SPCL annual general meering held on 30/09/2025. copy of the annual report attached.
Awaiting price reaction for this filing.
Suryachakra Power Corporation Limited filed its 30th annual report for FY 2024-25 along with the AGM notice. The company reported zero revenue from operations and a net loss of Rs. 7.90 lakh, narrowing significantly from a Rs. 1.81 crore loss in the previous year. The company is a corporate debtor that went through CIRP and was ordered into liquidation by NCLT, later sold as a going concern to Indo Aquatics Limited, which subsequently assigned the ownership to Reddy Investments Pvt Ltd. As a result, the entire prior promoter equity was extinguished and the new promoter now holds 100% of the restructured share capital (19,40,000 equity shares). Trading in the stock has been suspended since February 27, 2023, and the new management is seeking revocation of the suspension. AGM resolutions include re-appointment of directors, appointment of Mr. Sreegiri Venkata Rama Murthy as Managing Director for 5 years (salary up to Rs. 50,000 per annum), and approval to raise borrowing and investment limits up to Rs. 500 crores each.
For shareholders, the key developments are the change in controlling ownership following the IBC-driven acquisition, continued loss-making operations with no revenue, and the company's request to lift the long-standing trading suspension which could revive liquidity in the stock. The proposed increase in borrowing and investment limits up to Rs. 500 crores signals potential expansion or capital restructuring plans by the new management.