Race Eco Chain Ltd

Race Eco Chain Limited has invested INR 1,02,00,000 in its subsidiary, Ganesha Recycling Chain Private Limited, through a rights issue. The investment secured 1,02,000 equity shares, maintaining Race Eco Chain's 51% ownership. Ganesha Recycling Chain Private Limited, incorporated on September 10, 2024, operates in the recycling industry and is an Indian company. The investment is part of Race Eco Chain's corporate objective to expand its business. The transaction is considered a related party transaction and was conducted on an arm's length basis.

Race Eco Chain Ltd announced the re-appointment of Mr. Sunil Kumar Malik as Managing Director for a term of 3 years, effective October 2, 2026, until October 1, 2029. This decision was approved by the Board of Directors following recommendations from the Nomination and Remuneration Committee and is subject to shareholder approval. The Board also approved the appointment of M/s. Modi Harsh & Co. as Internal Auditors for FY 2026-2027 and M/s. Akshay Singhla & Associates as Statutory Auditors for a five-year term. Additionally, the Board considered and approved the standalone and consolidated un-audited financial results for the quarter ended June 30, 2026, and the Annual Report for FY 2025-2026, setting the AGM date for September 26, 2026.

Race Eco Chain Ltd announced key appointments following a Board of Directors meeting held on August 12, 2026. M/s. Modi Harsh & Co. has been appointed as the Internal Auditor for the Financial Year 2026-2027. Additionally, M/s. Akshay Singhla & Associates have been appointed as Statutory Auditors for a term of five years, commencing from the conclusion of the 26th AGM until the 31st AGM, subject to shareholder approval. The Board also approved the re-appointment of Mr. Sunil Kumar Malik as Managing Director for three years from October 2, 2026. The company also considered and approved standalone and consolidated un-audited financial results for the quarter ended June 30, 2026.

Race Eco Chain Ltd announced key board decisions including the appointment of M/s. Akshay Singhla & Associates as Statutory Auditors for a five-year term, subject to shareholder approval. The board also approved the appointment of M/s. Modi Harsh & Co. as Internal Auditors for FY2026-2027. Additionally, Mr. Sunil Kumar Malik was re-appointed as Managing Director for three years from October 2, 2026. The company also approved the Annual Report for FY2025-2026 and set the AGM date for September 26, 2026. The board meeting also considered and approved the standalone and consolidated un-audited financial results for the quarter ended June 30, 2026.

Race Eco Chain Ltd's Board of Directors convened on August 12th, 2026, approving the standalone and consolidated un-audited financial results for the quarter ended June 30, 2026. The board also approved the appointment of M/s. Modi Harsh & Co. as Internal Auditors for FY 2026-2027 and M/s. Akshay Singhla & Associates as Statutory Auditors for a five-year term. Additionally, Mr. Sunil Kumar Malik's re-appointment as Managing Director for three years, effective October 2, 2026, was approved, along with the Annual Report for FY 2025-2026 and the AGM date of September 26, 2026. The limited review report from M/s Garg Arun & Associates was also enclosed.

Race Eco Chain Ltd's Board of Directors convened on August 12, 2026, approving the standalone and consolidated un-audited financial results for the quarter ended June 30, 2026, along with the limited review report. The board also appointed M/s. Modi Harsh & Co. as Internal Auditors for FY 2026-2027 and M/s. Akshay Singhla & Associates as Statutory Auditors for a five-year term, subject to shareholder approval. Additionally, Mr. Sunil Kumar Malik was re-appointed as Managing Director for three years, effective October 2, 2026, pending member approval. The Annual Report for FY 2025-2026 was approved, and the AGM is scheduled for September 26, 2026.

Race Eco Chain Ltd has revised the effective date for Prime Industries ceasing to be an associate company from June 30, 2026, to July 1, 2026. This follows the settlement of a divestment transaction where Race Eco Chain sold 2,10,000 equity shares (0.99% of share capital) in Prime Industries on June 30, 2026. The settlement on July 1, 2026, resulted in Race Eco Chain losing significant influence over Prime Industries. The transaction was a related party transaction conducted at arm's length, with a consideration of ₹88,53,600. Prime Industries contributed 53.58% to consolidated income and 17.65% to net worth as of March 31, 2026.

Race Eco Chain Ltd has announced a Board of Directors meeting scheduled for August 12th, 2026. The primary agenda is to consider and approve the Unaudited Standalone and Consolidated Financial Results for the quarter ending June 30th, 2026. Additionally, the board will discuss the appointment of Statutory and Internal Auditors, and the re-appointment of the Managing Director. The company has also stated that the trading window for its securities will be closed until 48 hours after the meeting concludes.

Race Eco Chain Ltd has announced it is extending a corporate guarantee to its material subsidiary, Silverline Eco Thrive Limited. This guarantee is in relation to a credit funding facility sanctioned by the Bank of India, amounting up to ₹4,97,00,000 (Rupees Four Crore Ninety Seven Lac Only). The company has stated that none of its promoters or promoter group have any interest in this transaction, except for a common directorship held by Mr. Pranav Vasan for corporate governance compliance. The transaction is conducted on an arm's length basis. The guarantee is for the subsidiary and is part of the consolidated group. Currently, there is no impact on Race Eco Chain Ltd, other than the required financial statement disclosure.

Race Eco Chain Limited has invested INR 1,17,30,000 in its subsidiary, Ganesha Recycling Chain Private Limited, through a rights issue. This investment adds 1,17,300 equity shares to Race Eco Chain's holdings, maintaining its 51% ownership stake. The subsidiary, incorporated on September 10, 2024, operates in the recycling industry in India. The investment is part of Race Eco Chain's corporate objective to expand its business. The transaction is considered a related party transaction but is conducted on an arm's length basis, with no interest from promoters or promoter groups in the acquired entity.