Appointment of Company Secretary and Compliance Officer
Price
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Awaiting price reaction for this filing.
At a board meeting on May 27, 2025, USG Tech Solutions appointed Ms. Rolly Tiwari as the new Company Secretary and Compliance Officer, replacing Ms. Himanshi Rawat who resigned. The board also approved FY25 audited financial results with an unmodified auditor's opinion, appointed new Internal and Secretarial Auditors, and brought on two new Independent Directors (Ms. Anubha Chauhan and Mr. Ramanuj Murlinarayan Darak). Additionally, the board approved setting up a Green Hydrogen Plant and shifting the registered office within Hyderabad.
Mixed signals for shareholders — the Green Hydrogen Plant approval signals a new business direction, while the auditor flagged serious concerns including no external confirmations on ~₹1,098 lakhs of loans, ₹685 lakhs of trade receivables stuck for over 5 years, cash losses for two straight years (₹46.3 lakhs in FY25), and a going-concern uncertainty tied to an insolvency-linked lender. Short-term stock reaction likely muted pending clarity on the new venture.