Key Quantitative Figures

  • Revenue from Operations: ₹2,000 for FY26 (₹18.00 lakh previous year)
  • Other Income: ₹2,500 for FY26 (Nil previous year)
  • Total Expenses: ₹49.67 lakh for FY26 (₹12.69 lakh previous year)
  • Loss Before Tax: ₹49.65 lakh for FY26 (Profit of ₹5.31 lakh previous year)
  • Net Loss: ₹50.54 lakh for FY26 (Profit of ₹5.31 lakh previous year)
  • Share Capital: ₹8.95 crore (89,50,200 equity shares of ₹10 each)
  • Proposed Secretarial Auditor Remuneration: ₹75,000 for FY27
  • Accumulated Losses: ₹1,04,12,055 as at March 31, 2026

Dates of Action

  • 39th AGM Date: Tuesday, 15th September, 2026 at 02:00 PM through VC/OAVM
  • Cut-off Date for Voting: Tuesday, 8th September, 2026
  • Book Closure Period: Wednesday, 9th September to Monday, 14th September, 2026
  • E-Voting Period: Friday, 11th September (09:00 AM) to Monday, 14th September, 2026 (05:00 PM)
  • Financial Year Ended: 31st March, 2026
  • Board Meeting Dates: 28th May 2025, 13th August 2025, 5th September 2025, 29th October 2025, 10th November 2025, 23rd January 2026, 14th February 2026

Parties Involved

  • Stock Exchanges: BSE Limited, The Calcutta Stock Exchange Limited
  • Statutory Auditors: M/s. Manish Mahavir & Co., Chartered Accountants
  • Secretarial Auditors: M/s. Nishant Bajaj & Associates (resigned 17th August 2026), proposed M/s. NNJ & Co.
  • RTA: M/s. S K Infosolutions Pvt Ltd.
  • Bankers: RBL Bank
  • E-Voting Agency: National Securities Depository Limited (NSDL)
  • Scrutinizer: M/s. Nishant Bajaj & Associates

AGM Business Items

Ordinary Business:

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

2. Re-appointment of Mr. Jatin Nanji Chheda who retires by rotation

Special Business:

3. Re-appointment of Mrs. Rajeswari Bangal as Independent Director for second term (19th January 2027 to 18th January 2032)

4. Re-appointment of Mr. Suman Das as Independent Director for second term (19th January 2027 to 18th January 2032)

5. Re-appointment of Mr. Jatin Nanji Chheda as Whole Time Director for 5 years from 1st October 2026

6. Appointment of M/s. NNJ & Co. as Secretarial Auditor for 5 years (FY2026-27 to FY2030-31)

Financial and Operational Impact

  • The company incurred a significant loss of ₹50.54 lakh in FY26 compared to profit of ₹5.31 lakh in previous year
  • Revenue declined drastically to ₹2,000 from ₹18.00 lakh in previous year
  • The company has accumulated losses of ₹1,04,12,055
  • No dividend declared for FY26
  • No transfers to reserves proposed

Capital Structure Impact

  • Share capital reduction proposal: From ₹8.95 crore (89,50,200 shares) to ₹89.50 lakh (8,95,020 shares) approved in EGM on 25th February 2026, subject to NCLT approval
  • Scheme of Arrangement for Reduction of Share Capital under Section 66 of Companies Act, 2013 pending NCLT approval

Corporate Governance

  • Board comprises 4 directors: 1 Executive, 3 Independent (including 1 woman director)
  • Ms. Jayita Bagchi resigned as Independent Director on 10th November 2025
  • Board met 7 times during FY26
  • Key Managerial Personnel: Mr. Jatin Nanji Chheda (Whole Time Director & CFO), Ms. Nandani Mimani (Company Secretary)
  • All committees (Audit, NRC, Stakeholder Relationship) reconstituted on 23rd January 2026

Auditor Qualifications

  • Statutory auditors noted company did not use accounting software with audit trail (edit log) feature
  • Secretarial audit report includes observation about approval for follow-on equity offering but no action taken
  • Internal financial controls considered adequate and operating effectively

Other Material Information

  • Company has no fixed assets, inventory, or foreign currency transactions
  • No fraud reported during the year
  • No pending litigation impacting financial position
  • No related party transactions requiring disclosure
  • No deposits accepted from public
  • Company exploring diversification options and fundraising through preferential issue, right issue or other appropriate methods