Outcome of 31st Annual General Meeting of the Company held on September 11, 2025 at 11.00 A.M. through Video Conferencing
Awaiting price reaction for this filing.
K S Oils Limited held its 31st AGM on September 11, 2025 via video conferencing, with 59 members attending. The meeting was adjourned for 30 minutes initially due to lack of quorum before resuming. Only two ordinary resolutions were transacted — adoption of audited standalone and consolidated financial statements for FY ending March 31, 2017, which are significantly delayed. The company shared that it went through Corporate Insolvency Resolution Process (CIRP) starting July 2017, was ordered into liquidation by NCLAT in March 2021, and a newly constituted Board took charge in February 2025 after acquisition by Soy-Sar Edible Private Limited. Auditors have raised qualified opinions and flagged material uncertainty on the company's ability to continue as a going concern due to past defaults and operational shutdowns. E-voting results are awaited within two working days.
Shareholders should note the deeply delayed FY2017 financials, the company's history of insolvency and liquidation, and the going concern uncertainty flagged by auditors. The new management's revival efforts and acquisition by Soy-Sar Edible may signal a turnaround attempt, but significant risks remain for existing shareholders.