Sterling Green Woods Limited, a company listed on the Bombay Stock Exchange (BSE: 526500), has announced the resignation of its Company Secretary and Key Managerial Personnel, CS Siddharth Shah. The resignation, effective from September 11, 2025, was attributed to medical reasons.

Resignation Details

According to the company's filing with the BSE, CS Siddharth Shah submitted his resignation letter on September 11, 2025. In his letter, Shah cited "personal medical reasons" for his decision to step down from his position. The company confirmed that there were no other material reasons for his resignation beyond the stated medical issues.

Company's Statement

Narender Saini, Whole-time Director of Sterling Green Woods Limited, made the official announcement to the stock exchange. The company's statement read, "CS Siddharth Shah has resigned from the post of Company Secretary and Key Managerial Personnel (KMP) of the Company, due to medical reason and the same will be effective from September 11, 2025. There is no other material reason for his resignation, other than that mentioned herewith."

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations. This regulation mandates listed entities to disclose material events or information to the stock exchanges promptly.

Impact and Next Steps

While the resignation of a Company Secretary is a significant event for any listed company, Sterling Green Woods Limited has not provided any information regarding Shah's replacement or interim arrangements. Shareholders and investors will likely be watching for further announcements regarding the appointment of a new Company Secretary to ensure continued compliance with regulatory requirements.

Sterling Green Woods Limited will need to file the necessary forms with the Registrar of Companies to officially record this change in Key Managerial Personnel.

The company's management and board will be responsible for ensuring a smooth transition and maintaining proper corporate governance standards during this period of change.

Sterling Green Woods Limited, a real estate and hospitality company, has announced its financial results for the first quarter, revealing a loss and several key appointments. The company's Board of Directors approved the unaudited financial results in a meeting held on August 14.

Financial Performance

Sterling Greenwoods reported a standalone loss of Rs. 48.05 lakhs for the quarter. On a consolidated basis, the loss stood at Rs. 48.12 lakhs. The company's performance was impacted by the absence of net sales from operations during the quarter. However, it recorded other operating income of Rs. 1.65 lakhs.

Key Financial Metrics

Appointment of Auditors

The Board made several key appointments during the meeting:

1. Statutory Auditors: M/s. Nahta Jain & Associates have been appointed as statutory auditors for a period of five years. The firm brings 35 years of experience in audits, taxation, and company law matters.

2. Secretarial Auditor: Mr. Kinjal Shah, a Practicing Company Secretary, has been appointed as the secretarial auditor. Mr. Shah specializes in corporate law matters and is based in Ahmedabad.

3. Internal Auditor: M/s. M.P. Sutaria & Co., Chartered Accountants, have been appointed as internal auditors. The firm is expected to enhance internal controls and strengthen financial oversight.

Business Transition

Sterling Greenwoods is currently undergoing a business model transition following a lease agreement with Pushpadevi Goenka Trust dated April 1, 2024. As a result of this transition, the company has not presented segment-wise revenue, results, and capital employed for the current period.

Auditor's Note

The company's auditors noted that Sterling Greenwoods has not charged lease income of Rs. 45 lakhs due for the quarter. If booked, this would have reduced the reported loss by the same amount. The company's management is expected to address this in future financial statements.

Sterling Greenwoods Limited continues to navigate its business transition while focusing on strengthening its financial and auditing processes through these new appointments.