Board of Directors Composition (as of March 31, 2026)

  • Mr. Sajeve Deora (Director)
  • Mr. Vijay Kumar Narang (Independent Director)
  • Mr. Gyaneshwar Sahai (Independent Director)
  • Ms. Kalpana Shukla (Director)
  • Mr. K.V. Singhal (Independent Director)

Key Managerial Personnel

  • Chief Executive Officer: Mr. Anil Kumar Tiwari (w.e.f 30.06.2023)
  • Chief Financial Officer: Mr. Pinku Kumar Singh (upto 14.02.2026), Mr. Ashish Sanwal (from 13.05.2026)
  • Company Secretary & Compliance Officer: Ms. Vartika Jain (w.e.f 02.12.2024)

Financial Performance Summary (Standalone)

FY 2025-26 vs FY 2024-25 (₹ in Lakhs)

| Particulars | 2025-26 | 2024-25 |

| Income from Operations | 15.75 | - |

| Other Income | 43.92 | 25.30 |

| Total Income | 59.67 | 25.30 |

| Employee Benefit Expenses | 17.27 | 16.86 |

| Depreciation | 0.72 | 1.35 |

| Other Expenses | 30.44 | 19.71 |

| Profit/(Loss) Before Tax | 11.24 | (12.63) |

| Current Tax | 1.74 | - |

| Deferred Tax | 90.76 | (3.27) |

| Short Provision for Tax (Prev Year) | - | 1.44 |

| Profit/(Loss) After Tax | (81.26) | (10.80) |

| Other Comprehensive Income/(Loss) | 96.24 | - |

| Total Comprehensive Income/(Loss) | 14.98 | (10.80) |

Financial Performance Summary (Consolidated)

FY 2025-26 vs FY 2024-25 (₹ in Lakhs)

| Particulars | 2025-26 | 2024-25 |

| Income from Operations | 84.00 | 66.17 |

| Other Income | 51.28 | 8.25 |

| Total Income | 135.28 | 74.42 |

| Employee Benefit Expenses | 19.59 | 22.78 |

| Depreciation | 12.42 | 16.28 |

| Other Expenses | 75.24 | 37.31 |

| Profit/(Loss) Before Exceptional Items & Tax | 28.03 | (1.95) |

| Exceptional Items | (47.28) | - |

| Current Tax | 19.96 | 5.70 |

| Deferred Tax | 89.87 | (8.52) |

| Short Provision for Tax (Prev Year) | 0.44 | 1.56 |

| Profit/(Loss) After Tax | (129.52) | (0.69) |

| Other Comprehensive Income | 53.91 | (9.70) |

| Share in Profit/(Loss) of Associates | 4.79 | (4.45) |

| Total Comprehensive Income/(Loss) | (70.82) | (14.84) |

Capital Structure

  • Authorized Share Capital: ₹10.30 crores comprising 4.30 crore equity shares of ₹1 each and 6,00,000 7% Cumulative, Non-Convertible Redeemable Preference Shares of ₹100 each
  • Paid-up Share Capital: ₹5.60 crores comprising 3,55,84,000 equity shares of ₹1 each and 2,05,000 preference shares of ₹100 each
  • Equity Shares listed on: BSE Limited
  • Preference Shares: Not listed on any exchange

Dividend Declaration

  • No dividend recommended for the year under review
  • Sole preference shareholder waived right to receive current and accumulated dividend
  • Redemption date of preference shares extended by two years upon shareholder request

Business Operations

The company is engaged in providing advisory services on distressed assets, insolvency and bankruptcy, and support services to Insolvency Professionals. There has been no change in the nature of business during the year.

Subsidiary Companies

100% Subsidiaries:

1. RAAS Consulting Private Limited: Advisory and consulting services in insolvency, restructuring and corporate laws

2. Green Infra Profiles Private Limited: Consulting services in financial accounting, income tax and corporate laws

3. ICSL Consulting Private Limited: Services in direct/indirect tax returns and corporate law filings

Step-down Subsidiary:

  • Borrelli Walsh India Private Limited: Consulting services in corporate structuring (100% subsidiary of ICSL Consulting)

Associate Companies/Joint Ventures

1. KW Publishers Private Limited: 40% equity holding, engaged in publishing and distribution of books

2. Sun Links Limited: 50% equity participation in UK company, voluntarily liquidated and dissolved on 31.03.2026

3. BTG Global Advisory Ltd: Company limited by guarantee in UK, promoted with professional services firms from 9 countries

Annual General Meeting Details

  • Date: September 30, 2026
  • Time: 09:30 AM (IST)
  • Mode: Video Conferencing/Other Audio Visual Means
  • Business:
  • Adoption of audited financial statements and reports
  • Re-appointment of Mr. Sajeve Deora as Director and Chairman

Remote E-Voting Arrangements

  • Service Provider: National Securities Depository Limited (NSDL)
  • Voting Period: September 26, 2026 (09:30 AM) to September 29, 2026 (05:00 PM)
  • Record Date: September 23, 2026

Key Changes and Events

1. Preference Share Redemption: Extended by two years to January 14, 2028 upon shareholder request

2. Registered Office: Relocated to 1313, 13th Floor, Avanta Business Centre, Ambadeep, KG Marg, New Delhi 110001

3. Key Managerial Changes:

  • Mr. Pinku Kumar Singh resigned as CFO effective February 14, 2026
  • Mr. Ashish Sanwal appointed as CFO effective May 13, 2026
  • Mr. Ashish Sanwal replaced as Internal Auditor by G. Manish & Co., Chartered Accountants

4. Associate Company: Sun Links Limited dissolved on March 31, 2026

5. Investment Revaluation: Company policy to carry out fair value of investments at earlier of 24 months or significant change in business circumstances

Corporate Governance

  • Board met 5 times during the year
  • All applicable committees constituted (Audit, Stakeholders Relationship, Nomination and Remuneration, Investment)
  • Familiarization programs conducted for Independent Directors
  • Whistle Blower Policy implemented and available on company website

Related Party Transactions

All related party transactions were in ordinary course of business and approved by Audit Committee. Details provided in Annexure A of Directors' Report.

Shareholding Pattern (as on March 31, 2026)

  • Promoters & Promoter Group: 65.89% (2,34,45,085 shares)
  • Public: 34.11% (1,21,38,915 shares)
  • Shares in Suspense Account: 337 shareholders holding 25,75,000 equity shares

Forward Outlook

The Board is hopeful that company performance would improve during financial year 2026-27.

#Tags: #IntegratedCapitalServices #AnnualReport #SEBIDisclosure #FinancialResults #CorporateGovernance #Neutral