Outcome of 35th Annual General Meeting of K.S. Oils Limited of Financial year 2020 - 2021.
Awaiting price reaction for this filing.
K.S. Oils Limited held its 35th Annual General Meeting on September 26, 2025 via video conferencing, with only 37 members attending. The AGM covered financial year 2020-21, which is delayed by over four years. Two ordinary resolutions were tabled: adoption of audited standalone financial statements for FY ended March 31, 2021, and appointment of the statutory auditor. The company was admitted to Corporate Insolvency Resolution Process (CIRP) in 2017 and ordered into liquidation by NCLAT in March 2021. A new Board took charge on February 7, 2025 after an NCLT order, following acquisition by Soy-Sar Edible Private Limited. Auditors flagged disclaimer of opinion and material uncertainty on the company's ability to continue as a going concern due to financial stress and operational shutdowns. No shareholders registered as speakers, and e-voting results are awaited within two working days.
Shareholders should note this AGM covers FY2020-21 financials filed after a multi-year delay due to the company's insolvency and liquidation history. The new management is attempting revival under Soy-Sar Edible, but the auditor's going-concern warning signals ongoing financial risk. Voting outcomes on financial statements and auditor appointment will determine next steps for this distressed stock.