In continuation of our Intimation dated July 14, 2025, we wish to inform you that the Board of Directors of the Company at their meeting held today i.e., Thursday, 17th July, 2025, interalia ....
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Awaiting price reaction for this filing.
The Board approved unaudited financial results for Q1 FY26 (quarter ended June 30, 2025), showing zero revenue from operations and a loss of ₹10.91 lakhs, slightly better than the ₹11.92 lakh loss in the same quarter last year. Total revenue came only from other income of ₹6.23 lakhs. The Board also appointed M/s. Shanmugam Rajendran & Associates LLP as Secretarial Auditor for five years (FY26–FY30) and scheduled the 34th AGM for September 10, 2025. Critically, the auditor's review highlighted that RBI cancelled the company's housing finance registration in September 2023, the Board stopped all HFI/NBFC operations, and has already in-principle consented to wind up the company subject to approvals. Reserves remain deeply negative at ₹(13,087.43) lakhs.
This is essentially a company in wind-down mode with no operating business, ongoing losses, and massively negative reserves. Shareholders should treat this as a high-risk situation where the eventual outcome (winding up) could mean little to no recovery, though Indian Bank as the parent subsidiary holder may influence the process.