Board and Management Changes

Resignations (Effective November 14, 2026):

  • Entire existing Board of Directors and outgoing Key Managerial Personnel resigned with immediate effect
  • Mr. Gopal Bhatter resigned as Whole-Time Director & CFO
  • Ms. Sonia Bhatter resigned as Non-Executive Non-Independent Director
  • Ms. Monika Bhatter resigned as Non-Executive Non-Independent Director
  • Mr. Arvind Ganpat Desai resigned as Non-Executive Independent Director
  • Mr. Radheshyam Pandey resigned as Non-Executive Independent Director
  • Ms. Neelam Saboo resigned as Company Secretary & Compliance Officer

All resignations cited "recent change in management control and successful transition of the Company's ownership" as the reason.

New Appointments (Effective November 14, 2026):

  • Mr. Shashank Srivastava (DIN: 08257017) appointed as Whole-Time Director & CFO for 5 years, subject to shareholder approval. He has extensive experience in travel, tourism, and fintech sectors and holds directorships in Club 7 Holidays Ltd, Calculus Travels Online Pvt Ltd, and Payfx Fintech Solutions Pvt Ltd.
  • Mr. Subhash Gundappa Kutte (DIN: 00233322) appointed as Non-Executive Independent Director for 5 years. He has expertise in banking, finance, and corporate governance with directorships in Unity Small Finance Bank Limited, Synergy Green Industries Limited, The Ugar Sugar Works Limited, and various Centrum group entities.
  • Mr. Rahul Singh (DIN: 07477748) appointed as Non-Executive Independent Director for 5 years. He is a Fellow Member of the Institute of Company Secretaries of India (FCS No. 6469) with existing directorships in Indokem Limited and Centrum Retail Services Limited.
  • Ms. Ankita Khandelwal (DIN: 12028007) appointed as Non-Executive Non-Independent Director for 5 years. She is an Associate Member of the Institute of Company Secretaries of India (ACS No. 55818) specializing in corporate law and compliance management.
  • Ms. Deepika Narayan Koli (ACS: A69535) appointed as Company Secretary and Compliance Officer. She holds requisite qualifications under Section 203 of the Companies Act, 2013.

All incoming directors have submitted declarations confirming they are not debarred from holding director office per SEBI orders.

Financial Results (Quarter Ended September 30, 2026)

Financial Performance (₹ in lakh):

  • Revenue from operations: ₹0.00 (no revenue generated)
  • Other Income: ₹0.00 (compared to ₹3.94 in previous quarter)
  • Total Income: ₹0.00
  • Employee benefits expense: ₹0.75
  • Other expenses: ₹1.39
  • Total Expenses: ₹2.14
  • Loss before tax: ₹(2.14)
  • Tax Expenses: ₹0.00
  • Net Loss for the period: ₹(2.14)
  • Earnings Per Share (Basic & Diluted): ₹(0.06)

Half-Year Performance (April-September 2026):

  • Net Loss: ₹(3.58)
  • EPS: ₹(0.11)

Comparative Figures:

  • Q2 FY26 Net Loss: ₹(3.34)
  • H1 FY26 Net Loss: ₹(6.43)
  • FY26 Full Year Net Loss: ₹(11.16)

Financial Position (As of September 30, 2026)

Assets (₹ in lakh):

  • Total Assets: ₹283.46
  • Property, Plant & Equipment: ₹0.06
  • Other Non-Current Assets: ₹261.71
  • Cash and cash equivalents: ₹10.78 (significant decline from ₹53.76 as of March 2026)
  • Other Financial Assets: ₹8.83
  • Other Current Assets: ₹2.09

Equity and Liabilities (₹ in lakh):

  • Equity Share Capital: ₹329.18 (face value ₹10 each)
  • Other Equity: ₹(45.72) (accumulated losses)
  • Total Equity: ₹283.46
  • Current liabilities: ₹0.00 (minimal from ₹0.17 as of March 2026)

Cash Flow (Half-Year Ended September 30, 2026)

  • Net cash from operating activities: ₹(8.34)
  • Net cash used in investing activities: ₹(34.64)
  • Loans & Advances: ₹(38.58)
  • Income From Investing Activities: ₹3.94
  • Net decrease in cash: ₹(42.99)
  • Opening cash balance: ₹53.76
  • Closing cash balance: ₹10.78

Board Meeting Details

  • Meeting held on November 14, 2026
  • Commenced at 06:15 p.m.
  • Concluded at 10:50 p.m.

Auditor's Review

  • Joshi Gadgil & Co (Firm's Registration No. 138022W) reviewed the financial results
  • Akshay M Page (Partner, Membership No. 143977) signed the review report
  • Review conducted in accordance with SRE 2410 issued by ICAI
  • No material misstatements identified in the financial results