AAA Technologies Ltd

MOU and SPV structure for Educomp CIRP

• MOU signed Aug 13, 2026 with Deep Mehta as trustee for Aikyam Fund I.
• Collaboration to submit and implement a resolution plan via SPV for Educomp CIRP.
• SPV initial holdings: 51% by Aikyam, 49% by AAA Technologies.
• Remaining 51% of SPV to be transferred to AAA after one year.
• Aggregate bid-security amount of 27,25,00,000; not the acquisition price.
• Aikyam fund deposited 1.25 crore; AAA remitted 6 crore as earnest money.
• Final acquisition cost and SPV funding commitments not yet determined.
• Subject to CIRP approvals (CoC, NCLT) and regulatory clearances; timeline undetermined.
• No related-party transaction; governance rights to be defined in definitive documents.
• SPV to be incorporated in India; AAA to initially hold 49%.

Financial results

• Unaudited quarterly results for quarter ended 30 June 2026 approved.
• Unbilled revenue recognized at 30 June 2026: Rs 299.29 lakhs.
• Results reviewed by Audit Committee and approved by Board; Limited Review conducted.

Control change and promoter reclassification

• SPA dated 29 December 2025 completed; Open Offer completed; change in control.
• Acquirers Jyotirgamya Advisory Pvt Ltd and Ashok Kumar Chordia promoted; existing Promoters cease to be Promoters.
• Total post-transaction Promoter shareholding: 34.78%.
• Four other promoters sold shares in 2025-26; hold no equity.

Accounting and auditor notes

• Auditor's Emphasis of Matter on accounting policy changes and gratuity restatement.
• Policy: revenue recognition changed from GST-inclusive to net of GST from 1 Apr 2026.
• Comparatives restated for gratuity provision; Ind AS 19 and related deferred tax impacts.

Governance and regulatory disclosures

• Change in Authorized Signatories for Income Tax, GST, MCA, NSE, and other regulators.

Resolution 1: Chordia appointment

• Type: Ordinary; appoint Ashok Kumar Chordia as Additional Director (Non-Executive, Non-Independent) effective 19 Jun 2026.
• Term: liable to retire by rotation; profile: Chartered Accountant with corporate advisory experience.
• Outcome: Approved; 4,411,507 in favour, 10 against (99.99%/0.01%).

Resolution 2: Pandey appointment as Executive Director

• Type: Special; appoint Santosh Kumar Pandey as Additional Director and Whole-time Director (Executive) for 5 years.
• Term: 19 Jun 2026 to 18 Jun 2031; remuneration within limits per law.
• Profile: 26-year veteran; founder of GPS/IoT solutions; governance and growth expertise.
• Outcome: Approved; 4,411,507 in favour, 10 against (99.99%).