BF Utilities

Time Technoplast Limited announced that M/s. Khandelwal Jain & Co., one of its Joint Statutory Auditors, resigned citing resource constraints in auditing multiple factory locations. The auditing firm stated they were required to cover 23-24 plants within short timeframes, which strained their resources heavily given other client commitments. The Board approved the appointment of M/s. Raman S. Shah & Co. as the new Joint Statutory Auditor to replace the resigning firm. The Audit Committee confirmed no concerns or issues were raised by the outgoing auditors beyond the stated resource constraints. M/s. Raman S. Shah & Co., established in 1982, will serve for five consecutive years upon shareholder approval at the upcoming Annual General Meeting scheduled for September 11, 2025. The firm specializes in audit and advisory services across manufacturing sectors including pharmaceuticals, chemicals, polymers, textiles, logistics, and real estate.

Superior Industrial Enterprises Limited appointed Ms. Muskaan Suhag as Company Secretary & Compliance Officer and Mr. Gaurav Kumar Gupta as Independent Director, both effective August 13, 2025. The board also approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2025. Ms. Suhag is an Associate Member of the Institute of Company Secretaries of India with experience in corporate legal and regulatory compliance, having worked with T.T. Limited and DLF Group. Mr. Gupta is a Fellow Member of the Institute of Cost Accountants of India with an MBA in Finance, bringing expertise in taxation, finance, and cost management. The statutory auditors M/s S. Jain & Co. issued an unmodified opinion on the limited review report for the quarter.

Suyog Gurbaxani Funicular Ropeways Limited's Board approved the re-appointment of two directors retiring by rotation: Shivshankar Gurushantappa Lature and Omprakash Dwarkadas Gurbaxani, both for five-year terms effective August 14, 2025. Lature, a B.Com graduate with over two decades in infrastructure and telecom, serves as father to Non-Executive Director Suyash Lature. Gurbaxani, a founder member and promoter with 31 years in construction, is brother to Whole-time Director Rajkumar Gurbaxani. The company also re-appointed M/s. Amruta Giradkar & Associates as Secretarial Auditor for five consecutive years from FY 2025-26 to 2029-30. Both directors hold multiple directorships in other entities and are not debarred by any regulatory authority.

SAB Industries Limited announced key board appointments and quarterly results for the period ended June 30, 2025. The company appointed Ms. Priya Garg as Managing Director for a five-year term, effective August 13, 2025, subject to shareholder approval. Ms. Garg, who previously served as Managing Director from May 2019 to September 2021, is the daughter of Chairman Rajinder Kumar Garg. The company also appointed Mr. Taavissh Jain as Additional Director (Non-Executive-Non Independent), who is the maternal grandson of the Chairman. For the quarter ended June 30, 2025, SAB Industries reported standalone revenue from operations of Rs. 647.22 lakhs compared to Rs. 1,376.04 lakhs in the previous quarter. Net profit stood at Rs. 36.26 lakhs versus Rs. 14.10 lakhs in the prior quarter. The company's Annual General Meeting is scheduled for September 30, 2025, where these appointments will be placed for shareholder approval.

KG Petrochem Ltd's board meeting on August 13, 2025, approved unaudited financial results for the quarter ended June 30, 2025. The company appointed M/s. Arpit Vijay & Co. as Internal Auditor and M/s. ARMS & Associates LLP as Secretarial Auditor for five consecutive years from FY 2025-26 to FY 2029-30, subject to shareholder approval. The board approved appointments of three directors: Dilip Kumar Bhatia as Non-Executive Independent Director for five years (July 2025-July 2030), Sanjay Sharma as Executive Director effective July 2025, and re-appointment of Anand Mishra as Non-Executive Independent Director for a second term (February 2026-February 2031). All director appointments require shareholder approval. The company scheduled its 45th Annual General Meeting for September 18, 2025, at 12:00 PM at its Jaipur corporate office. The register of members will remain closed from September 12-18, 2025, with September 11, 2025, as the cut-off date for voting rights.

Choksi Laboratories Limited's Board of Directors approved the re-appointment of Mr. Vyangesh Choksi as Whole Time Director for a five-year term from September 1, 2025, to August 31, 2030. The decision was made following recommendations from the Nomination and Remuneration Committee during a board meeting held on August 13, 2025. The re-appointment is subject to shareholder approval at the upcoming General Meeting. Mr. Choksi is a promoter member of the company with experience in management and administration. He is related to other directors including Managing Director Mr. Sunil Choksi (father), Whole Time Director Mrs. Stela Choksi (mother), and Whole Time Director Ms. Himika Choksi (sister).

PTC India Financial Services Ltd received orders from the Regional Director dismissing all three appeals against Show Cause Notices issued by the Registrar of Companies. The company must pay penalties totaling Rs 6.40 lakh for violations during FY 2021-22. The violations include failing to facilitate Independent Directors in seeking professional legal advice (Rs 70,000 penalty), delays in sharing documents with Independent Directors for legal opinion (Rs 70,000 penalty), and failure to maintain prescribed composition of the Nomination and Remuneration Committee (Rs 5 lakh penalty). The company states there is no material impact on operations except for the penalty amount, for which provisions have already been created in the books of accounts.

SPEL Semiconductor Limited's board approved several key decisions on August 13, 2025. The company appointed Dr. G. Nagarajan as Additional Director while Dr. Enakshi Bhattacharya resigned as Independent Director. The board also approved M/s. S Dhanapal & Associates LLP as Secretarial Auditors for 5 years and authorized the sale of open land in factory premises, both subject to shareholder approval. The company released unaudited financial results for the quarter ended June 30, 2025, which received a qualified review from auditors due to material uncertainty about the company's ability to continue as a going concern, citing losses and negative cash flows. The company operates in integrated circuit manufacturing and assembly, with losses attributed mainly to old finished goods from the pandemic period. Management plans to address operational challenges through restructuring and land sale proceeds, while seeking government subsidies under the Compound Semiconductor Scheme.