Neogem India Limited FY26 Annual Report Submission

Manufacturing operations stopped since January 2018 due to fierce competition and adverse market conditions
No production activities during FY 2025-26
Management attempting business revival but no detailed plans disclosed

Working capital loans from Punjab National Bank (₹10 crore limit) and Bank of India (₹5 crore limit) classified as Non-Performing Assets (NPA) since March 31, 2016
Bank accounts frozen by Deputy Commissioner of Sales Tax, Maharashtra since March 22, 2021
Trading in securities suspended by BSE Limited w.e.f. July 12, 2022
Demat accounts of promoters and promoter group frozen
Interest payable to banks not provided for in financial statements as amounts are unquantifiable without bank confirmations
Financial impact of unprovided interest: Not quantified in disclosure

Adverse opinion issued on financial statements
Key qualification: Company unable to repay liabilities, material uncertainty about going concern status not disclosed
Other matters:
Sundry debtors of ₹4,110.67 lakhs outstanding >3 years, unconfirmed, no provision made
Sundry creditors of ₹1,596.33 lakhs outstanding >3 years, unconfirmed
Provisions of ₹192.25 lakhs for rent & water charges outstanding >3 years
Interest on NPA loans not provided for

Multiple non-compliances identified:
No internal auditor appointed
Audit and Nomination Committees composition not compliant
Annual listing fees for 2025-26 not paid
Delayed submission of financial results for quarters ended March 31, 2025, June 30, 2025, and September 30, 2025
Delayed submission of shareholding patterns
Peer review certificate of statutory auditors overdue
No structured database for UPSI as required under SEBI PIT Regulations
Physical letters with web-link not sent to shareholders without email registration

Going concern: Management believes accounts can be prepared on going concern basis despite uncertainties
Internal auditor: Proper internal control systems in place despite no formal appointment
Committee composition: Searching for more independent directors
Result delays: Financial crunch prevented timely result finalization
Shareholding pattern: Depository fees unpaid, now resolved and patterns filed in January 2026
Peer review: Certificate renewal under process
UPSI database: Required software maintained as per SEBI PIT Regulations
Physical letters: Inadvertently missed due to regulation misinterpretation

35th Annual General Meeting: September 30, 2026, at 9:30 AM
Venue: Hotel Suncity Premiere, A-1, MIDC Central Road, SEEPZ, Andheri (East), Mumbai-400 093
Business:

1. Adoption of audited financial statements for FY 2025-26

2. Re-appointment of Mr. Ronak Doshi (DIN: 00102959) who retires by rotation

Mrs. Renu Kathuria (Independent Director) ceased w.e.f. September 2, 2025 after completing second term
Mrs. Manisha Sanjay Jangli (DIN: 11380488) appointed as Additional Non-Executive Independent Woman Director w.e.f. November 17, 2025
Mr. Gaurav Doshi and Mr. Ronak Doshi re-appointed as Managing Director and Whole-time Director respectively for five years from April 1, 2025
Ms. Shivali Mishra appointed as Company Secretary and Compliance Officer w.e.f. March 17, 2026