Please find the attached Intimation for approval of scheme for Reduction of share Capital under Section 66 in the Board meeting held on 01st August, 2025
Awaiting price reaction for this filing.
Cresanto Global Ltd's board, meeting on 1 August 2025, approved a draft scheme to reduce the company's share capital under Section 66 of the Companies Act, 2013. The move still needs approval from shareholders and the National Company Law Tribunal (NCLT) before it can take effect. The board also appointed M/s. Nidhi Bajaj & Associates as Secretarial Auditor for five years (FY26 to FY30) and Ms. Komal Bajaj as Internal Auditor for FY26. Material related party transactions worth up to ₹62.5 crore were cleared with five related-party entities (including Cresanto India Pvt Ltd at ₹20 crore and K8 Products LLP at ₹20 crore). The board also finalised the FY25 Board Report, fixed the 33rd AGM date, and set the book closure window for the AGM.
Share capital reduction is a significant corporate action — it can mean cancelling lost or unpaid capital, consolidating shares, or returning surplus cash, but it can also signal financial stress depending on the rationale. Investors should wait for the detailed scheme and NCLT order for clarity. The large related-party transactions (₹62.5 crore) warrant close scrutiny, as these are with entities controlled by common key management personnel.