PFA the Non applicability letter
Awaiting price reaction for this filing.
Fourth Generation Information Systems Ltd has informed BSE that SEBI's Regulation 23(9), which mandates disclosure of related party transactions, does not apply to the company for the half year ended 31 March 2025. This exemption is because the company's paid-up equity share capital (Rs. 3.55 crore) is below the Rs. 10 crore threshold and its net worth is below the Rs. 25 crore threshold. The company's paid-up capital has remained flat at Rs. 3.55 crore across the last three financial years. Notably, the company's net worth is deeply negative at Rs. -1.39 crore as on 31 March 2025, having deteriorated sharply from Rs. -53.96 lakh in FY24 and Rs. -40.27 lakh in FY23, indicating growing accumulated losses.
This is a routine compliance filing confirming the company qualifies as a 'small listed entity' and is exempt from detailed related party transaction disclosures. However, the worsening negative net worth — liabilities now far exceed assets and the deficit has more than tripled in two years — is a red flag for shareholders about the company's financial health and solvency position.