Outcome of the board meeting pursuant to Regulation 30 of SEBI(LODR) Regulations 2015
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
GK Consultants informed BSE that its Board met on May 30, 2025, but could not approve audited financial results for Q4 and FY ending March 31, 2025 because the Statutory Auditors did not submit the audit report in time. The Board also proposed amending the company's main objects to add lending against gold/gold ornaments and vehicle financing, signalling a possible pivot into NBFC-style lending. A new Statutory Auditor (Punam Kumar Gupta & Associates), a new Internal Auditor (Ayesha Gupta & Co.), and a new Secretarial Auditor (G Rishabh & Co.) were appointed, with the statutory auditor for a 5-year term from the upcoming AGM. Major management churn occurred: Saroj Gupta was redesignated from CFO to Managing Director, Pardeep Kumar Misra was appointed as Executive Director & CFO, while Managing Director Divya Malini Gupta and Independent Director Geeta Hans both resigned, triggering a reconstitution of all board committees. The registered office is being shifted within Delhi.
For shareholders, the failure to receive the audit report is a serious red flag that will delay final FY25 results and may increase compliance scrutiny. The simultaneous exit of the MD and an Independent Director, combined with family members (Saroj Gupta is the mother of Director Bakhshish Gupta) now occupying key posts, raises governance concerns. The proposed shift into gold and vehicle lending is a meaningful business pivot but adds execution risk for a small company.