Cessation of Executive director
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Awaiting price reaction for this filing.
The Board accepted the resignation of Ms. Yukti Sneh Arya as Executive Director effective 24 April 2025, citing pre-occupation, and appointed Ms. Sejal Dattaram Yerapale as a Non-Executive Non-Independent Director for two years. The Board approved raising funds via 0% convertible equity warrants on a preferential basis and proposed increasing the authorised share capital from ₹1.25 crore to ₹15 crore. It also proposed changing the company name to either New Markets Avenue Limited or New Markets Opportunity Limited, expanding the object clause to cover trading in a wide range of goods (textiles, gems, chemicals, etc.), and hiking borrowing and investment limits under Sections 180(1)(c) and 186 up to ₹50 crore each. For FY25, the company reported revenue of ₹20.90 lakh (vs ₹1.15 lakh in FY24) and a profit after tax of ₹1.64 lakh (vs a loss of ₹12.84 lakh), with EPS of ₹0.13. Statutory auditors Suvarna & Katdare issued an unmodified opinion on the financials.
The resignation of the Executive Director is a key management change that may briefly unsettle investors, but the broader agenda signals a significant business pivot — the proposed name change, expanded object clause, and preferential warrant issue suggest the company is preparing for a major change in business direction and possible equity dilution. Shareholders should watch the upcoming general meeting for final approvals on the fund raise and name change.