Change in Management of the COmpany to give effect to Amalagmation of Company Citizen Solar pRivate Limited into Citizen Infoline Limited.
Awaiting price reaction for this filing.
Citizen Solar Limited (formerly Citizen Infoline Limited) held its Board meeting on 28th May 2026, approving audited standalone financial results for Q4 and FY ended 31st March 2026 with an unmodified opinion from statutory auditors. The company underwent an amalgamation where Citizen Solar Private Limited merged into Citizen Infoline Limited, resulting in the name change to Citizen Solar Limited. Mr. Ravindra Jain resigned as Director effective 29th May 2026. Five new directors were appointed subject to shareholder approval: Mr. Tansukhraj Jalchand Jain (brother of Managing Director), Mr. Harsh Omprakash Jain (son of Managing Director), Mr. Hareshkumar Dalal Parmar, Mr. Sagar Tansukhraj Jain (son of Tansukhraj Jain), and Mr. Vikas Agrawal. All Board committees were also reconstituted. M/s. R J & Associates was appointed as Cost Auditor for FY 2025-26 and 2026-27.
The amalgamation and name change from Citizen Infoline to Citizen Solar reflects a corporate restructuring. The appointment of multiple family members to the board may raise governance concerns for some investors. Financial results approval with unmodified opinion indicates clean audit status.