Rich Universe Network Limited , a company listed on the Bombay Stock Exchange (BSE), has announced significant changes to its board structure, effective immediately. The company's Board of Directors, following recommendations from the Nomination & Remuneration Committee, has approved key leadership transitions.

New Chairman Appointed

Mr. Yugank Gadi, previously serving as a Non-Executive Independent Director, has been elevated to the position of Chairman & Non-Executive Independent Director. At 36 years old, Mr. Gadi brings a fresh perspective to the leadership role, backed by his academic credentials and professional expertise.

Mr. Gadi holds both bachelor's and master's degrees in Commerce from Chhatrapati Shahu Ji Maharaj University. His expertise in finance and law is expected to be a valuable asset to the board, potentially contributing to strong governance, financial stability, and sustainable growth for the organization.

Changes in Executive Leadership

Concurrent with Mr. Gadi's appointment, Mr. Rajeev Agarwal's role has been modified from Chairman & Executive Director to Executive Director. This restructuring aims to streamline the company's leadership and align with its internal governance structure.

Continuity in Independent Directorship

Despite his new role as Chairman, Mr. Gadi will continue to serve as an Independent Director on the board. The company has clarified that there are no changes to the terms of his appointment as per the Companies Act, 2013, and SEBI (LODR) Regulations, 2015.

Financial Performance

The board meeting also addressed other crucial matters, including the approval of unaudited financial results for the quarter ended June 30. The financial highlights for the quarter are as follows:

The company reported a loss of ₹5.70 lakhs for the quarter, compared to a profit of ₹0.54 lakhs in the corresponding quarter of the previous year.

Additional Board Decisions

The board meeting also resulted in several other key decisions:

1. Approval of the Draft Board's Report for the financial year ended March 31.
2. Approval of the Draft Notice for the 35th Annual General Meeting (AGM) scheduled for September 16.
3. Appointment of PCS Mr. Vaibhav Agnihotri as the Scrutinizer for the e-voting process at the upcoming AGM.
4. Approval for the closure of the Register of Members and Share Transfer Books from September 9 to September 16 for the AGM.

These changes and decisions reflect Rich Universe Network Limited's efforts to strengthen its governance structure and prepare for the upcoming financial year. Shareholders and market observers will likely be watching closely to see how these leadership changes impact the company's performance and strategic direction in the coming months.

Rich Universe Network Limited, a company listed on the Bombay Stock Exchange (BSE: 530271), held a significant board meeting on August 5, 2025, revealing financial results and announcing key leadership changes.

Financial Performance

The company reported a net loss of Rs 5.70 lakhs for the quarter ended June 30, 2025, a stark contrast to the profit of Rs 0.54 lakhs recorded in the corresponding quarter of the previous year. The financial results, which were reviewed and approved by the board, showed that the total revenue from operations was nil for the quarter, with no other income reported.

Key Financial Metrics

Leadership Changes

The board meeting also brought about significant changes in the company's leadership structure:

1. Mr. Yugank Gadi, previously serving as a Non-Executive Independent Director, has been elevated to the position of Chairman & Non-Executive Independent Director.
2. Mr. Rajeev Agarwal, who was the Chairman & Executive Director, has been redesignated as Executive Director.

These changes are effective immediately and are aimed at strengthening the company's governance structure.

Annual General Meeting

The board approved the draft notice for the 35th Annual General Meeting (AGM), scheduled for September 16, 2025. In preparation for the AGM, the company has appointed PCS Mr. Vaibhav Agnihotri as the scrutinizer to ensure a fair and transparent voting process.

Other Key Decisions

• The board approved the closure of share transfer books from September 9-16, 2025 (both days inclusive) for the purpose of the AGM.
• The draft Board's Report for the financial year 2024-25, along with all annexures including the Management Discussion & Analysis Report, was approved.

Company Profile

Rich Universe Network Limited, formerly known as Rich Capital & Financial Services Limited, is headquartered in Kanpur. The company's paid-up equity share capital remains unchanged at Rs 725.28 lakhs.

As the company navigates through these changes and financial challenges, stakeholders will be keenly watching how the new leadership structure impacts its future performance and strategic direction.