Advik Capital Limited has initiated criminal proceedings against identified persons to address concerns regarding transactions involving the company's securities and to protect shareholder interests. The company filed a criminal complaint under the provisions of the Bharatiya Nagarik Suraksha Sanhita, 2023, alleging offences punishable under the Bharatiya Nyaya Sanhita, 2023. This action follows earlier public announcements and represents the next step in measures previously disclosed by the Board to uphold market integrity and the company's capital structure.

The complaint names Fairplan Distributors Private Limited and certain other persons. Pursuant to an order dated May 30, 2026, the Hon'ble Court has directed that the complaint be processed in accordance with the law and has ordered the issuance of notice to the proposed accused persons. The matter is presently listed before the Hon'ble Court on June 6, 2026.

Legal Proceedings and Governance

The Board of Directors stated that these proceedings reflect the company's commitment to strong corporate governance and accountability. The management emphasized that concerns impacting shareholders and integrity should be addressed through lawful, transparent, and institutional processes. The company intends to cooperate with judicial, regulatory, and enforcement authorities as required and will pursue all lawful remedies available to safeguard its interests.

The company acknowledged various complaints and proceedings initiated before different forums but stated it is addressing these through appropriate legal processes. It remains focused on protecting its legitimate business interests and strategic objectives, maintaining that it does not anticipate any disruption to its normal business operations as a consequence of these proceedings.

Business Operations and Strategy

As a Non-Banking Financial Company registered with the Reserve Bank of India, advik capital continues to pursue initiatives aimed at strengthening its capital base and enhancing net worth. The Board affirmed its commitment to ensuring that growth plans, business operations, and capital raising initiatives progress in the best interests of stakeholders. The company is registered as a non-deposit-taking NBFC with Registration No. B-14.00724.

Disclosures will be made in accordance with applicable laws, including the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as material developments occur. The company clarified that the allegations referred to in the complaint remain subject to adjudication by competent judicial authorities and do not constitute a determination of liability.

ADVIK Capital Limited's board of directors convened on April 9, 2026, to address several critical corporate matters, including capital raising initiatives, key personnel appointments, and governance concerns related to shareholding patterns. The meeting was held at the company's corporate office in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

Rights Issue Approval for Capital Strengthening

In line with its capital planning initiatives and to further strengthen the company's capital base for sustainable growth, the board approved raising funds through the issuance of securities by way of a rights issue of fully paid-up equity shares. The rights issue will be offered to eligible equity shareholders with all necessary authorizations and approvals accorded by the board.

Company Secretary Appointment

On the recommendation of the Nomination and Remuneration Committee, the board appointed Ms. Chhavi Gupta as Company Secretary and Key Managerial Personnel under Section 203 of the Companies Act, 2013, effective immediately. Ms. Gupta, who was previously serving as Compliance Officer of the company, brings extensive expertise to her new role.

Ms. Gupta possesses strong academic knowledge of corporate laws, secretarial practices, regulatory compliance, corporate governance, and allied legal and regulatory matters.

Shareholding Concentration Alert and Governance Concerns

The board addressed significant governance concerns regarding recent shareholding activities and issued a formal influence and shareholding concentration alert. The board noted recent SAST disclosures made by a shareholder and emphasized that any accumulation of influence or shareholding must comply with applicable regulatory and governance frameworks and fair market conduct.

Though no conclusion is being drawn at this stage, the board observed suspicious trading patterns and possible round tripping of funds by certain entities for accumulating influence and shareholding concentration. The company decided to monitor these patterns and developments while taking appropriate measures to strengthen its capital and institutional framework. The company expressed full faith in India's regulatory ecosystem to uphold market integrity and protect genuine stakeholders and investors.

Meeting Details and Compliance

The board meeting commenced at 11:30 A.M. and concluded at 12:55 P.M. on April 9, 2026, at the company's corporate office. All decisions were made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, ensuring proper disclosure to stakeholders and regulatory authorities.