The Official Gazette dated March 9, 2024, announced the removal of IDPADA-G from the Register of Companies, alongside 326 other entities. In response, IDPADA-G emphasises its consistent commitment to legal compliance throughout its operational history. Accordingly, in the last quarter of 2023, the company submitted all necessary documentation as mandated by law, with the exception of the audited financial statement for 2022, which is currently in preparation by the designated auditors.
Upon submission, IDPADA-G requested an extension for filing the 2022 financial report, pending finalization by the auditor. Despite understanding that such actions align with the provisions of the Company Act, which outline the removal of defaulting companies from the Register, the company expresses disappointment over the deregistration process proceeding without acknowledgment of their extension request.
Legal advice has been sought, highlighting provisions within the law for restoration. Consequently, IDPADA-G urges its auditing firm to expedite the completion of the audit for the 2022 financial year. This effort aims to facilitate the swift filing of the 2022 report and the subsequent submission of an application for restoration.
