Key Quantitative Figures

  • Revenue from Operations: ₹63.97 lakhs (FY25: ₹54.03 lakhs)
  • Other Income: ₹0.69 lakhs (FY25: ₹14.79 lakhs)
  • Total Income: ₹64.67 lakhs (FY25: ₹68.82 lakhs)
  • Total Expenditure: ₹51.02 lakhs (FY25: ₹38.81 lakhs)
  • Profit Before Tax: ₹13.65 lakhs (FY25: ₹30.01 lakhs)
  • Provision for Taxation: ₹8.87 lakhs (including current tax ₹3.88 lakhs and income tax of earlier years ₹4.99 lakhs) (FY25: ₹0.37 lakhs)
  • Net Profit: ₹4.78 lakhs (FY25: ₹29.64 lakhs)
  • Transfer to Reserve u/s 45-IC of RBI Act, 1934: ₹0.96 lakhs (FY25: ₹5.93 lakhs)
  • Surplus carried to Balance Sheet: ₹3.82 lakhs (FY25: ₹23.71 lakhs)
  • Equity Share Capital: ₹1,676.22 lakhs (unchanged from previous year)
  • Total Assets: ₹326.44 lakhs (FY25: ₹305.98 lakhs)
  • Loans Portfolio: ₹291.21 lakhs (unchanged from previous year)
  • Borrowings: ₹19.15 lakhs (FY25: ₹20.82 lakhs)
  • Earnings Per Share: ₹0.03 (FY25: ₹0.18)

Dates of Action

  • AGM Date: 8th September 2026 at 3:30 PM IST through video conference
  • Book Closure: 1st September 2026 to 8th September 2026 (both days inclusive)
  • E-voting Period: 5th September 2026 (9:00 AM) to 7th September 2026 (5:00 PM)
  • Cut-off date for e-voting: 1st September 2026
  • Board Meetings Held: 5 meetings during FY25-26 on 12.05.2025, 08.08.2025, 04.09.2025, 14.11.2025, and 13.02.2026

Parties Involved

  • Statutory Auditors: M/s. A. P. Rajagopalan & Co., Chartered Accountants
  • Secretarial Auditors: M/s. SB and Company, Practicing Company Secretaries
  • Registrar & Share Transfer Agent: MUFG Intime India Private Limited
  • Scrutinizer for AGM: CS Shilpa Mahesh Bandre, Practicing Company Secretary

Director Changes

  • Mr. Ashok Katra resigned as Non-Executive Independent Director effective 2nd April 2025
  • Mr. Prodyut Banerjee appointed as Additional Director (Independent) effective 12th May 2025
  • Dr. Sumana Raychaudhury appointed as Additional Director (Independent) effective 4th September 2025
  • Mr. Mayur Nagindas Doshi retires by rotation and offers himself for re-appointment

Key Managerial Personnel Changes

  • Mr. Manojkumar Kamble resigned as Company Secretary effective 31st July 2025
  • Mr. Kamal Prajapati appointed as Company Secretary effective 4th September 2025 (until 31st March 2026)
  • Ms. Navya Ravi Pachimatla appointed as Company Secretary effective 26th May 2026

Auditor Observations

Statutory Auditor Observations:

  • Mr. George Sundersingh John Davis has not provided written representation of his qualification as at March 31, 2026 in terms of Section 164(2) of Companies Act, 2013
  • Management reply: Company is in process of obtaining the representation

Secretarial Auditor Observations:

1. Mr. George Sundersingh John Davis has not provided written representation of his qualification

2. Certain penalties/charges levied by BSE Limited for regulatory/procedural matters

3. No Internal Auditor appointed during the financial year

4. Delay in filing Reconciliation of Share Capital Audit Report for quarter ended June 30, 2025

5. Company is in process of complying with Minimum Net Owned Funds requirements as prescribed by RBI

Board's Comments on Observations:

  • Representation from Mr. Davis being obtained
  • BSE penalties were specific and procedural in nature
  • Internal Auditor appointment in process for current year
  • Delay in share capital audit filing was inadvertent and procedural
  • Steps initiated to increase Net Owned Funds to meet RBI requirements

Financial Impact

  • No dividend declared for FY25-26 to conserve resources
  • Unpaid dividend of ₹3,849/- not transferred to IEPF within prescribed period
  • Company incurred penalties from BSE for delayed compliance with SEBI LODR regulations

Capital Structure Impact

  • No change in equity share capital during the year
  • No equity shares with differential voting rights, stock options, or sweat equity shares issued
  • Company is subsidiary of Inimitable Capital Finance Private Limited (50.54% holding)

Net Owned Funds (NOF) Status

  • Net Owned Funds as on 31st March 2026: ₹2.85 crores
  • Minimum RBI requirement: ₹5 crores (not met as of 31st March 2026)
  • Board approved raising capital through rights issue of up to ₹6 crores on 28th March 2025

Other Material Disclosures

  • No fraud reported by auditors under Section 143(12) of Companies Act, 2013
  • No material orders passed by regulators/courts/tribunals impacting going concern status
  • No subsidiaries, associates, or joint venture companies during the period
  • Whistle Blower Policy and Fair Practices Code in place
  • No instances of sexual harassment reported during the year
  • Related party transactions were in ordinary course of business and at arm's length

AGM Business Items

1. To receive, consider and adopt Audited Standalone Financial Statements for FY 2025-26

2. To appoint director in place of Mr. Mayur Nagindas Doshi who retires by rotation