Statement on Deviation or Variation of Funds for the quarter ended 31st March, 2026
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Autoriders International raised ₹8.99 crore through preferential allotment of equity shares on 31st December 2024. The funds have been deployed across three stated objects: Repayment of Loans (₹1.77 crore), Business Expansion (₹5.04 crore), and General Corporate Purpose (₹2.17 crore). The company has explicitly declared there is NO deviation or variation in the utilization of funds. Minor differences of a few lakhs exist between allocated and utilized amounts in each category, but these are within normal limits. The Audit Committee reviewed the statement on 21st May 2026 and provided no comments. Independent Chartered Accountants Vandana V. Dodhia & Co. have certified that the funds were utilized for the stated purposes as per the Offer Document.
This is a routine regulatory filing with positive implications. The absence of any deviation or variation in fund utilization indicates the company deployed capital as promised to investors. Minor underspend on General Corporate Purpose (by about ₹6.5 lakh) is negligible and does not raise concerns. Shareholders can be reassured that capital from the December 2024 preferential issue is being used as intended.