Key Quantitative Figures

Financial Performance (Amounts in ₹ Lakhs)

  • Revenue from Operations: FY26: Nil (FY25: ₹13.70)
  • Other Income: FY26: ₹0.08 (FY25: ₹2.40)
  • Total Revenue: FY26: ₹0.08 (FY25: ₹16.11)
  • Net Loss: FY26: ₹(78.88) (FY25: ₹(84.82))
  • Employee Benefits Expense: FY26: ₹5.70 (FY25: ₹10.47)
  • Finance Cost: FY26: ₹56.25 (FY25: ₹51.56)
  • Depreciation: FY26: ₹5.64 (FY25: ₹5.64)

Balance Sheet Position (as at 31st March 2026)

  • Authorized Capital: ₹1,295.00 lakhs (1,29,50,000 equity shares of ₹10 each)
  • Paid-up Capital: ₹355.00 lakhs (35,50,000 equity shares of ₹10 each)
  • Net Worth: ₹(217.67) lakhs
  • Total Assets: ₹438.01 lakhs
  • Total Liabilities: ₹655.68 lakhs
  • Cash & Cash Equivalents: ₹1.63 lakhs

Default Status

  • Defaulted in repayment of term loans aggregating ₹472.03 lakhs
  • Unpaid periods extending up to 730 days as at 31st March 2026
  • TDS payable of ₹13.60 lakhs outstanding for more than 6 months

Dates of Action

  • AGM Date: 28th September 2026 at 10:00 AM through Video Conferencing
  • Book Closure: 22nd September 2026 to 28th September 2026
  • E-voting Period: 25th September 2026 (9:00 AM) to 27th September 2026 (5:00 PM)
  • Cut-off Date for E-voting: 21st September 2026

Parties Involved

Board of Directors (as on 31st March 2026)

  • Mr. C. N. Somasekhar Reddy (DIN: 02441810) - Chairman and Managing Director
  • Mr. Srivenkata Ramana Tammisetti (DIN: 03195303) - Director
  • Ms. Archana Racha (DIN: 08517794) - Women Independent Director
  • Mr. Santosh Reddy Sripathi (DIN: 09663143) - Independent Director (ceased w.e.f 31st August 2026)
  • Ms. Kapila Tanwar (DIN: 10851121) - Independent Director (ceased w.e.f 31st August 2026)
  • Ms. Padmini Biradar (DIN: 11918505) - Independent Director (w.e.f 31st August 2026)

Key Managerial Personnel

  • Mr. Harshvardhan Barve - Company Secretary (ceased w.e.f 01/07/2025)
  • Ms. Sonakshi Agarwal - Company Secretary (w.e.f 01/09/2025)
  • Mr. Venkateswara Prasad Ratakonda - Chief Financial Officer

Professional Appointees

  • Statutory Auditors: M/s. Gorantla & Co, Chartered Accountants
  • Secretarial Auditor: Ms. Neha Pamnani, Company Secretary in Practice
  • Internal Auditor: M/s. Ganta & Co, Chartered Accountants
  • RTA: Bigshare Services Pvt Limited
  • Banker: Indian Overseas Bank, Main Branch, Abids, Hyderabad

Business Items for AGM

Ordinary Business

1. Adoption of audited financial statements for FY 2025-2026

2. Re-appointment of Mr. Srivenkata Ramana Tammisetti (DIN: 03195303) who retires by rotation

Special Business

3. Regularization and appointment of Ms. Padmini Biradar (DIN: 11918505) as Independent Non-Executive Director for term of 31st August 2026 to 30th August 2031

Financial and Operational Impact

  • Material Uncertainty: Auditors highlighted going concern issues due to accumulated losses exceeding net worth and loan defaults
  • No Dividend: Directors decided not to recommend dividend for FY 2025-2026
  • No Transfer to Reserves: No surplus in Profit and Loss account
  • Capital Structure: No change in share capital during the year

Corporate Governance Details

  • Board Meetings: 5 meetings held during FY 2025-2026
  • Audit Committee: 5 meetings held with composition changes during year
  • Nomination & Remuneration Committee: 1 meeting held
  • Stakeholders Relationship Committee: 2 meetings held
  • Independent Directors Meeting: Held on 14th February 2026

Compliance Status

  • Secretarial Audit Report: Qualified regarding non-payment of ACF leading to benpose stopped by NSDL and trading restrictions
  • Cost Records: Not required to maintain
  • CSR: Not applicable as company below thresholds
  • MSME: No outstanding dues to micro and small enterprises

Capital Structure Impact

  • No change in share capital during the year
  • Promoter holding: Sunitha (13.46%), C N Somasekhar Reddy (12.68%), T Srivenkata Ramana (5.94%)

Cash Flow Implications

  • Net cash used in operating activities: ₹(9.35) lakhs
  • No cash flow from investing or financing activities
  • Cash and cash equivalents decreased from ₹10.98 lakhs to ₹1.63 lakhs

Audit Qualifications

  • Material uncertainty regarding going concern due to accumulated losses and loan defaults
  • Default in repayment of term loans aggregating ₹472.03 lakhs
  • TDS payable of ₹13.60 lakhs outstanding for more than 6 months

Management Response to Audit Qualifications

  • Company taking necessary steps to improve financial position and regularize loan obligations
  • Management confident of meeting obligations and continuing as going concern
  • Company made payment of ACF dues post March 2026