Outcome of the Board Meeting held today i.e., 19.06.2025-Appointmentof Mr. Atul Srivastava as a Additional Director (Non-Executive and Non-Independent) on the Board of the Company with ....
Awaiting price reaction for this filing.
The Board appointed Mr. Atul Srivastava (DIN: 07101375) as Additional Director (Non-Executive and Non-Independent) with immediate effect, subject to shareholder approval at the AGM. Mr. Srivastava has over 36 years of experience in management, administration, bookkeeping, accounting and finance and is not related to any existing director or KMP. In a far more consequential development, the Board also noted a Show Cause Notice dated June 10, 2025 from BSE proposing compulsory delisting of the company's securities. BSE has flagged that trading in the company's shares has been suspended since May 13, 2024 — more than 6 months — and the company has neither responded to prior exchange communications nor rectified its SEBI LODR non-compliances. The company has 15 working days to show cause why its securities should not be compulsorily delisted under the SEBI Delisting Regulations, 2021. If delisted, promoters must buy out public shareholders at fair value within 3 months and key managerial persons face a 10-year bar from the securities market.
This is a high-risk, negative filing for shareholders. The compulsory delisting threat is the dominant issue — shareholders may lose the ability to trade on the exchange and could become dependent on a promoter buyout at a value determined by an independent valuer. The director appointment is a routine governance event and is secondary to the delisting overhang. The stock is already suspended from trading, so immediate price impact is muted, but the outcome of the SCN response will be decisive for shareholders' exit prospects.