Skyline Ventures India Limited , a prominent player in the IT and ITES industry, has announced significant changes to its board composition and initiated a governance investigation following an emergency board meeting held on October 3, 2025.

Board Restructuring and New Appointments

The company has appointed two new directors to its board, filling the vacancy created by the departure of Mr. Prashanth Mitta, who left his position as Non-executive Non-Independent Director on September 30, 2025. Mr. Mitta's reappointment resolution was not passed at the 37th Annual General Meeting, and he subsequently expressed unwillingness to continue in the role.

To strengthen its leadership, Skyline Ventures has made the following appointments:

1. Mr. Anil (DIN: 09331597) has been appointed as an Additional Director designated as a Non-executive Non-Independent Director. With over 17 years of experience in IT sales and marketing, Mr. Anil brings expertise in corporate sales, strategic planning, and team management.

2. Mrs. Hannah Priyadarshini (DIN: 10103528) has been appointed as an Additional Director designated as a Whole-time Director. Mrs. Priyadarshini has 15 years of diverse industry experience, with expertise in finance, IT, management, and operations.

Both appointments are for a term of 5 years, subject to shareholder approval. Notably, Mr. Anil and Mrs. Hannah Priyadarshini are spouses, as disclosed in the company's filing.

Governance Investigation Launched

In a move towards ensuring transparency and maintaining high standards of corporate governance, Skyline Ventures has initiated an investigation into certain governance-related concerns. The board has appointed Mr. Nikshit Hemendra Shah, an Independent Director, as the Investigating Officer to conduct a detailed inquiry into:

1. The conduct of the Company Secretary
2. Actions of a specific group of shareholders
3. Potential breaches of the company's data security policy
4. Compliance framework issues
5. Shareholder rights concerns

The company has emphasized its commitment to protecting stakeholder interests and maintaining the highest standards of corporate governance throughout this process.

Committee Reconstitution

Following these changes, Skyline Ventures has reconstituted its key committees:

Audit Committee

Now includes Mrs. Hannah Priyadarshini as a member, alongside existing members Mr. Ajay Kumar Giri (Chairman), Mr. Nikshit Hemendra Shah, and Mrs. Asha Mitta.

Stakeholders Relationship Committee

Mr. Anil joins as a member, with Mr. Ajay Kumar Giri as Chairman and Mr. Nikshit Hemendra Shah as a member.

Nomination and Remuneration Committee

Mr. Anil becomes a member, with Mr. Nikshit Hemendra Shah as Chairman and Mr. Ajay Kumar Giri as a member.

These strategic changes in Skyline Ventures India's leadership and governance structure reflect the company's proactive approach to addressing challenges and strengthening its operational framework. As the investigation unfolds and the new directors settle into their roles, stakeholders will be keenly watching how these developments impact the company's future direction and performance in the competitive IT and ITES sector.

Several companies have released their quarterly financial results for the period ended June 30, 2025, revealing a mixed performance across different sectors.

Skyline Ventures India Limited

Skyline Ventures India Limited, a company listed on the BSE with scrip code 538919, reported zero operational income for the quarter ended June 30, 2025. The company incurred a net loss of Rs 17.03 lakhs, resulting in negative earnings per share of Rs 0.21.

According to the company's LODR (Listing Obligations and Disclosure Requirements) filing, Skyline Ventures India Limited has published its standalone un-audited financial results for the quarter in compliance with SEBI regulations. The results were reviewed by the Audit Committee and approved by the Board of Directors on August 14, 2025.

Other Company Results

Capricorn Systems Global Solutions Limited

Capricorn Systems Global Solutions Limited reported operational income of Rs 26.52 lakhs for the quarter. However, the company recorded a net loss of Rs 10.31 lakhs.

Vedavaag Systems Limited

Vedavaag Systems Limited showed strong performance with operational income of Rs 2,563.75 lakhs and a net profit of Rs 161.21 lakhs. The company achieved earnings per share of Rs 0.69.

Covance Softsol Limited

Covance Softsol Limited reported impressive results with operational income of Rs 1,740.13 lakhs and a net profit of Rs 828.27 lakhs. The company's earnings per share stood at Rs 5.61.

Union Bank of India Issues Recovery Notice

In a separate development, Union Bank of India has issued a recovery notice to SMR Granites Pvt. Ltd. The bank is demanding Rs 5.03 crores for a non-performing asset account. The notice warns of potential enforcement action under the SARFAESI Act if the payment is not made within 60 days.

The mixed results from these companies reflect the varied economic conditions across different sectors. While some firms like Vedavaag Systems and Covance Softsol have shown profitability, others like Skyline Ventures and Capricorn Systems are facing challenges in the current business environment.

These financial results provide insights into the performance of various companies across different sectors of the Indian economy for the first quarter of the fiscal year 2025-26.