In reference to our letter dated 27th May, 2026, pursuant to which we have informed about the Outcome of Board Meeting held today Wednesday, 27th May, 2026, there was an inadvertent typographical ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Virtual Global Education filed a correction to its May 27, 2026 Board Meeting outcome, fixing a typo in the appointment date of Ms. Payal Sharma. The Board approved FY26 audited financial results (standalone and consolidated), showing consolidated revenue of Rs 58.54 lakhs (down from Rs 105.67 lakhs in FY25) and a net loss of Rs 33.84 lakhs (slightly improved from Rs 38.53 lakhs loss in FY25). Three new directors were appointed: Mr. Prem Gupta as Whole-Time Director, and Mrs. Payal Sharma and Mr. Rohan Agarwal as Non-Executive Independent Directors. M/s Chandni Singla & Associates was appointed as Internal Auditor for FY27. The auditor issued a modified/qualified opinion flagging serious issues: Rs 88.18 lakhs misappropriated by former CFO/Director Mr. Ankit Sharma (unrecovered), Rs 5.32 crores in unsupported land advance at Gurugram, Rs 20.19 crores in undocumented loans and advances, and Rs 6.35 crores in training expenses with no supporting documents.
Negative for shareholders — the company continues to report losses, the auditor flagged a material fraud by the former CFO that remains unrecovered, and multiple large transactions lack supporting documentation, raising serious governance and internal control concerns. The qualified audit opinion and weak financials may weigh on the stock, though new board appointments and the Rs 10.69 crore received from warrant conversions provide some operational signal.