Appointment of Internal Auditor, Approval of OD Limit and Adoption of Monitoring Agency Report
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SSMD Agrotech India's board met on 14th February 2026 and approved multiple items in a single sitting. The existing Internal Auditor, Mr. Rajmani Thakur, resigned with effect from 10th February 2026, and Ms. Nancy Jain (Practicing Chartered Accountant) was appointed as the new Internal Auditor for FY 2025–26. Managing Director Mr. Ishu Munjal was authorized to sign an MOU with DEMETER COMMODITIES SL to expand into the Oil Sector. To fund this expansion, the board approved an Overdraft (OD) facility of up to ₹5 Crore from a bank or financial institution. Additionally, the board adopted the Monitoring Agency Report for the quarter ended 31st December 2025 on the use of funds previously raised by the company.
The key takeaway for shareholders is the company's push into the Oil Sector via an MOU with DEMETER COMMODITIES, backed by a ₹5 Crore overdraft facility, signalling expansion plans. The internal auditor change is routine, but the simultaneous fund-raising and monitoring report adoption suggest the company is actively deploying capital and should be watched for execution updates.