. Negative cash flows will adversely impact its ability to service its debt obligations and/or avail fresh indebtedness.
9. Its name and logo `RAYS POWER INFRA' are not registered as a trademark. Maintaining the reputation of its corporate name, logo and the goodwill associated with these trademarks is material to its success. If the company is unable to protect the company's intellectual property rights, its business, financial condition and results of operations may be adversely affected.
10. The company has incurred indebtedness of
Rs. 1,871.41 million as of October 31, 2023 and its may avail debt facilities in the future to run the company's business. Conditions and restrictions imposed on it by the agreements governing its indebtedness and the company inability to meet its obligations, including financial and other covenants under its debt financing arrangements could adversely affect its business, results of operations and cash flows.