OUTCOME OF BOARD MEETING
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Beryl Securities Ltd held its first board meeting for FY2025-26 on April 23, 2025. The board confirmed the company has not accepted and will not accept public deposits during the year, and reviewed RBI compliance. Three directors resigned with immediate effect: Mr. Sudhir Sethi, Mr. Sanjay Sethi, and Mr. Abhinav Naik (Independent Director). The board recommended seeking RBI prior approval for the appointment of Mr. Agam Gupta as Director and the resignation of Mr. Anshul Gupta. Policies were updated, including a new Wilful Defaulter policy. The board also flagged a server crash (SOD) with past data not yet recovered, which is an operational concern.
Multiple director resignations and a server crash with data loss raise governance and operational risk concerns for shareholders. The pending RBI approvals for director changes may also create near-term uncertainty, while the deposit stance keeps the business model unchanged.