Vikas Lifecare Limited has filed an application with the Registrar of Companies, Delhi, seeking an extension of time for convening and holding its Annual General Meeting for the financial year ended March 31, 2026. The filing was made on September 8, 2026.

The company disclosed this development pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The application was submitted under Section 96 of the Companies Act, 2013, read with the applicable rules made thereunder.

Vikas Lifecare stated it will intimate the stock exchanges upon receipt of approval from the Registrar of Companies. The company confirmed it will take necessary steps to convene and hold the meeting within the extended period permitted by the regulator.

Sundeep Kumar Dhawan, Managing Director of Vikas Lifecare, signed the disclosure. The company listed on the National Stock Exchange and BSE Limited will update investors once the extension is granted.

Vikas Lifecare Limited reported its standalone and consolidated financial results for the year ended March 31, 2026, with statutory auditors KSMC & Associates issuing a qualified opinion. The company reported a standalone profit before tax of ₹7,509.36 lakh for FY26, compared to a loss of ₹355.24 lakh in the previous year. Consolidated profit before tax stood at ₹713.65 lakh, reversing the prior year's loss of ₹1,286.93 lakh. The auditors qualified their opinion primarily due to delays in depositing statutory dues and material related party transactions undertaken without prior shareholder approval.

Qualified Opinion and Key Risks

The auditors highlighted that the company delayed the deposit of statutory dues while continuing business and investment activities, including granting inter-corporate deposits. Insufficient evidence was provided regarding the business rationale for these investments. Additionally, the company entered into material related party transactions with promoter group entities and subsidiaries without obtaining prior shareholder approval as required by Regulation 23 of the SEBI LODR Regulations and Section 188 of the Companies Act, 2013. The company is currently in the process of obtaining these approvals.

Emphasis of Matters

Several material matters drew the auditors' attention. The company entered into a Settlement Agreement dated May 30, 2026, with Hallow Securities Private Limited regarding debenture transactions aggregating ₹52.00 crore. While the principal amount was agreed to be settled, the balance remained unconfirmed at the reporting date. The company also received 51% equity shares of Ebix International Holdings Limited pursuant to a settlement, though requisite regulatory approvals for this cross-border transaction are still pending. Furthermore, the company made loans and investments not in compliance with Section 186(8) of the Companies Act, 2013, due to existing defaults in interest repayments.

Financial Performance and Asset Disposals

The financial results were impacted by one-time events. The company disposed of its entire 51.38% equity shareholding in Shashi Beriwal and Co Private Limited for ₹4.15 crore, recognizing a loss of ₹7.06 crore. The sale of immovable property at Arihant Nagar, Delhi, for ₹3.00 crore resulted in a loss of ₹2.56 crore. An impairment loss of ₹5.00 crore was recognized on an advance given towards the proposed acquisition of Abhhyam Services Private Limited due to a dispute.

Regulatory and Legal Proceedings

Vikas Lifecare faces significant regulatory scrutiny. The Enforcement Directorate issued a provisional attachment order for immovable properties with an approximate purchase value of ₹1,333.84 lakhs in connection with an investigation relating to the Mahadev Online Book matter. The company is contesting this attachment. Additionally, the Securities and Exchange Board of India (SEBI) is conducting an investigation under Section 11C of the SEBI Act, 1992, regarding certain matters concerning the company. The Income Tax Department also issued demand notices aggregating to ₹26.44 crore, which the company is contesting.