Ekam Leasing & Finance Co . Limited has taken a significant step forward in its corporate restructuring initiative by filing a Joint First Motion Application with the National Company Law Tribunal (NCLT) New Delhi Bench. The application, filed on 31st March, 2026, relates to the proposed scheme of amalgamation involving two private limited companies.

Amalgamation Scheme Details

The scheme involves the amalgamation of Rex Overseas Private Limited and S & S Balajee Mercantile Private Limited with Ekam Leasing and Finance Co. Limited. The arrangement encompasses their respective shareholders and creditors, indicating a comprehensive corporate restructuring exercise.

Regulatory Compliance

The company has maintained transparency throughout the process by submitting regular intimations to the Bombay Stock Exchange. Prior communications were made on 23rd January, 2026 and 31st January, 2026, ensuring compliance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Next Steps

Ekam Leasing and Finance Co. Limited has committed to keeping the stock exchange informed about further developments related to the amalgamation scheme. The company will provide updates as and when required, in accordance with applicable laws and regulations. This ensures continued transparency and regulatory compliance throughout the NCLT approval process.

Ekam Leasing & Finance Co . Limited has announced its unaudited financial results for the third quarter of FY26, revealing mixed performance across its standalone and consolidated operations. The company's board approved the results on February 12, 2026, for the quarter ended December 31, 2025.

Standalone Financial Performance

The company's standalone operations showed continued challenges during Q3 FY26. Revenue from operations dropped dramatically to ₹0.06 lakhs compared to ₹1.72 lakhs in the corresponding quarter of the previous year, representing a significant decline in business activity.

The company reported a net loss of ₹21.10 lakhs for Q3 FY26, compared to a loss of ₹19.36 lakhs in Q3 FY25. For the nine-month period ended December 31, 2025, the standalone net loss widened to ₹76.59 lakhs from ₹47.12 lakhs in the corresponding period of the previous year.

Consolidated Results Show Contrasting Performance

On a consolidated basis, the company demonstrated a markedly different performance trajectory. The consolidated results include the holding company and its subsidiaries: Jet Air Securities Private Limited, Rex Overseas Private Limited, and S & S Balajee Mercantile Private Limited.

Regulatory and Compliance Concerns

The auditor's review report highlighted several critical regulatory issues facing the company. As per RBI Notification dated October 19, 2023, NBFCs are required to maintain a minimum Net Owned Fund of ₹5 crore. However, the company's NOF as of December 31, 2025, remains below this prescribed limit, potentially impacting its NBFC status.

Additionally, the company has failed to appoint a Company Secretary throughout the period, which is mandatory under Section 203 of the Companies Act. The auditors also noted that two subsidiaries require registration with the Reserve Bank of India as Non-Banking Finance Companies based on their business activities.

Operational Highlights and Challenges

The company's interest income, which forms the core of its revenue from operations, declined substantially across all reporting periods. For the nine-month period, interest income dropped to ₹7.65 lakhs from ₹21.36 lakhs in the previous year.

The auditors emphasized that the company has not recognized interest income of ₹1.57 lakhs against loans given to Alsan Buildcon Private Limited, as this company has been struck off by the Registrar of Companies. Similarly, no interest expenses were provided for loans outstanding from N K J Securities Private Limited, which was struck off in October 2019.

Financial Position and Capital Structure

The company maintains a paid-up equity share capital of ₹300.00 lakhs with a face value of ₹5 per share, which remained unchanged across all reporting periods. The consolidated total assets stood at ₹1,026.80 lakhs as of December 31, 2025, compared to ₹1,094.44 lakhs in the previous year.

The segment-wise analysis reveals that the Investment & Finance segment continues to be the primary business vertical, though it reported a segment loss of ₹16.39 lakhs for Q3 FY26. The company's financial results will be published in newspapers as per SEBI listing regulations and are available on the BSE website.