Annual Report for the Financial Year 2024-25
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Pervasive Commodities Limited (formerly Starvox Electronics Limited) has submitted its 40th Annual Report for FY 2024-25 and notice of its AGM scheduled for September 30, 2025, to be held via video conferencing. The AGM includes ordinary business like adopting audited financial statements, re-appointing Managing Director Fagun Chandrakant Soni (who retires by rotation), and appointing V S S B & Associates as Statutory Auditor for a 5-year term (FY 2025-26 to 2029-30). Several special resolutions are on the agenda, notably seeking shareholder approval to borrow up to Rs. 500 Crores beyond paid-up capital and free reserves, to sell or dispose of the company's undertaking, and to give loans or investments up to Rs. 500 Crores. A new Secretarial Auditor (M/s. Dhruvi Patel & Associates) is also being appointed for 5 years. The substantial borrowing and asset disposal powers being sought are notable for what appears to be a small-cap company.
The Rs. 500 Crore borrowing limit and disposal-of-undertaking resolutions are unusually large relative to a small-cap firm and suggest the company may be planning major expansion, restructuring, or fundraising. Shareholders should review the audited financials carefully at the AGM before approving these sweeping financial authorities.