Virtual Global Education Limited has announced the resignation of Mr. Rahul Mishra from his position as Independent Director, effective from the close of business hours on January 19, 2026. The company informed BSE Limited about this development on January 20, 2026, in compliance with regulatory requirements.

Resignation Details

The resignation was submitted due to personal reasons, as stated in the official communication to the stock exchange. Mr. Mishra, who holds Director Identification Number (DIN) 01153325, has confirmed that there are no other material reasons for his resignation beyond those mentioned in his resignation letter.

Regulatory Compliance

The company has fulfilled its obligations under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure includes all required information as per Schedule III of the regulations and SEBI Master Circular dated November 11, 2024.

Key Disclosures

As part of the mandatory disclosure requirements, the company has provided comprehensive information about the directorship change:

• Other Directorships: Mr. Mishra holds no directorships in other listed entities
• Board Committees: No memberships in board committees of other listed companies
• Material Reasons: Confirmed absence of any material reasons beyond personal circumstances
• Documentation: Complete resignation letter with detailed reasons has been submitted

Company Information

Virtual Global Education Limited is listed on BSE with scrip code 534741 and ISIN INE247C01023. The company's registered office is located at RG Trade Tower, Netaji Subhash Place, Pitampura, Delhi. The resignation notification was signed by Prasanna Laxmidhar Mohapatra, Whole-Time Director of the company.

The board accepted the resignation on January 20, 2026, and will take necessary steps to file required forms with the Registrar of Companies to formalize the directorship change.

Virtual Global Education Limited has announced its quarterly results for Q3FY26 ended December 31, 2025, showing a turnaround to profitability despite ongoing auditor concerns and documentation issues that continue to affect the company's financial reporting.

Q3FY26 Financial Performance

The company reported a significant improvement in its financial performance for the quarter:

For the nine months ended December 31, 2025, the company reported a net loss of ₹10.84 lakh compared to ₹35.78 lakh loss in the corresponding period last year.

Board Meeting Outcomes and Major Warrant Conversion

The Board of Directors meeting held on January 14, 2026, approved several key decisions including a significant warrant conversion:

The newly allotted equity shares rank pari-passu with existing equity shares, with remaining convertible warrants to be considered for conversion within 15 days of receiving balance amounts.

Persistent Auditor Concerns

The auditor's review report highlighted continuing issues that have affected the company since previous quarters:

Financial Irregularities

The auditor reiterated concerns about fraudulent activities by former CFO Mr. Ankit Sharma, involving misappropriation of ₹88.17 lakh through fictitious payments and unauthorized fund transfers. The amount remains unrecovered with no provision made in financial statements.

Documentation Issues

Several transactions lack adequate supporting documentation:

IPO Proceeds Compliance

Despite the ongoing concerns, Virtual Global Education confirmed no deviations in IPO proceeds utilization, stating funds were used as per the prospectus requirements under Regulation 32 of SEBI Listing Regulations.

Leadership Structure

The company continues to operate under the leadership changes implemented in November 2025, with Mr. Prasanna Mohapatra serving as Whole Time Executive Director and Mr. Navneet Kumar Mishra as Company Secretary and Compliance Officer.

While the company has achieved a quarterly profit turnaround and completed a major warrant conversion, the persistent auditor concerns regarding financial irregularities and documentation issues continue to pose challenges for stakeholder confidence and regulatory compliance.