Chiraharit Ltd IPO

Our Company, Directors, Promoters and Group Companies are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on our business, results of operations and financial condition.

EPC projects are typically awarded to us on satisfaction of prescribed pre-qualification criteria and following a competitive bidding process. Our business and our financial condition may be adversely affected if new projects are not awarded to us or if contracts awarded to us are prematurely terminated.

Dependency on Indian Domestic Market for Revenue.

We are dependent on and derive a substantial portion of our revenue from a limited number of customers. Cancellation or orders by customers or delay or reduction in their orders could have a material adverse effect on our business, results of operations and financial condition.

The Company is dependent on a few suppliers for purchases of product/service. The loss of any of these large suppliers may affect our business operations.

In the Past, there has been an instance of non-compliance for failure to open a separate bank account for receipt of share application money in compliance with Section 42 of the Companies Act, 2013. Due to such lapse, the Company is held liable to penal actions by the regulatory authorities under the Companies.

There are certain instances of delays in the past with ROC/Statutory Authorities.

There have been some instances of delayed filing of returns and depositing of statutory dues with regulatory authorities.

We may face several risks associated with the object of the issue of setting up of proposed Manufacturing Unit, which could hamper our growth prospects, cash flows and business and financial condition.

We cannot assure you that the proposed Manufacturing unit will become operational as scheduled, or at all, or operate as efficiently as planned. If we are unable to commission our new facility in a timely manner or without cost overruns, it may adversely affect our business, results of operations and financial condition.