Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015-Reconstitution of Committees of the Company.
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Shashank Traders Ltd's board, at its May 30, 2026 meeting, approved audited FY26 (ended March 31, 2026) results showing a net loss of about Rs. 62 lakh, wider than the Rs. 13 lakh loss in FY25, with operating revenue falling to nearly zero. The auditor issued an unmodified opinion but flagged serious issues: no business revenue for a long time, both bank accounts inoperative, and all business receipts and payments routed through the Managing Director's personal loan account. The filing confirms a major change of management — Managing Director Praveen Jaswant Rai Jain, CFO Nipun Praveen Jain, and Company Secretary Renu Lahoti all resigned on May 30, 2026 due to a change in management and control of the company. Replacements include Mr. Om Prakash Lohia as new CFO, Ms. Biswashree Pati as Company Secretary & Compliance Officer, Mr. Pranay Ganeriwala as Chief Experience Officer (CXO), and Mr. Pramod Kumar Shah (a Chartered Accountant with 45 years of experience) as Additional Independent Director for a five-year term. The board also approved a proposal to change the company's name, set up a new corporate office in Kolkata, and reconstituted all board committees with the new directors.
This is effectively a change-of-control event with nearly the entire top leadership and key managerial team exiting at once, suggesting the old promoter group has stepped aside and a new management group is taking over. For shareholders, the near-zero operating revenue, dormant bank accounts, and dependence on the ex-MD's personal loan account for transactions are serious red flags about the business's viability, so the next few quarters will be critical to see if the new leadership can restart genuine operations.