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Awaiting price reaction for this filing.
Befound Movement Limited has called its 37th AGM on Friday, September 26, 2025 at 4:00 PM, to be held via video conferencing. Three items are on the agenda: (1) adoption of audited financial statements for FY ending March 31, 2025; (2) approval of related party transactions up to Rs. 2 crore with Managing Director and CFO Rajesh Kapoor, which includes an unsecured loan of Rs. 2 crore — this is unusually large at 138% of the company's annual turnover of Rs. 1.45 crore; and (3) appointment of M/s. DSM and Associates as Secretarial Auditor for a 5-year term (FY 2025-26 to FY 2029-30) at an annual fee of Rs. 25,000 plus taxes, replacing the previous auditor M/s. MNB & Co. LLP who resigned due to pre-occupation. The register of members will be closed from September 20-22, 2025, and remote e-voting is open from September 23-25, 2025.
The Rs. 2 crore related party loan to the Managing Director is roughly 1.4x the company's entire annual turnover, which is a red flag for small shareholders as it represents significant cash outflow to the promoter. The auditor change is routine, and the AGM is standard procedural business. Shareholders should watch the RPT resolution closely — related parties cannot vote on it.