AGM Details

  • Date: Wednesday, 30 September 2026
  • Time: 11:00 AM IST
  • Mode: Video Conferencing (VC)/Other Audio-Visual Means (OAVM)
  • Cut-off Date: Wednesday, 23 September 2026
  • Remote e-voting Period: Sunday, 27 September 2026 (9:00 AM) to Tuesday, 29 September 2026 (5:00 PM)

Business Items to be Transacted

Ordinary Business

1. Item No. 1: To receive, consider and adopt Audited Balance Sheet as at 31 March 2026 and Profit and Loss Account for year ended 31 March 2026 with Reports of Directors and Auditors

2. Item No. 2: To appoint director in place of Mr. Abhijit Yashwant Kadam (DIN: 06756295) who retires by rotation and offers himself for reappointment

3. Item No. 3: Appointment of M/s R P M G and Associates, Chartered Accountants (Firm Registration No. 015428C) as Statutory Auditors in casual vacancy caused by resignation of M/s Rajesh H. Gupta & Co. effective from 13 August 2026

  • Tenure: From 04 September 2026 till conclusion of 38th AGM
  • Remuneration: ₹1,00,000 for FY2027 (proportionately) plus applicable taxes and reimbursement of expenses
  • Reason for Change: Resignation of previous auditors without raising any concerns

4. Item No. 4: Appointment of M/s R P M G and Associates, Chartered Accountants as Statutory Auditors for 5 consecutive years

  • Tenure: From conclusion of 38th AGM until conclusion of 43rd AGM in 2031

Financial Performance Highlights (FY 2025-26)

  • Turnover: ₹0 (Previous year: ₹19,87,536)
  • Other Income: ₹10,929 (Previous year: ₹30,339)
  • Total Income: ₹10,929 (Previous year: ₹20,17,875)
  • Total Expenses: ₹23,17,035 (Previous year: ₹65,94,434)
  • Profit/Loss Before Tax: (₹23,06,106) (Previous year: (₹45,76,559))
  • Tax Expense: ₹0
  • Profit/Loss After Tax: (₹23,06,106) (Previous year: (₹45,76,559))
  • EPS: (₹1.65) (Previous year: (₹3.27))
  • No Dividend declared
  • No amount transferred to reserves

Share Capital Structure

  • Authorized Capital: ₹2,00,00,000 divided into 19,50,000 equity shares of ₹10 each and 50,000 12% Redeemable preference shares of ₹10 each
  • Paid-up Capital: ₹1,40,00,970 divided into 14,00,007 equity shares of ₹10 each and 90 12% Redeemable preference shares of ₹10 each
  • No change in share capital during the year

Board Composition and Key Managerial Personnel

  • Managing Director: Mr. Kaushik Chhotalal Shah (DIN: 00009510)
  • Whole-time Director & CFO: Mr. Abhijit Yashwant Kadam (DIN: 06756295)
  • Company Secretary & Compliance Officer: Ms. Pooja Jain (ACS: 43404)
  • Independent Directors: Ms. Priyanka Garg, Mr. Raju Kumar Mishra

Auditor Changes

  • M/s Rajesh H. Gupta & Co. (Firm Registration No. 133884W) resigned as Statutory Auditors effective 13 August 2026
  • Casual vacancy filled by appointment of M/s R P M G and Associates from 04 September 2026

Key Observations from Reports

Secretarial Audit Report Observations:

1. Company has not appointed Internal Auditor as required under Section 138 of Companies Act, 2013

2. Mr. Raju Kumar Mishra, Independent Director had not registered with Independent Directors Databank maintained by IICA

3. Mr. Abhijit Yashwant Kadam holding KMP position in more than one company in violation of Section 203(3)

Statutory Auditor's Key Audit Matters:

1. Borrowings reflected as liability of sales tax amounting ₹23.20 lakh outstanding for more than 15 years

2. Company in process of amalgamation with Shivang Edibles Oils Limited

3. Trade receivables of ₹1,11,39,870 due from associate companies with no provision made

Corporate Developments

  • Registered Office Shifted from Maharashtra to Madhya Pradesh approved by Regional Director on 12 December 2025
  • Amalgamation Process: Board approved Scheme of Amalgamation with Shivang Edibles Oils Limited on 08 April 2026
  • Business Status: Company did not carry out any business activity during FY26, looking to commence real estate operations

Service Providers

  • Registrar & Transfer Agent: MUFG Intime India Private Limited
  • Secretarial Auditor: M/s Lalit Singhal & Associates
  • Bankers: Canara Bank, HDFC Bank Ltd., Union Bank of India
  • Scrutinizer for e-voting: M/s Subhash Purohit & Associates, Company Secretaries

Voting Arrangements

  • Remote e-voting through MUFG Intime India Private Limited
  • Voting instructions provided for shareholders holding shares in both physical and demat mode
  • Facility for institutional shareholders and custodians outlined
  • Results to be declared through scrutinizer's report

Financial Position as at 31 March 2026

  • Total Assets: ₹1,24,15,955 (Previous year: ₹8,65,03,667)
  • Equity: (₹41,91,438) deficit (Previous year: (₹18,85,332) deficit)
  • Trade Receivables: ₹1,11,39,870 (due from associate companies)
  • Cash & Cash Equivalents: ₹2,17,446