Futuristic Solutions Limited (FSL) has announced a board meeting scheduled for October 25, 2025, to address a significant share acquisition and related corporate actions. The company aims to obtain post-facto approval for a Share Purchase Agreement dated October 3, 2025, involving the acquisition of 250 equity shares in Diana Euro-Chem Private Limited.

Key Meeting Agenda

The board meeting will focus on several important matters:

Acquisition Details

Futuristic Solutions executed the Share Purchase Agreement on October 3, 2025, citing commercial urgency as the reason for not obtaining prior board approval. The company now seeks to regularize this transaction through post-facto approval.

Regulatory Considerations

The board will deliberate on classifying the acquisition under two important sections of the Companies Act, 2013:

1. Section 186: Considering the acquisition as an "investment," requiring shareholders' approval via special resolution.
2. Section 188: Treating the transaction as a Related Party Transaction due to common directorships between Futuristic Solutions and Diana Euro-Chem Private Limited, necessitating shareholders' approval through an ordinary resolution.

Next Steps

Following the board meeting, Futuristic Solutions Limited is expected to:

1. Convene an Extraordinary General Meeting to seek shareholders' approval for the acquisition.
2. Make necessary disclosures to the stock exchange under Regulation 30 of SEBI (LODR) Regulations, 2015.
3. File required e-forms, including MGT-14, with the appropriate authorities.

This board meeting marks a significant step for Futuristic Solutions as it seeks to formalize its recent acquisition and ensure compliance with regulatory requirements. Shareholders and investors will be keenly watching the outcomes of this meeting and the subsequent EGM for further developments in this corporate action.

Futuristic Solutions announced a significant change in its top management as Chief Financial Officer (CFO) Tanuj K. Sahgal tendered his resignation. The company's board of directors convened a meeting to address this development and other matters.

Key Details of the Resignation

The board meeting, which lasted for 25 minutes, was primarily focused on noting and approving the resignation of Mr. Sahgal. The company has stated that all necessary filings related to this change will be made in accordance with the applicable provisions of the Companies Act, 2013.

Corporate Governance and Compliance

Futuristic Solutions, operating under the Corporate Identification Number (CIN) L74899DL1983PLC016586, has emphasized its commitment to regulatory compliance. The company's prompt disclosure of this management change aligns with the transparency requirements for listed entities.

Jagrati Rathi, the Company Secretary and Compliance Officer of Futuristic Solutions, has officially communicated this development to the BSE Limited, ensuring that all stakeholders are informed of this significant change in the company's financial leadership.

As of now, the company has not announced any immediate successor to the CFO position. Investors and market watchers will likely be keen to see how Futuristic Solutions plans to fill this crucial role in its financial management team.

This management change comes at a time when companies across various sectors are experiencing shifts in their executive teams.