Visesh Infotecnics Limited has informed the Exchange regarding Board meeting held on Jun 19, 2025.
Awaiting price reaction for this filing.
Visesh Infotecnics Limited's board, which met on June 19, 2025, appointed Mr. Atul Srivastava (DIN: 07101375) as an Additional Director in a Non-Executive and Non-Independent capacity, subject to shareholder approval at the AGM. The board also took note of a Show Cause Notice (SCN) received from BSE on June 10, 2025, initiating the process of compulsory delisting of the company's securities. BSE noted that trading in the company's shares has been suspended since May 13, 2024 — over a year — due to unresolved non-compliances with SEBI LODR Regulations. The company has 15 working days to respond, failing which BSE will proceed with compulsory delisting under the Delisting Regulations, 2021. The appointed director, Mr. Srivastava, has 36 years of experience in management, accounting, and finance, holds no shares, and is not related to any existing director or KMP.
This is a deeply negative development for shareholders. BSE is moving toward compulsory delisting, which could leave investors holding illiquid shares. If delisting goes through, promoters will be forced to buy out public shareholders at a value determined by a valuer, but a 10-year market access ban would also hit the company and its directors. The new director appointment appears to be an attempt to strengthen governance, but it does little to offset the delisting risk. Shareholders should monitor the company's response to the SCN closely.