'CA not answering phone calls': Mumbai-based firm's reason for deferring results

Mumbai-based Milestone Furniture Ltd, which manufactures home and office furniture and also does home and office designing, on Wednesday informed BSE that it's deferring its financial statements as, wait for it, the company’s chartered accountant has disappeared and is not picking up his phone.

In its board meeting held on May 25, 2023 “the Chairman told the board that the existing Chartered Accountant named CA Bhupendra Gandhi disappeared and is not answering the calls, so the financial statements are pending due to unavailability of financial data as well as the absence of persons-in charge of the data”, Milestone Furniture said in the regulatory filing.

The office furniture manufacturing company added that it is trying its best to resolve the issue so that BSE as well as ROC compliance in this regard can be done at earliest.

Milestone Furniture got listed on BSE’s SME platform in 2018.

The board meeting on May 25 had seven items on agenda, including an EGM to be held on June 16 and change of the company’s registered office from Palghar to Mumbai, including the matter of the missing CA.

However, the board meeting lasted mere 11 minutes.

“Board Meeting was commenced at 01:32 PM and concluded at 01:43 PM,” it noted.

On Thursday, shares of the company closed trading 3% lower at Rs 6.97. The stock price has risen over 54% this year till date.