Appointment of Mr. Natesan Kameswaron (DIN: 11101170) as Whole-time DIrector for a period of five years
Awaiting price reaction for this filing.
At its 14 August 2025 meeting, the board of SIP Industries approved multiple items, including the unaudited Q1 FY26 results (quarter ended 30 June 2025), the appointment of Mr. Natesan Kameswaron (DIN: 11101170) as Whole-time Director for five years, re-appointment of Mr. Samiayya Arularasan as Director liable to retire by rotation, and the appointment of M/s Chandra Sekaran & Co as Internal Auditor for FY 2025-26 and M/s KRA & Associates as Secretarial Auditor (5-year term). Q1 FY26 showed zero revenue from operations and a net loss of Rs. 5.50 Lakhs, while accumulated losses of Rs. 534.54 Lakhs have fully eroded the company's net worth into negative territory. The statutory auditor flagged a material going-concern uncertainty, noting the company came under new management via CIRP (NCLT order dated 25 April 2022), has not commenced business yet, and that its BSE listing remains suspended pending relisting approvals. The 35th AGM is fixed for Friday, 19 September 2025 with 12 September 2025 as the cut-off date for voting.
This is a high-risk micro-cap turnaround story: the company has no current operations, negative net worth, a going-concern doubt, and a suspended BSE listing – shares are currently illiquid and the relisting outcome is uncertain. Investors should treat any investment as speculative until commercial operations actually begin and listing is restored.