Ind Agiv Commerce Ltd

AGM details

• AGM held on 30 September 2026 at 11:30 IST via VC/OAVM.
• Record date was 23 September 2026.

Key resolutions

• Ordinary resolution: adoption of standalone and consolidated financial statements.
• Ordinary resolution: re-appointment by rotation of director.

Voting results

• Adoption resolution passed with near-unanimous support; minimal dissent.
• Rotation resolution passed with near-unanimous support; minimal dissent.

Dividend

• Dividend: no proposal or declaration.

Director changes

• Rotation-based director re-appointment approved.

AGM Details

• Date/time/mode: 30 Sep 2026, 11:30 AM, via VC/OAVM.
• No physical attendance; conducted under VC/OAVM guidelines.
• E-voting from Sep 27 09:00 to Sep 29 17:00; 15-minute post window.
• AGM concluded at 12:25 PM.

Key Resolutions

• Adoption of audited standalone and consolidated financial statements for FY ended 31 March 2026.
• Re-appointment of Mr. Lalit Singh Chouhan (retiring by rotation).

Voting Results

• Adoption of financial statements: outcome not disclosed.
• Director re-appointment: outcome not disclosed.

Director Changes

• Re-appointment of Mr. Lalit Singh Chouhan; rotation.

Financials & revision

• Revised standalone and consolidated results for quarter ended 30 Jun 2026; no change to prior figures.
• Auditors issued limited review with qualification due to ERP lacking audit trail and record-keeping.

Overdues & debt restructuring

• Total overdue borrowings from NBFCs amount to INR 83.54 million.
• Redfort Capital Finance Co I: principal 2,56,65,894; total 4,37,97,233; matter under court.
• Redfort Capital Finance Co II: principal 1,74,05,816; total 3,39,56,555; matter under court.
• Bajaj Fin Serve: principal 1,56,603; total 17,67,041; under restructuring.
• Clix Capital: principal 1,60,379; total 13,49,374; under restructuring.
• Neo Growth: principal 3,20,641; total 12,58,165; under restructuring.
• Insta Capital: principal 7,06,451; total 14,12,902; under restructuring.

Emphasis & interim results

• Emphasis: restructure resources to align with overdue statutory and NBFC dues.
• Finalize EPP project and accounting software integration.
• One subsidiary's interim results unaudited; assets ₹2.43 Lakh; net loss ₹0.29 Lakh.

Audit opinions

• Standalone and Consolidated unaudited results for June 2026 reviewed; true and fair view stated.
• Basis for qualification: ERP audit trail missing; records maintained partly manually/Excel.

Business overview

• Company: Ind Agiv Commerce Ltd; offers multiple Advanced Audio-Visual Solutions.

Ind Agiv Commerce Ltd – Closure of Trading Window from October 01, 2026 till 48 hours after the declaration of the Un-Audited Financial Results for the quarter ended September 30, 2026.

Appointment details

• Ravi Bhushan Prasad, appointed as Company Secretary and Compliance Officer.
• Effective from September 22, 2026.
• Reason: Appointment of Company Secretary and Compliance Officer.
• Qualified Company Secretary (ACS67940) with 4+ years' corporate secretarial experience.
• Not related to any director.
• Designated as KMP with authority for secretarial compliance matters.

Demat/Remat Status

• Details of dematerialisation/rematerialisation for the reporting quarter furnished to all stock exchanges.
• Securities dematerialised/rematerialised have been listed on the stock exchanges where earlier issued securities are listed.
• Physical certificates were mutilated and cancelled after verification; depository name substituted as registered owner within timelines.

Delay in filing results

• Delay in filing unaudited results for quarter ended 30 June 2026; submission by 14 July 2026.
• ERP integration issues and Tally ledger mismatches necessitated manual adjustments.
• Accountant resigned in May 2026, delaying finalization of accounting entries.
• Open balances and cross-system reconciliation required with statutory auditors.
• The company regrets the delay and will ensure timely regulatory compliance going forward.
• Results will be submitted on or before 14 July 2026.

Website outage and compliance upload

• Website non-operational; all compliance data uploaded to BSE Portal, including March 26 financials and AGM notice.

Board outcome

• Board approved unaudited standalone and consolidated quarterly results for quarter ended 30 June 2026 and share issue.

Auditor observations

• Auditors qualified opinion on consolidated results due to ERP audit trail absence.
• ERP systems used multiple project tools with no audit trail; reliance on manual/Excel.
• Statutory dues provided but not paid: PF 34,795; ESIC 17,549; TDS 17,36,262; Total 17,88,606.
• Outstanding overdue loans with NBFCs; totals disclosed; restructuring underway.
• Emphasis of matter: restructure financial resources to align with overdue payments and NBFC dues; EPP and software integration.
• Interim results of one subsidiary not reviewed; assets 2.43 Lakhs; net loss 0.29 Lakhs.
• Results for quarter ended 30 June 2026 are balancing figures to full-year audited numbers.

Other matters

• Standalone and consolidated quarterly results are balancing figures to full-year audits.