Notice of 9th AGM to be held on September 6, 2025 at the registered office of the Compaby at Pawan Puri, Muradnagar
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Space Incubatrics Technologies Ltd has called its 9th AGM on Saturday, September 6, 2025 at 12:30 PM at its registered office in Pawan Puri, Muradnagar, Ghaziabad. Ordinary business includes adopting the audited financial statements for FY ended March 31, 2025 and re-appointing Mr. Nishant Mittal (DIN: 02766556), who retires by rotation. Special business proposes selling the company's registered office land/building (288.87 sq. mtr., book value ~Rs. 27 lakhs, fair market value ~Rs. 35.60 lakhs) to Managing Director Mr. Nishant Mittal or related party Mrs. Suman Mittal. It also proposes selling two company cars (Kia Seltos and Hyundai Alcazar, book value ~Rs. 16.40 lakhs) to Director Mr. Mahesh Chand Mittal or related party Mrs. Suman Mittal. Further, the company seeks approval for material related party transactions up to Rs. 10 crore, authority to make investments/loans/guarantees up to Rs. 40 crore under Section 186, and general authorization under Section 180(1)(a) to sell, lease or dispose of the company's undertakings. The company disclosed nil turnover in the immediately preceding financial year.
With nil reported turnover, the company appears to be largely inactive operationally, and the resolutions are dominated by asset sales and related party transactions involving the promoter family. While related parties will abstain from voting on these resolutions, retail shareholders should carefully evaluate the pricing of these related party deals and the rationale for asset divestments before approving them.