the sec knows the difficulty in having the audited financials and so gives 45 days grace period above the 3 months regular time frame. the company has released news late last year that they are going for cse listing this year. with that in mind only a slacky company will wait till the last day to find an auditor for auditing.
it is evident to me that you are using whatever the knowledge you have about the auditors and sec filings to defend the FNHI late filing.
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