Boston Commerce Ltd Approves Share Capital Reduction Scheme
Boston Commerce Limited's Board of Directors met on July 7, 2026, and approved a Scheme of Arrangement for Reduction of Share Capital due to accumulated business losses. This scheme will be presented to shareholders for approval at an Extraordinary General Meeting (EGM) scheduled for August 5, 2026. The company also approved the appointment of CS Krupa Romil Shah as Secretarial Auditor, S Parth & Company as Statutory Auditors, and Nisarg Shah as Internal Auditors for FY 2026-27. Additionally, Ms. Deshna Jain was appointed as Company Secretary and Compliance Officer (KMP). The company clarified that prior stock exchange approval is not required for the share capital reduction as it uniformly writes off losses against share capital.
Key Highlights
- Board approved a Scheme of Reduction of Share Capital due to accumulated losses.
- Scheme requires shareholder approval at an EGM on August 5, 2026.
- Appointments of Secretarial, Statutory, and Internal Auditors approved.
- Ms. Deshna Jain appointed as Company Secretary and Compliance Officer.
- No prior stock exchange approval needed for capital reduction scheme.
Price Impact
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