Appointment of Mr. Ankit Soni as an addtional non executive Independednt director
Awaiting price reaction for this filing.
The board of Shree Rajeshwaranand Paper Mills, on August 12, 2025, approved the unaudited financial results for Q1 FY26 (quarter ended June 30, 2025). Revenue from operations was nil, with total expenses of ₹1.23 lakhs leading to a small loss after tax of ₹1.23 lakhs (vs a profit of ₹2.09 lakhs in Q1 FY25). The company also appointed Mr. Ankit Kumar Soni, a Fellow Chartered Accountant with 9 years of experience, as an Additional Non-Executive Independent Director for a 5-year term ending August 11, 2030, subject to shareholder approval. The filing notes that the company has completed its approved Resolution Plan under the insolvency framework, with SBI and Bank of India issuing No Dues Certificates in March 2025. Share capital reduction and fresh allotment under the plan are currently in process.
The appointment strengthens the board with an experienced finance professional during a critical post-resolution restructuring phase, which is positive for governance. However, continued zero revenue and ongoing capital restructuring signal the business is still in turnaround mode, leaving near-term financial performance weak.