Skyline Ventures India Limited has announced the resignation of its Independent Director, Mr. Nikshit Hemendra Shah, effective December 19, 2025. The resignation was disclosed under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015, highlighting significant governance challenges within the company.

Resignation Details

The company provided comprehensive details regarding the directorship change in its regulatory filing:

Stated Reasons for Departure

According to the company's disclosure, Mr. Shah resigned due to conflicts between management and shareholders. The filing specifically noted that these unwanted conflicts and pressures have impaired the smooth functioning of the Board in recent times. This indicates ongoing governance issues that have affected the company's decision-making processes.

Formal Resignation Process

Mr. Shah submitted his formal resignation through an email addressed to the Board of Directors on December 19, 2025. In his resignation communication, he:

• Confirmed his resignation as Independent Director with immediate effect
• Cited the same reasons mentioned in the company's regulatory filing
• Requested the release of pending payments due to him
• Asked the Board to accept his resignation immediately and file necessary forms with MCA and SEBI

Regulatory Compliance

The disclosure was made in compliance with multiple regulatory requirements:

• Regulation 30 of SEBI LODR
• Clause 7, Para A of Part A of Schedule III to the said Regulation
• SEBI Master Circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024

These regulations specifically address changes in Directors and Key Managerial Personnel, ensuring transparency in corporate governance matters.

Company Information

Skyline Ventures India Limited, with CIN L45200TG1988PLC009272, has its registered office at Workafella, Cyber Crown-424, Sec-II, HUDA Techno Enclave, Madhapur, Hyderabad, Telangana. The resignation was signed off by Director Hannah Priyadarshini (DIN: 10103528), indicating the company's commitment to maintaining proper governance protocols despite the ongoing challenges.

Skyline Ventures India Limited has announced the withdrawal of a significant purchase order amidst complications with its Goods and Services Tax Identification Number (GSTIN). The company, which operates in the construction and interior works sector, faces a setback as it loses out on a contract worth over Rs. 1.2 crore.

Order Details and Cancellation

The purchase order, valued at Rs. 1,20,33,577.00, was initially received from Optimus Ventures Pvt. Ltd. on October 31, 2025. The scope of work included:

• Civil Works
• Interior Works
• Furniture Services

However, the order has been withdrawn due to the cancellation of Skyline Ventures' GSTIN. The company has been unable to reactivate their GSTIN as of the announcement date.

Timeline of Events

Impact and Implications

The cancellation of this order represents a significant loss for Skyline Ventures India Limited. The value of the withdrawn order, at over Rs. 1.2 crore, could have potentially boosted the company's revenue and project portfolio. This incident highlights the critical importance of maintaining proper tax registrations and compliance for businesses operating in India.

The company's inability to reactivate its GSTIN raises questions about potential regulatory challenges or administrative issues it may be facing. Shareholders and potential investors may need to closely monitor the situation for any further developments or explanations from the company management.

Regulatory Compliance

Skyline Ventures India Limited has made this announcement in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed entities to disclose material events or information to the stock exchanges.

The company's prompt disclosure of this setback demonstrates its commitment to transparency with its stakeholders. However, the underlying issue of the cancelled GSTIN remains a concern that the company will need to address to prevent similar incidents in the future.

As the situation develops, stakeholders will be keen to see how Skyline Ventures India Limited resolves its GSTIN issues and mitigates the impact of this lost order on its business operations and financial performance.