Outcome of 36th AGM of K.S. Oils Limited for the FY 2021-22.
Awaiting price reaction for this filing.
K.S. Oils Limited held its 36th AGM on September 26, 2025 via video conferencing, with only 38 members attending and no shareholders registering as speakers. The meeting was a brief 15-minute affair that only tabled the adoption of audited standalone financial statements for FY 2021-22 as ordinary business. The company disclosed its troubled history: it was under the Corporate Insolvency Resolution Process (CIRP) from July 2017, ordered into liquidation by NCLAT in March 2021, and only recently had a newly constituted Board take charge on February 7, 2025, following an NCLT order dated February 3, 2025. The company has been acquired by Soy-Sar Edible Private Limited. Auditors issued disclaimer opinions citing material uncertainty about the company's ability to continue as a going concern due to financial stress and operational shutdowns.
This filing signals a struggling company in transition post-liquidation, with serious going-concern doubts flagged by auditors and very low shareholder engagement. Shareholders should be cautious — the stock remains listed but the business is in revival mode under new management, and resolution of FY 2021-22 financial statements is significantly delayed.