Key Quantitative Figures

  • Revenue from Operations: ₹275,528.39 (hundreds) for FY 2025-26 vs ₹165,140.25 (hundreds) previous year
  • Total Income: ₹353,462.46 (hundreds) for FY 2025-26 vs ₹236,898.55 (hundreds) previous year
  • Net Loss: ₹(5,363.54) (hundreds) for FY 2025-26 vs ₹(5,432.12) (hundreds) previous year
  • Earnings Per Share: (₹0.008) for both FY 2025-26 and FY 2024-25
  • Paid-up Capital: ₹1,358,732.08 (hundreds) as of March 31, 2026
  • Proposed Secretarial Auditor Fees: ₹3,00,000 plus applicable taxes for 5 years
  • Chairman & MD Remuneration: ₹1,00,000 per month from October 1, 2026
  • ED & CFO Remuneration: ₹50,000 per month from October 1, 2026

Dates of Action

  • Annual Report Submission Date: August 31, 2026
  • AGM Date: September 24, 2026 at 2:00 PM
  • E-voting Period: September 21, 2026 (9:00 AM) to September 23, 2026 (5:00 PM)
  • Record Date: September 17, 2026
  • Board Resignations: July 22, 2026 (all previous directors and KMPs)
  • New Appointments: July 14, 2026 and July 22, 2026
  • Book Closure: September 18-24, 2026 (both days inclusive)

Parties Involved

Resigned Directors (July 22, 2026):

  • Mr. Deepak Mehta (Managing Director, DIN: 00046696)
  • Mr. Bhadresh Shah (Non-Executive Independent Director, DIN: 08028036)
  • Mr. Nehul Chheda (Non-Executive Independent Director, DIN: 08075432)
  • Ms. Divya Poriya (Non-Executive Independent Director, DIN: 08160358)

Resigned KMPs (July 22, 2026):

  • Mr. Hiren Kothari (CFO)
  • Mr. Chetan Bohra (Company Secretary)

Newly Appointed Directors:

  • Mr. Kaushik Jagannath Joshi (Executive Director from July 14, 2026, proposed as Chairman & MD, DIN: 00410595)
  • Ms. Radhika Kaushik Joshi (Executive Director from July 14, 2026, proposed as ED & CFO, DIN: 08206100)
  • Mr. Jignesh Shailesh Tank (Non-Executive Non-Independent Director from July 14, 2026, DIN: 11819899)
  • Mr. Vikram Navin Vador (Non-Executive Independent Director from July 22, 2026, DIN: 11828723)
  • Mr. Dhruv Suresh Bhanushali (Non-Executive Independent Director from July 22, 2026, DIN: 11831631)
  • Ms. Kiran Ramchandra Shelke (Non-Executive Independent Director from July 22, 2026, DIN: 11828692)

Auditors:

  • Statutory Auditors: M/s Bilimoria Mehta & Co., Chartered Accountants
  • Proposed Secretarial Auditors: M/s Bharat Prajapati & Co., Company Secretaries (Firm Registration No. S2012GJ176800)
  • RTA: MUFG Intime India Private Limited

Financial and Operational Impact

Capital Structure Impact: No change in share capital during the year. Paid-up capital remains at ₹1,358,732.08 (hundreds).

Cash Flow Implications:

  • Net cash used in operating activities: ₹(366,545.50) (hundreds)
  • Net cash from investing activities: ₹211,062.01 (hundreds)
  • Net cash from financing activities: ₹134,584.52 (hundreds)
  • Net decrease in cash: ₹(20,898.97) (hundreds)

Contingent Liabilities:

  • Income tax appeal pending in High Court for AY 2014-15
  • GST demand of ₹5,59,438 raised by CGST, Thane authority (appeal filed)

Purpose and Rationale

Board Changes: Complete overhaul of board and management citing change in management and need to expand revenue generation streams.

Object Clause Alteration: Proposed expansion of business objects to include pharmaceutical and healthcare products trading to diversify revenue streams.

Secretarial Auditor Appointment: Five-year appointment to ensure compliance with regulatory requirements.

Voting Items for AGM

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

2. Re-appointment of Mr. Kaushik Joshi who retires by rotation

3. Appointment of M/s Bharat Prajapati & Co. as Secretarial Auditors for 5 years (FY 2026-27 to 2030-31)

4. Appointment of Mr. Kaushik Joshi as Executive Director

5. Appointment of Mr. Kaushik Joshi as Chairman & Managing Director for 3 years

6. Appointment of Ms. Radhika Joshi as ED & CFO for 3 years

7. Appointment of Mr. Jignesh Tank as Non-Executive Non-Independent Director

8. Appointment of Ms. Kiran Shelke as Non-Executive Independent Director for 5 years

9. Appointment of Mr. Vikram Vador as Non-Executive Independent Director for 5 years

10. Appointment of Mr. Dhruv Bhanushali as Non-Executive Independent Director for 5 years

11. Alteration of Object Clause of Memorandum of Association

Additional Information

Shareholding Pattern:

  • Physical shares: 98.88% (67,172,424 shares)
  • Demat shares: 1.12% (764,180 shares)

Compliance Issues noted in Secretarial Audit:

  • Delay in filing MGT-14 forms for board resolutions
  • Non-filing of MGT-14 forms for special resolution and certain board resolutions

Virtual Meeting Instructions: Detailed procedures provided for attending AGM via VC/OAVM and e-voting through CDSL/NSDL systems.