Pursuant to Regulation 30 and Regulation 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached herewith the 9th Annual Report of the Company ....
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Space Incubatrics Technologies Ltd has filed its 9th Annual Report for FY 2024-25 along with the notice for its 9th Annual General Meeting, scheduled for Saturday, 6th September 2025 at 12:30 PM at the registered office in Muradnagar, Ghaziabad. The AGM notice includes several special resolutions requiring shareholder approval: sale of company land/building (288.87 sq. mtr. at Pawan Puri, Muradnagar) to Managing Director Nishant Mittal or related party Suman Mittal at fair market value of approximately Rs. 35.60 lakhs (book value ~Rs. 27 lakhs); sale of two motor vehicles (KIA Seltos and Hyundai Alcazar) to Director Mahesh Chand Mittal or related party Suman Mittal at book value of approximately Rs. 16.40 lakhs; approval of a material related party transaction worth Rs. 10 crore; and authority to make investments, loans and guarantees up to Rs. 40 crore. The company had nil turnover in the immediately preceding financial year. E-voting will be open from 3rd September to 5th September 2025, with cut-off date of 30th August 2025.
The filing itself is a routine regulatory submission, but the resolutions reveal the company is selling its key physical assets (land/building and vehicles) to its directors and their relatives as related party transactions. Combined with nil turnover in the prior year, this raises concerns about the company's operational status and the direction of asset transfers to promoter-related parties. Shareholders should carefully evaluate these resolutions before voting.