Key Quantitative Figures

  • Revenue from Operations: ₹0 for FY 2025-26 (Previous Year: ₹2,994.41 thousand)
  • Other Income: ₹0 for FY 2025-26 (Previous Year: ₹0)
  • Total Income: ₹0 for FY 2025-26 (Previous Year: ₹2,994.41 thousand)
  • Other Expenses: ₹646.15 thousand for FY 2025-26 (Previous Year: ₹310.25 thousand)
  • Profit/(Loss) Before Tax: Loss of ₹646.15 thousand for FY 2025-26 (Previous Year: Profit of ₹2,684.16 thousand)
  • Tax Expense: ₹0 for FY 2025-26 (Previous Year: ₹376.11 thousand)
  • Net Profit/(Loss): Loss of ₹646.15 thousand for FY 2025-26 (Previous Year: Profit of ₹2,308.05 thousand)
  • Earnings Per Share (Basic & Diluted): (₹0.07) for FY 2025-26 (Previous Year: ₹0.25)
  • Total Assets: ₹27,658.18 thousand as of March 31, 2026 (Previous Year: ₹27,730.56 thousand)
  • Loans (Financial Assets): ₹27,237.20 thousand as of March 31, 2026 (Previous Year: ₹27,362.20 thousand)
  • Cash and Cash Equivalents: ₹121.54 thousand as of March 31, 2026 (Previous Year: ₹68.92 thousand)
  • Borrowings (Unsecured Loans): ₹1,198.54 thousand as of March 31, 2026 (Previous Year: ₹1,083.25 thousand)
  • Equity Share Capital: ₹91,778.50 thousand (9,177,850 shares of ₹10 each)
  • Other Equity (Deficit): (₹67,557.49) thousand as of March 31, 2026 (Previous Year: (₹66,911.34) thousand)
  • Secretarial Auditor Fees: Proposed fee of ₹50,000 per financial year plus applicable taxes for a 3-year term

Dates of Action

  • AGM Date: November 14, 2026 at 4:00 PM IST (to be held through Video Conferencing)
  • Remote E-voting Period: November 11, 2026 (9:00 AM IST) to November 13, 2026 (5:00 PM IST)
  • Cut-off Date for E-voting: November 6, 2026
  • Board Meetings Held: 5 meetings during FY 2025-26
  • Audit Committee Meetings: 4 meetings during FY 2025-26
  • Financial Year End: March 31, 2026
  • Report Date: October 19, 2026

Parties Involved

  • Statutory Auditors: M/s. Mathur & Company, Chartered Accountants (Firm Registration No. 001952C)
  • Secretarial Auditors: M/s. Nishtha Khandelwal & Associates, Company Secretaries (Membership No. A71865)
  • Internal Auditors: M/s Rajat Kala & Associates (Firm Registration No. 027803C)
  • Registrar and Transfer Agent: Big Share Services Private Limited
  • Stock Exchange: BSE Limited
  • Regulators: SEBI, RBI, Ministry of Corporate Affairs

Board of Directors & Key Managerial Personnel

  • Mr. Ajay S Mittal: Chairman & Executive Director (DIN: 00226355)
  • Mrs. Shweta Atul Phanse: Executive Director (DIN: 07146218) - Proposed change to Non-Executive Director
  • Mrs. Archana Maheshwari: Non-Executive Independent Director (DIN: 09180967)
  • Mrs. Hema Vikas Shah: Non-Executive Independent Director (DIN: 09718467)
  • Mr. Mahesh Mhatre: Chief Executive Officer (KMP)
  • Company Secretary: Resigned (Ms. Pooja Agrawal resigned April 1, 2024)
  • Chief Financial Officer: Resigned (Mrs. Sonal Gupta resigned September 24, 2024)

Financial & Operational Impact

  • No Revenue: Company recorded no revenue from operations during FY 2025-26.
  • Net Loss: Company incurred a net loss of ₹646.15 thousand compared to profit in previous year.
  • Going Concern: Financial statements prepared on going concern basis despite accumulated losses and negative net worth.
  • NBFC Compliance: Company's Net Owned Funds are below RBI's minimum requirement of ₹200 lakh for NBFCs.
  • Trading Status: Equity shares suspended from trading on BSE due to penal reasons and non-payment of Annual Listing Fees.
  • Loan Exposure: ₹27,237.20 thousand in loans given to companies in which directors are interested, outstanding for a long period with no repayments/interest recovery.
  • Dividend: No dividend recommended for FY 2025-26.

Capital Structure Impact

  • No change in share capital during the year (remains at 9,177,850 equity shares of ₹10 each)
  • No shares issued, bought back, or otherwise altered

Cash Flow Implications

  • Net Cash from Operating Activities: (₹62.67) thousand
  • Net Cash from Financing Activities: ₹115.29 thousand (from borrowings)
  • Net Increase in Cash: ₹52.62 thousand
  • Cash Flow Statement Prepared using indirect method as per Ind AS 7

Forward-Looking Commentary

  • Management believes loans are good and recoverable despite long outstanding period
  • Company is taking steps to address BSE trading suspension and listing fee dues
  • No material changes or commitments affecting financial position between year-end and report date

Governance & Compliance Highlights

  • Secretarial Audit Report identified multiple non-compliances:
  • No Company Secretary or CFO appointed during the year
  • No Annual General Meeting held during the financial year
  • Audit Committee composition not compliant (independent directors not constituting majority)
  • Nomination and Remuneration Committee composition not compliant (chaired by executive director)
  • Non-compliance with various SEBI LODR Regulations
  • Whistleblower Policy: In place, no complaints received during the year
  • Related Party Transactions: All in ordinary course of business at arm's length basis
  • Sexual Harassment Committee: Constituted, no complaints received during the year

Auditor Reports

  • Statutory Auditors: Unmodified opinion on financial statements, emphasis on going concern and NBFC compliance issues
  • Secretarial Auditors: Qualified report with multiple instances of non-compliance noted
  • Internal Financial Controls: Auditors opinion states controls are adequate and operating effectively