Outcome of Board Meeting held on October 13, 2025 Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Awaiting price reaction for this filing.
The Board of Unistar Multimedia held a meeting on October 13, 2025 and addressed several key matters. Quarterly financial results for the period ended September 30, 2025 were postponed to the next board meeting because the Chief Financial Officer was unavailable due to health reasons. The Board approved the incorporation of a wholly-owned subsidiary named 'Arzani India Private Limited' to expand the Company's Data Center business. The Board acknowledged pending compliance gaps with the Registrar of Companies (ROC) and Stock Exchange and appointed professionals to resolve them. A significant governance issue was flagged: three individuals had been appointed as Directors without authorization, and the Company has filed a complaint with the ROC seeking their removal. The Board approved forfeiture of shares belonging to entities that failed to deliver agreed consideration despite reminders. Leadership changes include the appointment of Mr. Abhishek Pratapkumar Thakkar as Chairman and Managing Director, while Ms. Alka Rajendra Mehta and Mr. Dhaval Patel resigned as Directors.
Investors may view this announcement with caution due to delayed quarterly results, unresolved ROC compliance issues, and an unauthorized director appointment episode, all of which raise corporate governance concerns. The new Data Center subsidiary is a positive diversification move, but the absence of financial results and ongoing governance overhang could weigh on the stock in the near term.