IND-AGIV Commerce Limited announced significant board-level changes following its meeting held on March 7, 2026. The company informed BSE Limited about key personnel decisions that will reshape its leadership structure in the coming period.

Board Meeting Outcomes

The board meeting, which commenced at 2:30 PM and concluded at 5:45 PM, addressed three critical agenda items related to directorial changes:

Leadership Transition Details

The board formally accepted Mr. Ranjan Chona's resignation from his role as Executive Director, marking the end of his tenure in this key executive position. Simultaneously, the board also accepted Ms. Sushila Rupani's resignation from her directorial position.

To maintain board diversity and composition requirements, IND-AGIV Commerce Limited has committed to appointing a new lady director to replace Ms. Sushila Rupani. The company indicated that this appointment will be completed within the specified regulatory time limit, ensuring compliance with applicable governance norms.

Regulatory Compliance

The company's announcement was made in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure also complied with Para A Part A of Schedule III and other applicable SEBI regulations, demonstrating the company's adherence to transparency requirements.

Managing Director Lalit Lajpat Chouhan, with DIN 00081816, signed the official communication to BSE Limited, confirming the board's decisions and the company's commitment to regulatory compliance.

IND-AGIV Commerce Limited has announced its unaudited financial results for the third quarter ended December 31, 2025, following the board meeting held on February 14, 2026. The company reported a net loss of ₹42.99 lakhs against total income of ₹230.57 lakhs during the quarter.

Financial Performance Overview

The company's financial performance for Q3FY26 reflects operational challenges with total expenditure of ₹273.55 lakhs exceeding income. The earnings per share stood at negative ₹1.43 for the quarter.

Board Meeting Outcomes

The board meeting commenced at 3:30 PM and concluded at 6:30 PM on February 14, 2026. The unaudited financial results for the quarter ended December 31, 2025 were approved. However, the board did not consider the resignations of Mr. Ranjan Chona from Executive Director and Mr. Lalit Chouhan from Managing Director positions.

Share Capital Restructuring

The company successfully completed a preferential allotment of 20,56,965 equity shares, increasing the total share count from 10,00,000 to 30,56,965 shares. This restructuring significantly altered the shareholding pattern, with promoter group holding reducing from 72.21% to 28.69%.

Financial Challenges and Debt Position

The company faces significant financial challenges with outstanding dues to various NBFCs totaling ₹2,14,61,417. The major creditors include Redfort Capital Finance with dues of ₹2,01,95,289 and other working capital lenders. The company is currently under restructuring discussions with all NBFC lenders for settlement of dues.

Regulatory Compliance Issues

The company has defaulted on statutory dues amounting to ₹19,23,734, including PF dues of ₹1,13,995, ESIC dues of ₹29,277, and TDS obligations of ₹17,80,462. Additionally, the company's bank account with Axis Bank Bangalore Branch remains under lien with Income Tax Recovery, which the company is working to resolve.