AGM Details

  • Date: Friday, September 25, 2026
  • Time: 12.45 PM IST
  • Mode: Video Conferencing/Other Audio Visual Means (VC/OAVM)
  • Record Date: September 18, 2026
  • Book Closure: September 19, 2026 to September 25, 2026 (both days inclusive)
  • E-voting Period: September 22, 2026 (9:00 am) to September 24, 2026 (5:00 pm)

Business to be Transacted

Ordinary Business:

1. To receive, consider and adopt the audited Standalone Financial Statements for FY ended March 31, 2026 along with Reports of Board of Directors and Auditors

2. To appoint Mr. Manish Baid (DIN: 00239347) who retires by rotation and offers himself for re-appointment

Financial Performance (₹ in Lakh)

| Particulars | FY 2025-26 | FY 2024-25 |

| Revenue | 170.86 | 329.24 |

| Profit/(Loss) before Tax, Depreciation & Finance Cost | (28.74) | (75.42) |

| Finance Cost | 0.47 | 2.84 |

| Profit/(Loss) before Depreciation | (29.21) | (78.26) |

| Depreciation | 4.65 | 6.16 |

| Net Profit/(Loss) before Taxation | (33.86) | (84.42) |

| Provision for Taxation | (20.12) | 0.68 |

| Profit/(Loss) after Tax & Extra-ordinary Items | (13.74) | (85.11) |

| Profit brought forward from Previous Year | (36.49) | 65.31 |

| Balance of Profit carried forward | (50.24) | (36.49) |

Key Financial Position (as at March 31, 2026)

  • Paid-up Equity Share Capital: ₹39.8296 Crore (39,82,96,000 Equity Shares of ₹1/- each)
  • Total Assets: ₹565.568 lakh
  • Total Liabilities: ₹120.821 lakh
  • Total Equity: ₹444.008 lakh
  • Cash & Bank Balances: ₹54.15 lakh

Dividend

No dividend proposed for FY 2025-26 due to losses and to conserve resources.

Board of Directors

Current Directors:

  • Mr. Inder Chand Baid (Chairman & Managing Director, DIN: 00235263)
  • Mr. Manish Baid (Executive Director, DIN: 00239347)
  • Mrs. Urmi Bose (Independent Director, DIN: 07245298)
  • Mrs. Akshaya Suved Chavan (Independent Director, DIN: 09421579) - appointed w.e.f. August 19, 2025
  • Mrs. Sonali Auddya Adak (Independent Director, DIN: 10756385)

Changes during the year:

  • Mr. Laxmi Narayan Sharma (Independent Director) resigned w.e.f. March 31, 2025
  • Mr. Mahavir Prasad Saraswat (Independent Director) resigned w.e.f. August 19, 2025

Key Managerial Personnel

  • Mr. Tushar Gathani (Chief Financial Officer)
  • Ms. Karishma Sureka (Company Secretary, appointed w.e.f. August 20, 2025)
  • Ms. Astha Mohan (Company Secretary, resigned w.e.f. July 31, 2025)

Auditors

Statutory Auditors:

M/s Maheshwari & Co., Chartered Accountants, Mumbai (FRN: 105834W)

  • Appointed for 2nd term of five years at 34th AGM held on September 27, 2023
  • Remuneration: To be determined by Board based on Audit Committee recommendation

Secretarial Auditors:

Mrs. Kriti Daga, Practicing Company Secretary (C.P. No. 14023)

  • Reappointed for five consecutive years commencing from FY 2025-26

Internal Auditors:

M/s A. K. Das & Co., Chartered Accountant Firm, Kolkata (FRN: 325204E)

Audit Qualifications and Emphasis of Matters

The Statutory Auditors' report contains no qualifications but includes the following emphasis of matters:

1. Balance in Loan & Advances accounts are subject to confirmation/reconciliation

2. Dormant bank accounts totaling ₹0.12 lakh reflected in books

3. Interest income not recognized on outstanding advances of ₹563.24 lakh

4. Interest income not recognized on outstanding loans of ₹409.52 lakh

5. First-time recognition of Expected Credit Loss (ECL) provision under Ind AS 109

Management has provided explanations for each emphasis matter, primarily stating that necessary discussions are underway to recover advances/loans and appropriate impacts will be accounted for.

Corporate Governance

The company has complied with corporate governance requirements under SEBI LODR Regulations, 2015. Key committees include:

  • Audit Committee: Mrs. Akshaya Suved Chavan (Chairperson), Mrs. Sonali Auddya Adak, Mr. Inder Chand Baid
  • Nomination & Remuneration Committee: Mrs. Akshaya Suved Chavan (Chairperson), Mrs. Sonali Auddya Adak, Mrs. Urmi Bose
  • Stakeholders' Relationship Committee: Mrs. Akshaya Suved Chavan (Chairperson), Mr. Inder Chand Baid, Mrs. Sonali Auddya Adak

Shareholding Pattern (as on March 31, 2026)

  • Promoters: 5.00% (19,926,032 shares)
  • Public: 95.00% (378,369,968 shares)
  • Dematerialized Holdings: 95.87% of public shareholding

Top public shareholders include Fraternize Dealcomm Private Limited (7.13%) and Monohar Tatwa (6.03%).

Related Party Transactions

All related party transactions were in ordinary course of business and at arm's length basis. Significant transactions include:

  • Loans & Advances to GCM Securities Limited: ₹225.00 lakh
  • Investments in GCM Securities Limited shares: Carrying value ₹151.33 lakh
  • Loans to Chello Commotrade Pvt. Ltd.: ₹205.37 lakh
  • Loans to Matarani Commotrade Pvt. Ltd.: ₹328.12 lakh
  • Loans to Cadillac Vanijya Pvt. Ltd.: ₹138.91 lakh

RBI Compliance

As an RBI-registered NBFC (Non-Deposit taking Company), the company complies with:

  • Master Direction DNBR. PD. 008/03.10.119/2016-17 dated September 01, 2016
  • Provisioning norms requiring 0.25% provision on standard assets
  • No public deposits held or accepted during the year

Risk Management

The company is exposed to various risks including:

  • Market risk (equity price fluctuations)
  • Credit risk (loan defaults)
  • Liquidity risk
  • Interest rate risk

Appropriate risk management frameworks and internal controls are in place.

Other Disclosures

  • Segment Reporting: Single segment of NBFC operations
  • Corporate Social Responsibility: Not applicable as company doesn't meet criteria under Section 135 of Companies Act, 2013
  • Foreign Exchange: No foreign exchange earnings/outgo during the year
  • Conservation of Energy: Not applicable to NBFC business
  • Technology Absorption: Not applicable to NBFC business
  • Sexual Harassment: No cases reported during the year

Important Dates

  • AGM: September 25, 2026
  • Book Closure: September 19-25, 2026
  • E-voting: September 22-24, 2026
  • Quarterly Results Dates for FY 2026-27:
  • Q1: On or before August 14, 2026
  • Q2: On or before November 14, 2026
  • Q3: On or before February 14, 2027
  • Q4: On or before May 30, 2027

Registrars and Share Transfer Agents

Purva Sharegistry (India) Pvt. Ltd.

No. 9, Shiv Shakti Ind. Estate, Gr. Floor, J. R. Boricha Marg, Lower Parel, Mumbai-400 011

Tel: +91 22-3522 0056, Email: support@purvashare.com

Compliance Officer

Ms. Karishma Sureka, Company Secretary