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Lykis Ltd's Board of Directors approved three key items in a meeting held on April 23, 2025. First, in-principle approval was given to begin disinvestment of the company's stake in two associate companies — Lykis Biscuits Pvt Ltd and Lykis Packaging Pvt Ltd. Second, Ms. Komal Birmiwala, a practicing Company Secretary, was appointed as the Secretarial Auditor. Third, the company approved the transfer of Investment Allowance Utilized Reserve amounting to Rs. 48,57,952 to General Reserves. The meeting lasted from 4:30 PM to 5:10 PM and was signed off by Managing Director Nadir Dhrolia.
The disinvestment of associate companies signals a strategic restructuring where Lykis may be exiting non-core businesses, which could bring in cash or simplify the group structure. The reserve transfer is a routine accounting reclassification with no material financial impact. No key management changes or governance red flags were reported.