Submission of Statement of Deviation and Variation of Proceed of Public Issue
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Riddhi Corporate Services has filed a compliance report confirming the full utilization of funds raised through a Preferential Issue. The company had raised Rs. 7.03 crore on January 24, 2023, earmarked for General Corporate Use. As of February 27, 2026, the entire amount of Rs. 703.56 lakhs has been utilized with no deviation or variation from the originally stated purpose. The Audit Committee has reviewed the report and confirmed there is no deviation in the use of issue proceeds. No monitoring agency was applicable for this issue, and shareholder approval for any change in purpose was not required as no change occurred.
This is a routine regulatory filing and a positive compliance signal for shareholders. It confirms that the company used the Rs. 7.03 crore raised in 2023 exactly as disclosed, with no misuse or diversion of funds, which supports management credibility.