Appointment of Mr. Mahir Bhadani (DIN: 10622919) as a Non-Executive Non-Independent Director of the Company.
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Newtime Infrastructure's board, at its meeting on 14 November 2025, approved multiple items. Mr. Sanjay Sharma resigned as Independent Director, and Mr. Mahir Bhadani (aged 26, B.Com graduate) was appointed as an Additional Non-Executive Independent Director for a 5-year term (subject to shareholder approval). The Audit, Nomination & Remuneration, and Stakeholders' Relationship committees were reconstituted with Mr. Bhadani as the new Audit Committee Chairman. The board also approved unaudited Q2/H1 FY26 results: consolidated revenue from operations fell sharply to Rs. 222.83 lakh (vs Rs. 397.63 lakh in H1 FY25), while net loss narrowed to Rs. 134.33 lakh (vs Rs. 184.43 lakh). The auditor's review report flagged an ongoing Enforcement Directorate provisional attachment order on group properties/promoter shares (Sept 2024) and a going-concern uncertainty for subsidiary Aertha Luxury Homes (accumulated losses of Rs. 182.29 lakh).
Routine board-level reshuffle with an Independent Director exit-and-replacement, but the underlying business remains weak: revenue halved year-on-year, reserves are deeply negative (Rs. -3,626 lakh consolidated), and the ED attachment overhang plus subsidiary going-concern flag pose continued risk for shareholders.