Sastasundar Ventures Limited has informed stock exchanges that the National Company Law Tribunal (NCLT), Kolkata Bench has sanctioned the share capital reduction scheme of its step-down subsidiary Genu Path Labs Limited (GPL). The NCLT order dated February 12, 2026 was uploaded on the tribunal's website on February 13, 2026.

NCLT Approval Details

The tribunal has approved the reduction of GPL's issued, subscribed and paid-up equity share capital through a comprehensive restructuring scheme. The approved reduction involves cancelling and extinguishing a significant portion of the existing share capital while maintaining the same number of shares but at reduced face value.

Financial Rationale

The capital reduction scheme was necessitated by GPL's accumulated losses of Rs. 38,92,75,357 as on December 31, 2024. The company's management decided to write off these accumulated losses against the Securities Premium Account and reduce the share capital to better reflect the company's financial position.

The restructuring became necessary after the relationship between Sastasundar Healthbuddy Limited (GPL's holding company) and Flipkart Health Limited ceased in October 2024. This development affected GPL's planned revenue streams through the marketplace portal, prompting the need for capital adjustment.

Regulatory Compliance

The scheme received unanimous approval from shareholders at an Extraordinary General Meeting held on March 24, 2025. All seven shareholders present, including Sastasundar Healthbuddy Limited holding 1,97,49,992 shares, voted in favor of the special resolution.

The company had 22 unsecured creditors with total liabilities of Rs. 8,14,984 as on April 21, 2025, and no secured creditors. All statutory requirements including creditor notifications and newspaper publications were completed as per NCLT directions.

Implementation Timeline

The appointed date for the capital reduction scheme is January 1, 2025. GPL must now deliver a certified copy of the NCLT order to the Registrar of Companies within thirty days and publish notices in leading English and Bengali newspapers within two weeks of receiving the registration certificate.

Strategic Impact

The capital reduction is expected to improve GPL's net worth and provide greater flexibility for future fundraising activities. The scheme does not involve any financial outlay and will not affect the company's ability to meet its operational obligations. Management believes this restructuring will attract new investors and create better business opportunities for the diagnostic services company.

Sastasundar Ventures Limited has successfully concluded its postal ballot process and formally notified stock exchanges about the approved name change to Health X Platform Limited, marking a significant corporate transformation in the healthcare and digital platform space.

Postal Ballot Results Overview

The company conducted the postal ballot through remote e-voting process as per the notice dated January 7, 2026. The voting period commenced on January 15, 2026 at 9:00 a.m. and concluded on February 13, 2026 at 5:00 p.m. A total of 85 members representing 25,141,562 equity shares participated in the voting process.

Resolution 1: Company Name Change

The first special resolution sought approval for changing the company name from 'Sastasundar Ventures Limited' to 'Health X Platform Limited' along with consequential amendments to the Memorandum and Articles of Association. This resolution received exceptional support from shareholders across all categories.

Resolution 2: Memorandum Amendments

The second special resolution covered amendments to the Main Object Clause of the Memorandum of Association. The amendments include two new business objectives focused on healthcare and digital platform operations.

New Business Objectives

The approved amendments add two significant business verticals to the company's main objects. The new Object No. 7 enables the company to carry on healthcare, beauty care, personal care, pharmaceuticals, wellness, diagnostics, and food businesses including manufacturing, processing, marketing, trading, and distribution. Object No. 8 allows the company to design, develop, own, operate, and maintain digital platforms and e-commerce services, including marketplace operations, trading, order fulfillment, warehousing, logistics, and data management.

Regulatory Compliance and Implementation

Mr. Raj Kumar Bantia, Company Secretary in Practice, served as the scrutinizer and certified both resolutions were passed with requisite majority on February 13, 2026. The company has formally notified BSE Limited and National Stock Exchange of India Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary Pratap Singh signed the regulatory disclosure, confirming compliance with all listing requirements. The detailed voting results and scrutinizer's report are available on the company's website at www.sastasundarventures.com .