Gujarat Lease Financing Limited has informed the Exchange regarding Change in Director(s) of the company.
GLFL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board of Gujarat Lease Financing Limited met on May 6, 2025 and approved three items. First, audited results for Q4 and FY25 were cleared with an unmodified (clean) opinion from statutory auditor G.K. Choksi & Co. Second, Independent Director Raghuveer Parakh (DIN: 03546937), a Chartered Accountant and IIM Calcutta MBA with over 36 years of finance experience, was re-appointed for a second and final 5-year term from July 13, 2025 to July 12, 2030, subject to shareholder approval. Third, M/s. RPAP & Co., a peer-reviewed firm of Practising Company Secretaries based in Ahmedabad, was appointed as Secretarial Auditor for a 5-year term covering FY 2025-26 to FY 2029-30. For FY25, the company reported zero revenue from operations and Rs. 42.32 lakhs in other income. Net profit for the year was Rs. 5.86 lakhs versus Rs. 8.68 lakhs in FY24, with EPS of Rs. 0.02. The company has negative net worth of Rs. (406.14) lakhs and Rs. 1,000 lakhs in outstanding borrowings. Management has stated the company has no business plan and does not intend to undertake any business activity in the near future, so results have been prepared on a non-going concern basis.
GLFL is a non-operating shell company with zero business revenue, negative equity, and liabilities exceeding assets; shareholder value depends entirely on treasury income. The re-appointment of an experienced independent director and appointment of a new secretarial auditor are routine governance housekeeping and are unlikely to materially affect the stock price.