In compliance with Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that the Board of Directors ....
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▲ 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 IndiaNivesh Ltd approved the sale of its 100% stake in wholly owned subsidiary Indianivesh Securities Limited, subject to shareholder approval at the next AGM. The subsidiary had Nil revenue contribution and a net worth of just INR 155.51 Lakhs in the last financial year; sale terms and buyer identity are yet to be finalized. Separately, statutory auditor M/s. C A S & Co. resigned citing pre-occupation and disagreement over audit fees, and M/s. Ajay Sobha & Co. was appointed to fill the casual vacancy. The board also approved the re-appointment of Mr. Jagdish Pareek as Independent Director for a second 5-year term (up to September 2030) and recommended regularization of Ms. Jeny Vinod Kumar Gowadia as Independent Director for 5 years (up to May 2030), both pending shareholder approval.
The subsidiary sale is financially immaterial since Indianivesh Securities contributed no revenue, so the impact on the stock is likely neutral. The auditor switch driven by fee disagreement is a minor governance red flag, while the director changes are routine and unlikely to move the share price.