Announced Wed, 15 Jul · 14:22 IST
Board clears auditors, KMP and major capital reduction to set off losses
Management Changes View source PDF
Price
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AI summary
Boston Commerce board approved S Parth & Co as statutory auditor (till 2031 AGM), new secretarial and internal auditors for FY27, and Deshna Jain as Company Secretary. Key item: capital reduction scheme to cancel 66.5 lakh of 70 lakh shares (about 95%) to set off accumulated losses of about Rs 6.65 crore. Share capital drops from Rs 7 crore to Rs 35 lakh on pro-rata basis; shareholder percentages stay unchanged. EGM on 5 August.
Likely market impact
Capital reduction cancels about 95% of shares to write off losses; no cash paid, ownership percentage unchanged but share count drops proportionally. EGM vote on 5 August.