Nupur Recyclers Limited has informed the Exchange regarding Corrigendum to Notice of Annual General Meeting to be held on September 29, 2025
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Nupur Recyclers has issued a corrigendum to its 7th AGM notice (scheduled for September 29, 2025) adding a previously omitted disclosure about a Corporate Guarantee of up to ₹50 Crores to its subsidiary Tycod Autotech Private Limited. The original notice only covered goods supply (₹100 Cr) and inter-corporate loan (₹50 Cr); Item No. 6 now seeks shareholder approval for all three transactions totalling up to ₹200 Crores in FY26 with Tycod. Tycod's FY25 financials show turnover of ₹2,453.83 Lacs but a loss of ₹72.61 Lacs and a negative net worth of ₹1,095.13 Lacs. Promoter/MD Rajesh Gupta is a director in Tycod, and Nupur Gupta holds 11% in Tycod, creating a clear conflict of interest. Notably, the guarantee carries no commission or fee for the company, there is no formal recovery mechanism if invoked, and Tycod has no credit rating.
The combined RPT is huge — up to 63% of consolidated turnover for the company and over 400% of Tycod's turnover for the loan/guarantee. With Tycod running losses and showing negative net worth, the absence of any fee or recovery clause on the guarantee exposes Nupur Recyclers' shareholders to significant downside risk if Tycod defaults. Retail investors should review this Item No. 6 carefully before the September 29 AGM vote.