Suvidha Infraestate Corporation Limited (SICL) announced the unexpected demise of Mr. Anupkumar K. Goswami, a key figure in the company's leadership. Mr. Goswami, who served as Promoter, Whole Time Director, and Chief Financial Officer, passed away on September 13, 2025.

Leadership Impact

Mr. Goswami's sudden departure leaves a significant void in SICL's top management. As a promoter and key executive, he played a crucial role in the company's operations and strategic direction. His position as CFO underscored his importance in financial management and decision-making processes within the organization.

Shareholding and Promoter Status

At the time of his passing, Mr. Goswami held 125,360 equity shares, representing 1.41% of the company's shareholding. His demise will result in his cessation from the Promoter/Promoter Group, as per Regulation 31A (6) (c) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Upcoming Annual General Meeting

Mr. Goswami was scheduled to retire by rotation at SICL's 33rd Annual General Meeting on September 19, 2025. However, due to his untimely demise, this agenda item will no longer be taken up at the meeting.

Company's Response

In an official statement, SICL expressed profound sadness over Mr. Goswami's passing, describing it as an "irreparable loss" to the company. The board of directors and employees conveyed their deep sympathy, sorrow, and condolences to his family.

Regulatory Compliance

SICL has made this announcement in compliance with Regulation 30 and 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has duly informed the BSE Limited about this development.

Management Transition

As the company comes to terms with this loss, attention will likely turn to the process of filling the crucial roles held by Mr. Goswami. The board will need to address the vacancies in the positions of Whole Time Director and Chief Financial Officer to ensure continuity in the company's operations and financial management.

SICL shareholders and market observers will be watching closely for any announcements regarding succession plans or interim arrangements for these key positions.

Suvidha Infraestate Corporation Limited , a company primarily engaged in residential and commercial construction, has reported its financial results for the first quarter and announced several key board decisions.

Financial Performance

The company reported a net loss of Rs 5.13 lakh for Q1, compared to a profit of Rs 6.25 lakh in the previous quarter. The financial results, which were approved by the Board of Directors on July 24, revealed that the company recorded zero revenue from operations during the quarter.

A breakdown of the financial results shows:

The company's expenses for the quarter primarily consisted of employee benefits expense of Rs 0.35 lakh and other expenses of Rs 4.78 lakh.

Board Decisions and Appointments

In the same board meeting, several key decisions were made:

1. New Director Appointment: The Board approved the appointment of Ms. Parul K. Gajjar as an Additional Director and Independent Non-Executive Director of the Company, effective September 1, for a five-year term. This appointment is subject to shareholder approval at the upcoming Annual General Meeting (AGM).

2. Secretarial Auditors: The company appointed M/s. Nishant Pandya & Associates as Secretarial Auditors for a term of five consecutive financial years, subject to shareholder approval.

3. Annual General Meeting: The 33rd AGM is scheduled for September 19, to be held via video conferencing.

4. Committee Reconstitution: The Board has reconstituted its Audit Committee, Nomination & Remuneration Committee, and Stakeholders Relationship Committee to reflect the changes in the Board of Directors.

Company Status

It's worth noting that Suvidha Infraestate Corporation disclosed having significant accumulated losses and is currently not carrying on any gainful economic activities. The management stated that there is no virtual certainty that these losses will be recouped in the foreseeable future.

The financial results were subject to a limited review by the statutory auditors, J M Parikh & Associates, Chartered Accountants, who found no material misstatements in the financial information provided by the company.

Investors and stakeholders will be watching closely to see how the company addresses its financial challenges and whether the new appointments and structural changes will help steer the company towards a more positive financial trajectory.