Name change to Cosmic Energy & Motors, pivot to EV business, capital hike
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Board of Shashank Traders approved major restructuring: name change to Cosmic Energy & Motors Limited, authorized share capital to rise from Rs 3.5 crore to Rs 50 crore, and pivot from general trading to electric vehicles, batteries, and auto components. Also seeks shareholder nod to raise borrowing and investment limits to Rs 500 crore each. New MOA and AOA adopted under Companies Act 2013. New auditor G K Tulsyan & Co appointed replacing Nemani Garg Agarwal. EGM on July 30, 2026.
Major business pivot to EV sector, significant capital and borrowing expansion. Subject to shareholder approval at EGM on July 30, 2026.