Tricom Fruit Products Limited held its 32nd Annual General Meeting on September 30, 2026, through video conferencing, passing both ordinary resolutions with 99.81% of valid votes in favour.

The meeting was conducted under the Corporate Insolvency Resolution Process, with Resolution Professional Prakash Dattatraya Naringrekar presiding. The e-voting period ran from September 27, 2026 at 9:00 am to September 29, 2026 at 5:00 pm, with additional e-voting available during the AGM proceedings. Hetal Doshi of Hetal Doshi & Associates, Company Secretaries, was appointed as Scrutinizer to oversee the e-voting process in a fair and transparent manner.

AGM voting participation

As on the record date of September 23, 2026, the company had 5,342 total shareholders. Attendance at the meeting was entirely through video conferencing, with 8 promoter and promoter group shareholders and 28 public shareholders joining via the platform. No shareholders attended in person or through proxy.

Resolution 1: Adoption of financial statements

The first ordinary resolution sought to receive, consider, and adopt the Audited Statement of Profit and Loss for the financial year ended March 31, 2026, the Balance Sheet as at that date, and the reports of the Board of Directors and Auditors thereon. The resolution was passed with the following vote breakdown:

The resolution was passed. There were no invalid votes across any category.

Resolution 2: Re-appointment of director

The second ordinary resolution sought to re-appoint Mr. Chetan Kothari (DIN: 00050869) as Director, who retires by rotation and, being eligible, offered himself for re-appointment. The voting outcome was identical to Resolution 1:

The resolution was passed. Promoter and promoter group shareholders were noted as not interested in either agenda item. No invalid votes were recorded for this resolution either.

Scrutinizer's report and compliance

The Consolidated Scrutinizer's Report was issued on October 1, 2026, and submitted to the company along with the voting results as required under Regulation 44 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The votes were unblocked in the presence of two witnesses, Avantika Marathe and Yash Dalvi, who are not employees of the company. The voting results and scrutinizer's report are available on the company's website and the NSDL website.

Tricom Fruit Products reported a net loss of ₹13.99 lakh for the financial year ended March 31, 2026, a significant improvement from the ₹40.05 lakh loss recorded in the previous year. The company continues to operate under the Corporate Insolvency Resolution Process (CIRP), with its board powers suspended and management vested in the Resolution Professional.

Financial Performance

The loss reduction was driven by lower operational expenses during the insolvency process. Revenue from operations remained at nil, as the company's manufacturing facilities have been discontinued since April 2017. Interest income on fixed deposits contributed ₹8.94 lakh to other income, up from ₹3.10 lakh in FY25. However, finance costs rose to ₹4.22 lakh from ₹77,000 in the prior year, reflecting ongoing borrowing obligations.

Insolvency Progress

The Committee of Creditors (CoC) approved a resolution plan submitted by Mr. Vivek Kumar Ratakonda with 99.91% voting support. The plan has been filed with the National Company Law Tribunal (NCLT), Mumbai Bench, for final approval. No CoC member voted against the proposal. The company’s assets were previously sold by Edelweiss Asset Reconstruction Company Limited under the SARFAESI Act.

Balance Sheet Position

As of March 31, 2026, Tricom Fruit Products held total assets of ₹1.66 crore, comprising primarily fixed deposits (₹1.55 crore) and cash equivalents (₹2.04 lakh). Total liabilities stood at ₹8.57 crore, dominated by long-term borrowings of ₹65.65 crore and trade payables of ₹18.20 crore. The company has a negative net worth of ₹869.36 lakh.

What the Numbers Show

The narrowing net loss is largely attributable to reduced CIRP-related administrative costs rather than operational recovery. Legal and professional fees fell to ₹9.23 lakh from ₹18.89 lakh in FY25, while AGM expenses decreased to ₹3.25 lakh from ₹51,000. This divergence highlights that the financial improvement is procedural, driven by lower compliance spending during the insolvency period, rather than any revival of core business activities.