Mumbai: CA Disappears Leaving Company Unable To Release Financial Results; Won't Answer Calls

June 08,2023

What's the strangest excuse you've heard or given for not finishing a task on time or delivering an order before the deadline?

Among recent examples, Byju's delayed its financial results for FY21, only to reveal that its losses had widened 20 times.

Now Mumbai-based furniture firm Milestone has claimed that it can't publish quarterly results, since its chartered accountant has gone missing.

Vanishing act

In a regulatory filing with the Bombay Stock Exchange, Milestone Furniture added that the CA Bhupendra Gandhi has disappeared and isn't answering their calls.

Since he is in charge of all the financial information, the company is unable to provide data about its quarterly earnings, and is working on a resolution.

What's brewing?

Apart from the vanishing act pulled by the CA, the filing also mentioned that the Chief Executive Officer of the firm has resigned.

Before this, the company had no revenue at all in the first half of FY22, and had reported a Rs 2.6 crore loss.

Founded in 2009, the company made its stock market debut back in 2018, and its stock price went up by 52 per cent this year alone despite the dismal performance.