This is to inform you that the Board of Directors of the Company at their meeting held on Tuesday, April 07, 2026 vide Video-Conferencing or other Audio-visual means ('OAVM') have inter-alia ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The board held on April 7, 2026 approved sweeping changes: one Whole-time Director (Paras Chand Jain) and four new Independent Directors were appointed, while three sitting Independent Directors resigned on the same day, all citing 'continuous non-compliance, lack of transparency, failure of management to respond, and ongoing legal exposure without adequate support.' Mr. Rahul Bhargav stepped down as CFO (he remains Managing Director) and Mr. Sanyog Kumar Rathi was appointed as the new CFO; a new Company Secretary, Mr. Kapil Vinod Garg, was also named. The board approved entering a termsheet for a takeover of ICM Insurance Brokers Private Limited, while a proposal to raise funds via equity was deferred. Q3 FY26 standalone results showed a loss of Rs. 12.41 lakh versus a loss of Rs. 62.08 lakh in Q2, but 9M FY26 revenue collapsed to Rs. 166.40 lakh from Rs. 1,324.05 lakh a year ago, with auditor NYS & Company flagging inactive GST registration and sundry balances pending confirmation.
Shareholders should note serious governance red flags — three independent directors quit simultaneously citing transparency and compliance failures, and BSE fines were also acknowledged (company plans to seek waiver). At the same time, a major board overhaul and a proposed insurance brokerage takeover signal a strategic pivot, though weak financials and negative reserves of Rs. 1,378.88 lakh keep risk elevated.