Event Details

Nature of Event: Notice of 18th Annual General Meeting and submission of Annual Report 2025-26 pursuant to Regulation 34(1) of SEBI Listing Regulations.

AGM Details:

  • Date: Wednesday, 30th September, 2026
  • Time: 11:00 a.m. IST
  • Venue: Through Video Conferencing/Other Audio Visual Means (VC/OAVM)
  • Deemed venue: Registered Office at Citi Mall, New Link Road, Andheri (W), Mumbai - 400053

Financial Performance Highlights (FY 2025-26)

Income Statement:

  • Revenue from Operations: ₹0 lakh (Previous Year: ₹0 lakh)
  • Other Income: ₹367.93 lakh (Previous Year: ₹0 lakh)
  • Total Income: ₹367.93 lakh (Previous Year: ₹0 lakh)
  • Total Expenditure: ₹427.88 lakh (Previous Year: ₹60.00 lakh)
  • Loss Before Tax: ₹(59.95) lakh (Previous Year: ₹(60.00) lakh)
  • Tax Expenses: ₹0 lakh (Previous Year: ₹0 lakh)
  • Loss After Tax: ₹(59.95) lakh (Previous Year: ₹(60.00) lakh)
  • Other Comprehensive Income: ₹1.72 lakh (Previous Year: ₹(0.49) lakh)
  • Total Comprehensive Loss: ₹(58.23) lakh (Previous Year: ₹(60.49) lakh)

Balance Sheet Position (as at March 31, 2026):

  • Authorized Share Capital: ₹85,00,00,000 (85 million equity shares of ₹10 each)
  • Paid-up Equity Share Capital: ₹4,13,99,020 (41,39,902 equity shares of ₹10 each fully paid-up)
  • Other Equity: ₹(688.05) lakh (Negative net worth)
  • Total Assets: ₹176.90 lakh (Previous Year: ₹544.58 lakh)
  • Current Assets: ₹3.22 lakh (Previous Year: ₹53.41 lakh)
  • Non-Current Assets: ₹173.68 lakh (Previous Year: ₹491.17 lakh)
  • Current Liabilities: ₹440.01 lakh (Previous Year: ₹381.20 lakh)
  • Non-Current Liabilities: ₹(263.11) lakh (Previous Year: ₹163.38 lakh)

Key Financial Ratios:

  • Earnings Per Share (Basic & Diluted): ₹(1.41) (Previous Year: ₹(1.47))
  • Return on Net Worth: Not calculable due to negative net worth
  • Debt Ratio: Not provided
  • Current Ratio: Approximately 0.007 (severely impaired)

Business Operations

Nature of Business: The Company is engaged in real estate and trading activities. During the year under review, there was no change in the nature of business.

Performance Context: The Board remains committed to exploring viable business opportunities. The Company incurred a total comprehensive loss of ₹58.23 lakh compared to ₹60.49 lakh in the previous financial year.

AGM Agenda Items

Ordinary Business:

1. To receive, consider and adopt the Audited Financial Statements for FY ended March 31, 2026, together with reports of Directors and Auditors

2. To appoint a director in place of Mr. Harsh L. Mehta (DIN: 01738989) who retires by rotation and is eligible for reappointment

Director Information

Board Composition (as on March 31, 2026):

  • Mr. Harsh L. Mehta (Managing Director, DIN: 01738989)
  • Mr. Nilesh H. Sarvaiya (Non-Executive Director, DIN: 00799636)
  • Mrs. Hemanti P. Sutaria (Non-Executive Independent Director, DIN: 05012487)
  • Mr. Jayesh J. Mehta (Non-Executive Independent Director, DIN: 00030636)

Director Seeking Reappointment - Mr. Harsh L. Mehta:

  • Date of Birth: October 21, 1981 (Age: 44 years)
  • Date of First Appointment: May 24, 2016
  • Qualifications: B.Sc., M.Sc.
  • Expertise: Finance, Legal, Corporate Governance, Project Management (22 years experience)
  • Remuneration: ₹21.21 lakh including all perquisites
  • Shares Held: Nil (self and beneficial owner)
  • Board Meetings Attended: 4 out of 4 during FY 2025-26
  • Other Directorships: 6 companies including Nilkanth Tech Park Construction Private Limited, Eternal AMNV Foundation, Ajmera Luxe Realty Private Limited, etc.

Key Managerial Personnel

  • Mr. Harsh L. Mehta - Managing Director
  • Mr. Suresh N. Pitale - Chief Financial Officer
  • Ms. Priyanka Khandelwal - Company Secretary & Compliance Officer (from August 14, 2025)
  • Ms. Krishna Agrawal - Former Company Secretary & Compliance Officer (resigned August 13, 2025)

Corporate Governance

Board Meetings: Four meetings held during FY 2025-26 on May 14, 2025; July 24, 2025; November 6, 2025; and January 29, 2026.

Committees:

  • Audit Committee: Mr. Jayesh J. Mehta (Chairman), Mrs. Hemanti P. Sutaria, Mr. Nilesh H. Sarvaiya
  • Nomination and Remuneration Committee: Mrs. Hemanti P. Sutaria (Chairperson), Mr. Jayesh J. Mehta, Mr. Nilesh H. Sarvaiya
  • Stakeholders' Relationship Committee: Mrs. Hemanti P. Sutaria (Chairperson), Mr. Harsh L. Mehta, Mr. Nilesh H. Sarvaiya

Compliance: The Company has complied with all applicable provisions of SEBI Listing Regulations and Companies Act, 2013.

Shareholding Pattern

Equity Share Capital: ₹4,13,99,020 divided into 41,39,902 equity shares of ₹10 each

Dematerialization: 99.88% of shares dematerialized as on March 31, 2026

Registrar & Transfer Agent: MUFG Intime India Private Limited (formerly Link Intime India Private Limited)

Voting Arrangements

Remote E-Voting Period: September 27, 2026 (9:00 a.m.) to September 29, 2026 (5:00 p.m.)

Cut-off Date: September 23, 2026

Scrutinizer: Mr. Haresh Sanghvi, Practicing Company Secretary (Membership No. FCS 2259)

Other Material Information

  • The Company has adopted green initiative for electronic communication with shareholders
  • No dividend declared for FY 2025-26 due to losses
  • No material changes affecting financial position between year-end and report date
  • Company continues as going concern despite negative net worth
  • All internal financial controls were adequate and operating effectively