Board Meeting Details

The Board meeting commenced at 12:00 Noon and concluded at 01:00 PM at the Registered Office of the Company.

Key Matters Approved

1. Financial Results and Statements

  • Approved Audited Standalone Financial Results for the quarter and financial year ended March 31, 2026.
  • Approved Audited Standalone Financial Statements for FY ended March 31, 2026, comprising:
  • Balance Sheet
  • Statement of Profit and Loss
  • Cash Flow Statement
  • Notes forming part of financial statements

2. Audit Matters

  • Took note of the Audit Report issued by Statutory Auditors on the Financial Results and Statements.
  • Approved declaration pursuant to Regulation 33(3)(d) confirming issuance of Audit Report with Unmodified Opinion.
  • Approved Statement on Impact of Audit Qualifications for FY ended March 31, 2026, if applicable.

3. Related Party Transactions

  • Approved disclosure of Related Party Transactions pursuant to Regulation 23(9) of SEBI LODR Regulations.

4. Director Resignation

  • Accepted resignation of Mr. Ravindra Jain (DIN: 00412684) from the position of Director, effective from closure of business hours on May 29, 2026.
  • The Board recorded appreciation for his contributions during his tenure.

5. New Director Appointments

Approved appointment of five persons as Directors, subject to shareholder approval and regulatory approvals, effective May 28, 2026:

  • Mr. Tansukhraj Lalchand Jain: Brother of Managing Director Mr. Omprakash Jain. Education: B.Com. Appointment for five years subject to shareholder approval.
  • Mr. Harsh Omprakash Jain (DIN: 00269655): Son of Managing Director Mr. Omprakash Jain. Education: Bachelor of Commerce. Appointment for five years subject to shareholder approval.
  • Mr. Haresh Kumar Jivanlal Parmar (DIN: 01955268): Not related to any current Director. Has 32 years of experience in corporate advisory, financial oversight, taxation, audits, risk management, and strategic business consulting. Appointment for five years subject to shareholder approval.
  • Mr. Sagar Tansukhraj Jain (DIN: 08829186): Son of Tansukhraj Jain. Education: B.Com. Appointment for five years subject to shareholder approval.
  • Mr. Vikas Agrawal: Not related to any current Director. Experienced Practicing Chartered Accountant with expertise in Finance, Taxation, Audit, Corporate Compliance and Strategic Advisory. Appointment for five years subject to shareholder approval.

6. Board Committee Reconstitution

Approved reconstitution of various Board Committees effective May 28, 2026:

  • Audit Committee:
  • Chairman: CA Hareshkumar Parmar
  • Member: CA Vikash Agrawal
  • Member: Omprakash Lalchand Jain
  • Nomination and Remuneration Committee:
  • Chairman: CA Vikash Agrawal
  • Member: CA Hareshkumar Parmar
  • Member: Omprakash Jain
  • Stakeholders Relationship Committee:
  • Chairman: CA Hareshkumar Parmar
  • Member: CA Vikash Agrawal
  • Member: Chirag Jirawala
  • Member: Omprakash Jain
  • Member: Tansukhraj Jain

7. Cost Auditor Appointment

  • Approved appointment of M/s. R J & Associates, Cost Accountants, Ahmedabad (FRN: 004690) as Cost Auditor for conducting Cost Audit for Financial Years 2025-26 and 2026-27.
  • Remuneration subject to ratification by shareholders pursuant to Section 148 of Companies Act, 2013.
  • Appointment is consequent to applicability of Cost Audit provisions arising from amalgamation of Citizen Solar Private Limited with the Company.
  • Consent and eligibility certificate from the Cost Auditor was placed before the Board.

Documents Enclosed with Filing

1. Audited Standalone Financial Results for quarter and FY ended March 31, 2026

2. Audit Report issued by Statutory Auditors

3. Declaration pursuant to Regulation 33(3)(d) regarding Unmodified Opinion

4. Statement on Impact of Audit Qualifications (if applicable)

5. Related Party Transaction Disclosure