Outcome of Board Meeting under Regulation 30 of SEBI(LODR) Regulations, 2015
Awaiting price reaction for this filing.
The Board appointed Anand and Anand Associates to handle ongoing trademark and IP litigation, and reviewed the status of the 'AL Kamdhenu Gold' trademark case. Management provided updates on the strategic partnership with Legend Group, including operational integration progress. The proposal to appoint Mr. Tarun Jain as Additional Director was withdrawn at his own request. The Board also discussed a proposal to shift the Corporate Office from Pitampura to Ansal Plaza, Khelgaon. Importantly, the Board noted that multiple banks—SBI, Yes Bank, and Kotak Mahindra Bank—have classified the company's accounts as Non-Performing Assets (NPA), and ongoing discussions are underway for loan restructuring or settlement. Audited financial results for Q4 FY25 and the full year ended March 2025 remain pending and have been deferred to the next board meeting.
This is a significant negative signal for shareholders—the NPA classification by three major lenders indicates serious debt stress and raises concerns about the company's financial health and ability to service obligations. The unusual delay in approving full-year audited results, combined with the two-and-a-half-day board meeting, suggests unresolved issues. Short-term share price may face downward pressure due to NPA concerns and ambiguity around FY25 results.