Quadrant Televentures Limited held its 79th Annual General Meeting on September 29, 2026, at 4:30 pm through video conference and other audio-visual means. The meeting took place while the company remains under the Corporate Insolvency Resolution Process (CIRP).

The proceedings were chaired by Rajesh Jhunjhunwala, who serves as the Resolution Professional. Under the Insolvency and Bankruptcy Code, 2016, the powers of the Board of Directors have been suspended since September 2, 2025, with all authority vested in the Resolution Professional.

Meeting Proceedings and Attendance

The meeting commenced with the confirmation of quorum. A total of 36 members holding 19,442 equity shares were present. The Company Secretary informed shareholders that the company is undergoing CIRP as per NCLT orders.

Key personnel present included:

• Resolution Professional: Rajesh Jhunjhunwala
• Wholetime Director: Dinesh A Kadam
• Director: Anushka J Vagal
• Director: Pritesh Lahoti
• Director: Pramod B Jagjeevan
• CFO & Company Secretary: Umesh P Srivastava

Resolutions and Voting

The following items of business were put to vote:

1. Adoption of Financial Statements: Adoption of audited financial statements for FY26 along with Directors' and Auditors' reports.
2. Ratification of Cost Auditor Remuneration: Ratification of remuneration to be paid to M/s SDM & Associates, Cost Auditors, for FY27.

Remote e-voting facilities were available from September 26 to September 28, 2026. Members attending the meeting could also cast votes via e-voting during the session.

Governance Structure Under CIRP

The governance structure reflects the ongoing insolvency proceedings. The Board's operational powers are suspended, and the Resolution Professional oversees company affairs. Statutory Auditors M/s SGN & Co. and Secretarial Auditors M/s B. K. Gupta & Associates were in attendance.

Mrs. Gayathri R. Girish, Company Secretary in Whole-Time Practice, served as the Scrutinizer. She was tasked with compiling results from remote e-voting and live e-voting to submit a Consolidated Scrutinizer's Report within stipulated timeframes.

The meeting concluded at 4:55 pm with a vote of thanks from the Chairman.

Quadrant Televentures reported a net loss of ₹2,330.18 lakh for the financial year ended March 31, 2026, a significant reduction compared to the net loss of ₹27,629.67 lakh recorded in the previous year. Revenue from operations for FY26 stood at ₹20,953.45 lakh, down from ₹23,624.20 lakh in FY25. The company remains under the Corporate Insolvency Resolution Process (CIRP) initiated by the National Company Law Tribunal (NCLT) order dated September 2, 2025, which continues to cast material uncertainty on its ability to continue as a going concern.

Financial Performance

For the quarter ended March 31, 2026, the company reported a profit of ₹550.10 lakh, a reversal from the loss of ₹4,889.11 lakh in the corresponding quarter of the previous year. Total income for the quarter was ₹5,161.75 lakh. Total expenses for the full year decreased to ₹23,086.29 lakh from ₹37,872.95 lakh in the prior year. The company’s paid-up equity share capital remained constant at ₹6,122.60 lakh.

Audit Qualifications and Going Concern

Statutory auditors M/s. SGN & Co. issued a qualified opinion on the financial results. The report highlights that the company has incurred continuous losses leading to a complete erosion of net worth, with current liabilities exceeding current assets. Additionally, the company has defaulted on the repayment of borrowings. The auditors noted they were unable to obtain sufficient evidence regarding the appropriateness of the going concern basis of accounting due to ongoing uncertainties and pending legal outcomes related to the CIRP.

The audit report further disclosed that finance costs of ₹2,183.47 lakh for the quarter and ₹5,849.35 lakh for the year were not provided in the statement of profit and loss, citing the moratorium under Section 14 of the Insolvency and Bankruptcy Code. Had these costs been provided, the loss for the year would have been higher by ₹5,849.35 lakh. The auditors also stated that the potential impact of confidential CIRP proceedings on the financial results remains unascertained.

Insolvency Resolution Process

The Board of Directors' powers stand suspended, and management operations are being conducted by the Resolution Professional, Mr. Rajesh Jhunjhunwala. The CIRP timeline has been extended multiple times, and the Resolution Professional has invited Expressions of Interest (EOI) from prospective resolution applicants. Four resolution plans have been submitted and are currently under evaluation. The financial results have been taken on record by the Resolution Professional on May 30, 2026.