Please find the attached Outcome of Board Meeting
Awaiting price reaction for this filing.
The board of Cresanto Global Ltd (formerly Raymed Labs) approved a draft scheme for reduction of share capital under Section 66 of the Companies Act, 2013, subject to shareholder and NCLT approval. The board also appointed M/s. Nidhi Bajaj & Associates as Secretarial Auditor for five years (FY 2025-26 to FY 2029-30) and Ms. Komal Bajaj as Internal Auditor for FY 2025-26. Material related party transactions worth up to ₹62 crore in aggregate were approved with five entities controlled by common Key Management Personnel (Cresanto India Pvt Ltd – ₹20 Cr, K8 Products LLP – ₹20 Cr, Tidagela Ventures – ₹7.5 Cr, KVK Packaging LLP – ₹7.5 Cr, Koriander Consultants LLP – ₹7.5 Cr) valid until the FY 2026-27 AGM. The board also approved the FY 2024-25 Board's Report, fixed the date/venue for the 33rd AGM, and set the book closure date.
The share capital reduction proposal is a notable corporate action that could alter the equity base pending shareholder and NCLT approval — shareholders should watch for the rationale (e.g., writing off losses or cancelling shares). The large related party transactions (₹62 Cr combined) with promoter-group entities may attract governance scrutiny, though they are described as at arm's length in the ordinary course of business.