Pursuant to Regulation 30 read with Schedule III of SEBI (LODR) Regulations, 2015, please find attached outcome of Board Meeting held today, i.e. Tuesday, 17th February, 2026.
Awaiting price reaction for this filing.
The board approved shifting the registered office from Powai to C-801, Neelkanth Business Park, Vidyavihar (West), Mumbai. Mr. Bharat Shah, a 67-year-old company veteran with over 47 years of experience in legal, taxation, and finance, has been appointed as Chief Financial Officer and Key Managerial Personnel effective the same day. New Secretarial Auditor (M/s. AVS & Associates for FY 2024-25 and 2025-26) and Internal Auditor (M/s. Jimit Kamdar & Associates for FY 2025-26 and 2026-27) have also been appointed. The company accepted consent terms and filed for cancellation of a sale certificate in the Debt Recovery Tribunal (DRT). The board also indicated it is exploring both organic and inorganic growth opportunities and is looking for potential investors to recapitalise the company.
Multiple governance changes (new CFO, new auditors, office shift) and an ongoing DRT resolution suggest the company is in a restructuring phase. The stated search for investors for recapitalisation hints at a possible fundraising or equity dilution event, which existing shareholders should watch closely.