Regulatory30 May 2026, 10:41 pm
Riddhi Corporate Services: Deviation in Funds for FY26
AI Summary
Riddhi Corporate Services Ltd reported deviations in the utilization of funds raised through a public issue in 2017, as per Regulation 32 of SEBI guidelines. Funds initially allocated for Acquisitions and Strategic Initiatives were reallocated to operational expenditure. A preferential issue in 2023 showed no deviation in fund utilization. The Audit Committee reviewed these statements.
Key Highlights
- Riddhi Corporate Services reports deviation in utilization of funds from 2017 public issue.
- ₹218 Lakh deviation from Acquisitions to operational expenditure for salaries and employee costs.
- No deviation reported in the utilization of funds from the 2023 preferential issue.
- Unutilized amounts from the public issue are intended for modified objectives.
- Audit Committee reviewed the statement of deviation and variation.
Price Impact
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