Manraj Housing Finance net worth turns negative as auditor flags default
The company recorded zero revenue for FY2026, while its auditor issued an adverse opinion citing assets frozen by the Enforcement Directorate.
— 1 earlier story on Manraj Housing Finance Ltd. →What's new
- Manraj Housing Finance posted a net loss of ₹47.97 lakhs for FY2026.
- Auditor Ratan Chandak & Co issued an adverse opinion on the financial statements.
- Over 99% of company assets are advances to related parties currently under ED investigation.
Why this matters
The company has been non-operational for three years and is insolvent. With assets attached under PMLA and massive defaults, the auditor's warning about its future is the only logical conclusion.
What we're watching
- Potential liquidation proceedings from creditors.
- Updates on the Enforcement Directorate investigation.
- Whether the company remains listed given the lack of operations.
The full read
Manraj Housing Finance is a shell in distress. The company reported a net loss of ₹47.97 lakhs for FY2026, a total reversal from the ₹33.64 lakh profit it managed the prior year. Revenue from operations was ₹0. The auditor, Ratan Chandak & Co, issued an adverse opinion, noting that 99% of the company's assets are tied to related-party advances currently under Enforcement Directorate investigation. These assets are attached under PMLA. The company has defaulted on ₹687 lakhs in bank borrowings and carries ₹711 lakhs in uncharged interest. With a negative net worth of ₹74.96 lakhs, the auditor flagged severe doubt about the company's ability to continue as a going concern. It has not been operational for over three years. The numbers confirm a firm that has ceased to operate.
Questions answered
- What is the status of the company's assets?
- Over 99% of the company's assets consist of advances to related parties that are currently under investigation by the Enforcement Directorate. These assets are attached under the PMLA.
- How much debt has the company defaulted on?
- Manraj Housing Finance has defaulted on ₹687 lakhs in bank borrowings. It also carries ₹711 lakhs in uncharged interest.
- Is the company still operational?
- No. The company has not been operational for over three years and reported zero revenue from operations for FY2026.
- What is the auditor's view on the company's future?
- Ratan Chandak & Co issued an adverse opinion and flagged material uncertainty regarding the company's ability to continue as a going concern.
Story so far
All notes on MANRAJH →- 26 May 2026 · 8:40 PM IST Manraj Housing Finance net worth turns negative as auditor flags default
- today Manraj Housing Finance reports zero revenue and a negative net worth.