Revised Annual Report for FY 2024-25.
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Sparkle Gold Rock Limited (formerly Sree Jayalakshmi Autospin Limited) filed its revised Annual Report for FY 2024-25 along with the 34th AGM notice. The AGM is scheduled for September 30, 2025 via video conferencing. Key agenda items include adoption of audited financial statements, re-appointment of Mrs. Sarita Devi Sharma as Managing Director, and appointment of Megha Khandelwal and Associates as Secretarial Auditor for a five-year term (FY2025-26 through FY2029-30). The company is seeking shareholder approval for a material related party transaction with Sparkle Gold Mines Private Limited for purchase of bullion and precious metals, valued up to Rs 1,000 crore. Both directors Sarita Devi Sharma and Lakshita Sharma serve on the board of the related party entity. Statutory auditors are G.R. Gupta & Company.
Approval of material related party transactions up to Rs 1,000 crore signals a significant pivot or expansion into the bullion and precious metals business, but raises governance concerns as two directors sit on both boards. Shareholders should review whether these transactions are genuinely at arm's length and in the company's interest.