The Board has approved the resignation of Mrs. Aarushi Jain (DIN 10936056), Independent Director at its meeting held on May 12, 2025.
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The board of Arco Leasing Ltd, at its May 12, 2025 meeting, approved the audited standalone and consolidated financial results for FY ended March 31, 2025, with the statutory auditor (M.C. Jain & Co.) issuing an unmodified opinion. On a standalone basis, the company reported a net loss of Rs 11.24 lakhs (slightly improved from Rs 12.33 lakhs loss in FY24), while on a consolidated basis it swung to a net profit of Rs 1.41 lakhs from a Rs 39.03 lakhs loss in FY24. The board also accepted the resignation of Independent Director Ms. Aarushi Jain (DIN 10936056), effective May 12, 2025, citing personal reasons and emerging professional commitments; she also ceased to be a member of the Audit Committee and Nomination & Remuneration Committee. Separately, Mrs. Priyanka Oka was appointed as Secretarial Auditor for a five-year term (FY 2025-26 to FY 2029-30), subject to shareholder approval.
The resignation is of a single Independent Director for personal reasons, so governance impact appears limited, though the company will need to fill the vacancy and audit committee seat. Financially, the consolidated return to profit is a positive sign, but standalone losses continue and the company carries negative other equity of Rs 67.14 lakhs (standalone) and Rs 81.64 lakhs (consolidated), signalling weak capital position.