Outcome of the Board Meeting held on 15th July 2025
Awaiting price reaction for this filing.
The Board approved unaudited Q1 FY2026 results showing the company has zero revenue from operations as it has not yet started any business activities. Total income was just Rs. 2 lakhs from other sources, while total expenses stood at Rs. 5.83 lakhs, resulting in a net loss of Rs. 3.83 lakhs. Critically, the company remains under liquidation proceedings initiated by NCLT in September 2022. The sale of the company as a going concern to Indo Aquatics Limited (assigned to Reddy Investments Private Limited) was approved by NCLT in July 2024, with the sale certificate issued in June 2023. The acquirer is still in the process of complete takeover including capital restructuring.
The stock is effectively a shell under liquidation with no operating business, zero revenue, and ongoing losses. Any trading in this stock carries extremely high risk given the liquidation status and pending restructuring. Shareholders should be aware that the going concern sale is still incomplete and the outcome of restructuring remains uncertain.