Notice of 32nd Annual General Meeting
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Visagar Financial Services Limited has sent out the notice for its 32nd Annual General Meeting scheduled for Tuesday, September 30, 2025 at 1:00 PM at Vyanjan Banquet Hall, Andheri West, Mumbai, along with the Annual Report for FY 2024-25. The agenda includes adopting audited financial statements, re-appointing Mr. Tilokchand Kothari (who retires by rotation), approving material related party transactions of up to Rs. 25 crore per related party for FY 2025-26 with eight group entities, appointing M/s. Kirti Sharma & Associates as Secretarial Auditor for five years (FY 2025-26 to 2029-30), and regularising Mr. Vikasjeet Singh as a Non-Executive, Non-Independent Director. For FY 2024-25, the company reported revenue of Rs. 12,956.73 lakhs (down sharply from Rs. 33,421.17 lakhs in FY 2023-24) and a net loss of Rs. 16.07 lakhs, a significant improvement over the previous year's loss of Rs. 115.94 lakhs.
For shareholders: the sharp revenue decline and continuing losses signal business pressure, though the narrowing loss is a modest positive. The proposed large related-party transaction limit (Rs. 25 crore per party) and related parties not being allowed to vote on that resolution are governance points to watch.