Key Financial Figures

  • Total Income: ₹15,33,715
  • Total Expenses: ₹12,43,850
  • Profit Before Tax: ₹2,89,864
  • Deferred Tax Expense: ₹9,13,162
  • Net Loss for FY 2025-26: ₹(6,23,298)
  • Earnings Per Share (Basic & Diluted): (₹0.02)
  • Paid-up Equity Share Capital: ₹7,04,08,000 (3,52,04,000 equity shares of ₹2 each)
  • No dividend recommended for the financial year
  • Current year loss transferred to Reserves & Surplus

AGM Details

  • Date: Tuesday, 29th September, 2026
  • Time: 11:00 A.M.
  • Venue: Registered office at Plot No. 3, Hindustan Colony, Wardha Road, Nagpur-440015
  • Remote e-voting period: 26th September 2026 (9:00 A.M.) to 28th September 2026 (5:00 P.M.)
  • Record date (cut-off date): 22nd September, 2026

Business Items to be Transacted

Ordinary Business

1. To receive, consider and adopt Audited Financial Statements for FY ended 31st March, 2026 with reports of Board and Auditors

2. To re-appoint Mr. Naresh Satyanarayan Saboo (DIN: 00297916) as Managing Director

Special Business

3. To appoint Mr. Jigar Hasmukhrai Kamdar (DIN: 01907056) as Non-Executive Independent Director for 5 years from 29th September 2026 to 28th September 2031

4. To appoint Mr. Balkisan Satyanarayan Bang (DIN: 07531679) as Non-Executive Independent Director for 5 years from 29th September 2026 to 28th September 2031

Director Details

Current Board Composition

  • Shri Naresh Saboo (Managing Director & CFO, DIN: 00297916)
  • Smt. Madhu Saboo (Whole Time Director, DIN: 00395363)
  • Mr. Nikesh Subhash Zade (Non-Executive Additional Independent Director, DIN: 10011059) - Resigned 31/03/2026
  • Mr. Gopal Shrikant Kabra (Non-Executive Additional Independent Director, DIN: 10777447) - Resigned 31/03/2026

Proposed New Directors

Mr. Jigar Hasmukhrai Kamdar (DIN: 01907056)

  • Age: 61 years, Bachelor of Commerce from RTMNU, Nagpur
  • Over three decades of experience in manufacturing, financial services, construction and infrastructure
  • No shareholding in company, will receive sitting fees
  • No inter-se relationships with other directors/KMP

Mr. Balkisan Satyanarayan Bang (DIN: 07531679)

  • Age: 65 years, Fellow Member of ICAI, B.Com from RTMNU, Nagpur
  • Over four decades of experience in corporate audit, compliance and governance
  • No shareholding in company, will receive sitting fees
  • No inter-se relationships with other directors/KMP

Operational Status

  • No business operations during FY 2025-26
  • No new infrastructure projects secured
  • No employees on payroll during the year (other than company secretary who resigned)
  • Trading suspended since March 2020 due to non-payment of listing fees
  • Bank borrowings classified as NPA

Borrowings and Financial Position

  • Non-current borrowings: ₹2,40,41,315 (Term loans from Union Bank of India and SREI Equipment Finance)
  • Current borrowings: ₹4,70,56,285 (from Union Bank of India - Cash Credit and Overdraft)
  • Secured by: Hypothecation of assets, mortgage of properties, pledge of shares, and personal/corporate guarantees
  • Union Bank of India auctioned properties under SARFAESI Act in FY 2021-22, recovering ₹4,03,14,000

Auditors and Compliance

Statutory Auditors: R A Gupta & Associates, Chartered Accountants, Nagpur

Secretarial Auditors: M/s. Avinash Gandhewar & Associates, Practicing Company Secretaries, Nagpur

Key Audit Observations

  • Material uncertainty regarding going concern due to no business operations and no employees
  • Bank borrowings classified as NPA with properties taken over by bank
  • Company vacated premises and shifted to new location

Secretarial Audit Observations

1. Company Secretary resigned on 15th February 2026, position remains vacant

2. Default in payment of annual listing fees leading to trading suspension

3. Non-filing of DIR-12 forms for director appointments/regularizations

4. Non-compliance with some provisions of Companies Act, 2013 and SEBI LODR Regulations

5. Structured Digital Database compliance status not updated on BSE portal

Contingent Liabilities

  • Local Body Tax demand: ₹75,20,319 (appeal pending in Bombay High Court)
  • ESIC demand: ₹8,21,858 (appeal pending with ESIC Appellate Authority)

Corporate Governance

  • Compliance with corporate governance regulations not applicable as paid-up equity capital below ₹10 Crores and net worth below ₹25 Crores
  • Board meetings held: 4 during FY 2025-26 (28.05.2025, 13.08.2025, 14.11.2025, 10.02.2026)
  • Board committees: Audit Committee, Nomination & Remuneration Committee, Stakeholders Relationship Committee

Related Party Transactions

  • No materially significant related party transactions during the year
  • Advances to related parties: ₹69,174 outstanding

Management Commentary

  • Situation considered temporary by management
  • Hopeful of business revival and procuring new contracts
  • Exploring opportunities for recommencement of operations
  • Focused on regularizing listing compliances and revocation of trading suspension