Major overhaul: name change to Cosmic Energy & Motors, shift to EV business, new auditor
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Shashank Traders board approved multiple major changes. Company will be renamed Cosmic Energy & Motors Limited and pivot from general trading to electric vehicles, batteries, charging stations and auto components. Authorized share capital will rise from Rs 3.5 crore to Rs 50 crore. M/s G K Tulsyan & Co appointed as new statutory auditor to fill the casual vacancy caused by resignation of M/s Nemani Garg Agarwal & Co. Board also seeks approval to raise borrowing and investment limits to Rs 500 crore each. EGM on July 30, 2026.
Full business pivot to EVs with name change and capital restructuring. Shareholders vote on July 30 on major transformation plan.