Appointment and resignation of Director
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The board appointed Ms. Sejal Dattaram Yerapale as a Non-Executive Non-Independent Director and accepted the resignation of Ms. Yukti Sneh Arya as Executive Director, effective April 24, 2025, citing pre-occupation. The board also approved raising funds via 0% convertible equity warrants on a preferential basis and increasing authorised share capital from ₹1.25 crore to ₹15 crore. It proposed changing the company name to New Markets Avenue Limited (or Opportunity Limited) and vastly expanded the object clause to cover trading and manufacturing of chemicals, textiles, gems, jewellery, timber, electronics and more. Audited FY25 results show revenue of ₹20.90 lakh (vs ₹2.98 lakh in FY24) and a profit after tax of ₹1.64 lakh (vs a loss of ₹12.84 lakh). The board also sought shareholder approval to raise borrowing and investment limits under Sections 180(1)(c) and 186 up to ₹50 crore each.
Existing shareholders should brace for potential equity dilution from the preferential warrants and closely review the rationale for a sweeping change in business objects and name. The FY25 turnaround from loss to profit is encouraging but revenue base remains very small, and the resignation of the Executive Director adds to governance uncertainty.