Pursuant to Regulation 30 and other applicable Regulations of SEBI (LODR) Regulations, 2015, this is to inform you that the Board of Directors of the Company at its meeting held on Friday, ....
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 Directors of Jhandewalas Foods Ltd met on May 16, 2025 and approved the standalone audited financial results for FY ended March 31, 2025, along with unaudited results for H2 FY25. The Board also took note of the resignation of Independent Director Mr. Manan Jain (DIN: 08765552) effective May 16, 2025, and the appointment of Mrs. Shipra Gandhi as Company Secretary & Compliance Officer (Key Managerial Personnel). The auditor issued a Qualified Opinion with serious red flags: Section 185 violation involving loans of Rs. 393.19 lakhs to relatives of directors without special resolution, immovable properties of Rs. 5.76 crores (out of Rs. 5.92 crores) held in the names of directors/promoters rather than the company, and prolonged loan defaults (Axis Bank ~Rs. 4.53 crores, DHFL, and ACME Resources) with related recovery suits and NPA classification issues.
This filing raises major governance and financial concerns for shareholders. The Section 185 violations, properties not held in the company's name, and multi-year loan defaults suggest weak internal controls and potential diversion of funds. Investors should view this stock with high caution — the qualified audit opinion and governance lapses could weigh on valuation and invite regulatory scrutiny.