Key Events and Dates

  • Annual General Meeting scheduled for Tuesday, 29th September 2026 at 2 PM (IST) through Video Conferencing (VC) or Other Audio-Visual Means (OAVM)
  • Remote e-voting period: Commencement on Friday, 25th September 2026 at 9:00 AM IST to Monday, 28th September 2026 at 5:00 PM IST
  • Cut-off date for determining voting rights: Tuesday, 22nd September 2026
  • Register of Members and Share Transfer Register closure: Wednesday, 23rd September 2026 to Tuesday, 29th September 2026 (both days inclusive)
  • Financial year ended: 31st March 2026

Business to be Transacted at AGM

Ordinary Business:

1. To receive, consider and adopt the audited standalone financial statements for FY ended March 31, 2026 together with Reports of Board of Directors and Auditors

2. To appoint director in place of Mr. Mansoorbhai Murtuza (DIN: 08965751) who retires by rotation and is eligible for re-appointment

Financial Performance Highlights (FY 2025-2026 vs FY 2024-2025)

| Particulars | FY 2025-2026 (₹ in Lakhs) | FY 2024-2025 (₹ in Lakhs) |

| Gross Income | 87.24 | 46.32 |

| Total Expenses | 36.95 | 327.99 |

| Profit before Tax | 50.29 | (281.67) |

| Provision for Taxation | 2.04 | 12.04 |

| Profit after Tax | 48.25 | (293.72) |

| Total Comprehensive Income | 48.25 | (293.72) |

| Earnings per Equity Share (Basic and Diluted) | ₹0.08 | (₹0.50) |

Capital Structure

  • Authorised Share Capital: ₹6,00,00,000 divided into 6,00,00,000 Equity Shares of ₹1 each (unchanged)
  • Issued, Subscribed and Paid-up Share Capital: ₹5,91,64,667 divided into 5,91,64,667 Equity Shares of ₹1 each (unchanged)
  • No dividend recommended for FY ended 31st March 2026
  • No amount transferred to reserves

Key Financial Position (as at 31st March 2026)

  • Total Assets: ₹996.47 Lakhs (Previous year: ₹942.33 Lakhs)
  • Current Assets: ₹996.47 Lakhs including:
  • Trade receivables: ₹53.20 Lakhs (Previous: Nil)
  • Cash and Cash equivalents: ₹37.10 Lakhs (Previous: ₹23.47 Lakhs)
  • Loans: ₹649.50 Lakhs (Previous: ₹655.20 Lakhs)
  • Other Current Assets: ₹256.66 Lakhs (Previous: ₹259.69 Lakhs)
  • Equity: ₹954.25 Lakhs comprising:
  • Equity Share Capital: ₹591.65 Lakhs
  • Other Equity: ₹362.61 Lakhs
  • Non-Current Liabilities: Borrowings ₹10.00 Lakhs (Previous: ₹1.00 Lakhs)
  • Current Liabilities: ₹32.26 Lakhs including:
  • Trade Payables: ₹14.90 Lakhs
  • Other Financial Liabilities: ₹2.01 Lakhs
  • Other Current Liabilities: ₹5.19 Lakhs
  • Provisions: ₹10.11 Lakhs

Board and Management Details (as on 31st March 2026)

Board of Directors:

  • Mr. Mansoorbhai Murtuza - Executive Director
  • Mr. Dinkal Darshil Sanghvi - Non-Executive Independent Director
  • Mr. Naresh Gopani - Non-Executive Non-Independent Director
  • Mr. Sohan Chaturvedi - Non-Executive Independent Director
  • Mr. Siddhesh Shankar Shende - Non-Executive Independent Director

Key Managerial Personnel:

  • Mr. Mansoorbhai Murtuza - Chief Financial Officer
  • Mr. Lal Chand Sharma - Company Secretary & Compliance Officer

Auditor Appointments:

  • Statutory Auditors: M/s. Bilimoria Mehta & Co., Chartered Accountants
  • Secretarial Auditor: M/s Nuren Lodaya & Associates, Practicing Company Secretaries
  • Internal Auditor: M/s Bhushan Adhatrao & Co., Chartered Accountants

Regulatory and Compliance Matters

  • Company complied with Secretarial Standards 1 and 2 issued by ICSI
  • No material orders passed by regulators/courts impacting going concern status
  • No fraud reported by auditors under section 143(12) of Companies Act, 2013
  • No pending litigations except disclosed in financial statements (Note 21)
  • No deposits accepted during the year under review

Related Party Transactions

All related party transactions entered on arm's length basis in ordinary course of business. Significant transactions include:

  • Rent paid: ₹1 Lakh
  • Intercorporate loan given: ₹0.50 Lakh
  • Interest on intercorporate loan: ₹0.07 Lakh
  • Intercorporate loan repayment: ₹4.70 Lakh
  • Director sitting fees: ₹2.55 Lakh
  • Mansoorbhai Murtuza loan repayment: ₹1 Lakh
  • Mansoorbhai Murtuza remuneration: ₹0.75 Lakh

Investment and Subsidiary Matter

Company had purchased 80% stake in Jalan & Jalan Collection Inc during FY 2020-21. During FY 2022-23, dispute arose with minority shareholder and company filed case alleging misfeasance, misrepresentation & misappropriation at District Mediation Center, Nagpur on 19-05-2022.

Management reassessed control over Jalan & Jalan Collection Inc and determined that despite 80% shareholding, company does not possess significant control and power, hence it does not qualify as subsidiary. Investment now classified under Ind AS 109 as financial instrument at fair value through profit and loss, valued at zero based on valuation report dated 27th April 2024.

Other Material Information

  • Company has 4 permanent employees on rolls
  • Median remuneration ratio for directors: Sitting fees only
  • No sexual harassment complaints received during the year
  • No CSR initiatives undertaken as provisions not applicable
  • Seven Board meetings conducted during the financial year
  • Company's listing status suspended w.e.f September 29, 2023 (BSE notice no. 20230829-55)

Auditor Qualifications

Statutory Auditors and Secretarial Auditor reported no qualifications, reservations or adverse remarks in their reports. However, auditors noted that audit trail feature in accounting software was not operated throughout the year for all relevant transactions.

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