Redmax Footwears Limited, formerly known as Viaan Industries Limited, has adjourned its 41st Annual General Meeting (AGM) due to a lack of quorum. The meeting, originally scheduled for September 23, 2026, will now be held on Wednesday, September 30, 2026, at 11:30 am.

The company filed an intimation with BSE Limited regarding the change in schedule pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The initial AGM convened on September 23 at 11:30 am but was adjourned as the required quorum was not present. Under standard corporate governance protocols, the meeting is deferred to the same time on the following week.

Meeting Details and Access

The adjourned 41st AGM will be conducted entirely through Video Conferencing or Other Audio-Visual Means. Shareholders can access the virtual meeting link via the National Securities Depository Limited (NSDL) e-voting portal. The company confirmed that the voting and participation mechanisms remain consistent with previous disclosures.

Corporate Name Change Context

This intimation marks a significant transition in the company's identity. The name was officially changed from Viaan Industries Limited to Redmax Footwears Limited via a Ministry of Corporate Affairs letter dated May 5, 2025. The company is currently in the process of updating its records with stock exchanges to reflect this new identity. Consequently, all recent communications, including this AGM notice, are issued on the letterhead of Redmax Footwears Limited.

The registered office remains located at Unit No 507, Aggarwal Millennium Tower I, Netaji Subhash Place, Pitampura, North West Delhi. Teena Goel, Company Secretary and Compliance Officer, signed the digital filing confirming the adjournment details.

Redmax Footwears Limited (formerly Viaan Industries Limited) reported a net loss of ₹16.97 lakh for FY26, a significant improvement from the ₹32.14 lakh loss recorded in FY25. The footwear manufacturer posted nil revenue from operations during the year under review.

The company has scheduled its 41st Annual General Meeting (AGM) for Wednesday, September 23, 2026. Shareholders will vote on several special business items, primarily seeking approval for material related-party transactions (RPTs) for the upcoming financial year.

Financial Performance

The company's operational inactivity is reflected in its top-line figures. Revenue from operations stood at nil for FY26, compared to ₹2.20 lakh in the previous year. Consequently, total income remained at nil.

Despite the lack of revenue, the company managed to reduce its overall expenses. Total expenses fell to ₹16.83 lakh in FY26 from ₹24.34 lakh in FY25. This reduction contributed to the narrowing of the net loss.

Related-Party Transactions

The AGM agenda includes resolutions to approve RPT limits with promoters and their relatives for FY27. These transactions are intended to facilitate the commencement of business operations.

• Lam N Fab: A limit of up to ₹15 crore for sale and purchase of goods.
• Hemant Jindal: A limit of up to ₹2 crore for loans.
• Monika Jindal: A limit of up to ₹1 crore for loans.
• Hemant Jindal HUF: A limit of up to ₹1 crore for sale and purchase of goods.
• Neha Jindal: A limit of up to ₹1 crore for loans.

All proposed transactions are to be conducted on an arm's length basis and in the ordinary course of business.

What the Numbers Show

The company's balance sheet reveals a reliance on promoter funding amidst operational dormancy. Short-term borrowings increased to ₹40.63 lakh as of March 31, 2026, from ₹29.70 lakh in the previous year. Concurrently, cash and cash equivalents dwindled significantly to just ₹0.19 lakh, down from ₹12.95 lakh. This divergence suggests that despite raising additional debt, the company is burning through its liquid reserves to cover operating expenses, which totaled ₹16.83 lakh in the absence of any revenue inflow.

Corporate Governance and Compliance

The company has shifted its registered office from Mumbai to Delhi. Additionally, the Board reappointed Mrs. Monika Jindal as a Director by rotation.

The Secretarial Audit Report highlighted certain compliance delays, including late submissions of shareholding patterns and compliance certificates to SEBI. However, the statutory auditors, Ashwani & Associates, issued an unmodified opinion on the financial statements.