Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015- Setting up of Corporate Office of the Company.
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Shashank Traders Ltd announced outcomes of its May 30, 2026 board meeting covering several key items. The company posted a net loss of Rs. 22.39 lakh for FY26 (vs Rs. 3.49 lakh loss in FY25), with revenue from operations being NIL for the year (only Rs. 41.97 lakh of other income in Q4). The auditor issued an unmodified opinion but flagged serious Emphasis of Matter issues: two bank accounts are inoperative, all business receipts and payments are routed through the ex-Managing Director's personal loan account, no business revenue has been generated for a long time, and Rs. 241.40 lakh of investments are recorded at cost without fair valuation. The company underwent a complete management changeover: Chairman-cum-Managing Director Praveen Jain, CFO Nipun Jain, and Company Secretary Renu Lahoti all resigned, with new CFO Om Prakash Lohia, CS Biswashree Pati, and CXO Pranay Ganeriwala appointed effective June 1, 2026. The board also proposed changing the company's name and set up a new corporate office at Cosmic Tower, Kolkata.
The combination of nil operating revenue, widening losses, negative other equity (Rs. 115 lakh), and operations being routed entirely through the ex-promoter's personal account raises serious going-concern and corporate governance red flags for shareholders. The complete management changeover—described as a 'change in management and control'—suggests a takeover or restructuring event, which could materially reshape the company's direction but also introduces uncertainty.