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Sikozy Realtors Ltd held its 33rd Annual General Meeting on September 30, 2025, at its registered office in Karjat, Raigad, with 32 members present in person. Four ordinary resolutions were passed with near-unanimous shareholder support (99.99% to 100% in favor): adoption of FY25 audited financial statements (12,339,814 votes in favor), re-appointment of Mr. Jigar Desai as a Director, and appointment of Mr. Rishabh Gupta (DIN: 11010502) as a Director and as Managing Director for a 3-year term effective March 29, 2025. The Chairman disclosed that the Statutory Auditor's Report had flagged losses in the company and resultant networth erosion, with management responses detailed in the Directors' Report. Voting was conducted via remote e-voting (Bigshare Services) and physical ballot at the venue, with Mr. Umashankar Hegde acting as Scrutinizer.
The auditor's flagging of networth erosion and ongoing losses is a negative signal for shareholders, though all resolutions sailed through with overwhelming support. The appointment of a new Managing Director (Mr. Rishabh Gupta) for three years suggests a leadership change likely aimed at turning around the company's financial position.