Pursuant to the Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirement) Regulations, 2015, as amended, we hereby inform you that the ....
Awaiting price reaction for this filing.
Visesh Infotecnics Ltd held a board meeting on June 19, 2025, at its registered office in New Delhi from 4:00 PM to 4:55 PM. The board appointed Mr. Atul Srivastava (DIN: 07101375) as an Additional Director (Non-Executive and Non-Independent) with immediate effect, subject to shareholder approval at the next AGM. Mr. Srivastava has over 36 years of experience in management, administration, accounting, and finance, and holds no shares in the company. The board also took note of a Show Cause Notice dated June 10, 2025 from BSE proposing compulsory delisting of the company's securities. Trading in the stock has been suspended since May 13, 2024, and BSE says the company has not complied with SEBI LODR requirements to revoke the suspension. The company has 15 working days to respond to the delisting notice, failing which BSE will proceed under Chapter V of the SEBI Delisting Regulations, 2021.
This is a very serious development. If the company fails to respond or comply, compulsory delisting from BSE would force promoters to buy out public shareholders at a fair value determined by a valuer within 3 months, and the promoters, directors, and the company itself could be barred from the securities market for 10 years. The stock is already in trading suspension, so liquidity for shareholders is effectively frozen. The director appointment does not offset the regulatory risk posed by the pending delisting action.