Skyline Ventures India Ltd

Skyline Ventures India Ltd has received an order from the Hon'ble High Court for the State of Telangana directing the Registrar of Companies (ROC), Telangana, to consider the company's representations for updating MCA records and processing DIR-12 and connected statutory filings. The court order, dated August 13, 2026, mandates the ROC to act within two weeks of receiving the order. The company had filed a writ petition seeking administrative steps to enable director/company secretary onboarding on the MCA21 portal and to update its records. Skyline Ventures will cooperate with the ROC to furnish necessary documents.

Skyline Ventures India Ltd has announced that its board will convene to consider the unaudited financial results for the quarter ended June 30, 2026. The trading window for dealing in the company's securities will be closed from July 01, 2026, until 48 hours after the results are declared. This closure applies to directors, promoters, designated employees, and specified connected persons, in compliance with SEBI regulations. The exact date of the board meeting will be communicated later.

Skyline Ventures India Ltd has announced a delay in submitting its financial results for Q2, Q3, and Q4 of FY 2025-26, citing significant disruptions. The primary reasons include recent changes in the Board of Directors and Key Managerial Personnel, leading to a lack of cooperation in document handover and operational transitions. The company also alleges wilful default by previous directors for non-publication of Q2 results. Furthermore, technical issues with MCA portal updates and preliminary detection of fraudulent transactions, including unsecured borrowings and questionable payments, have necessitated the filing of an FIR and the appointment of forensic auditors. These issues have caused a standstill in company operations, including banking and statutory compliances.

Skyline Ventures India Ltd's board meeting addressed the resignation of Statutory Auditor M/s K S Rao & Associates, effective May 27, 2026, and approved the appointment of M/s B N Pai & Co., Chartered Accountants, as the new Statutory Auditors, subject to shareholder approval. The board also reviewed the acquisition of SPVO Two Point O Ventures Tech Private Limited, making it a wholly-owned subsidiary. Additionally, the board reviewed pending financial results, NCLT proceedings, and interim forensic audit reports.

M/s K S Rao & Associates, the statutory auditors of Skyline Ventures India Limited, have resigned effective May 27, 2026. The resignation stems from the company's failure to provide essential books of account, financial information, and supporting records necessary for completing the limited review for Q2, Q3, Q4 of FY2025-26 and the statutory audit for FY2025-26. The auditors cited a significant governance breakdown, including the non-adoption of FY2024-25 financial statements by shareholders, lack of handover from erstwhile management, and admitted non-availability of critical records. Issues such as a vacated registered office, missing assets, incomplete banking access, and unauthorized transactions (leading to an FIR) were highlighted. The company secretary confirmed "practical limitations and incomplete access to information," making audit completion uncertain. Consequently, the auditors were unable to obtain sufficient appropriate audit evidence to comply with SEBI (LODR) Regulations, 2015, particularly the deadline for submitting annual audited financial results.

Skyline Ventures India Ltd has filed an FIR (No. 542/2026) against former directors Mr. Prashanth Mitta, Ms. Asha Mitta, and associates for alleged fraud. A preliminary review identified a suspected fraud involving an unsecured loan of approximately ₹1.78 Crores obtained from Raj Breeders and Hatcheries Private Limited under the pretext of a questionable work order from Verrkotech Solutions Private Limited. The company alleges that funds were diverted to personal accounts of former directors and associates, and that financial statements were potentially altered. These actions, which were not disclosed to shareholders or the stock exchange, have led to significant financial stress for the company and a potential insolvency petition.

Skyline Ventures India Ltd has announced the closure of the trading window for the quarter and year ended 31st March, 2026. This closure is in accordance with the Skyline Ventures India Limited - Code for Prohibition of Insider Trading and SEBI (Prohibition of Insider Trading) Regulations, 2015. The trading window will remain closed for all Directors, Promoters, Designated Employees/ Persons and Specified Connected Persons of the Company from April 01, 2026 until 48 hours after the declaration of Audited Financial Results for the Quarter and Year ended March 31, 2026. The date of the Board Meeting for the consideration and approval of the Audited Financial Results for the Quarter and Year ended March 31, 2026 will be intimated later.

The Board of Directors of Skyline Ventures India Limited, in a meeting held on Wednesday, 11th March, 2026, approved the proposal to acquire 100% of the equity share capital of SPVO Two Point O Ventures Tech Private Limited for a total consideration of ₹ 31,00,000. The company also seeks members' approval for increasing borrowing powers, selling or disposing of the whole or substantially the whole of the undertaking, making investments, and permitting Non-Resident Indians to hold up to 24% of the paid-up capital. The meeting also discussed the challenges faced by the company, including operational issues and pending financials, and authorised the initiation of investigation against concerned stakeholders. The meeting concluded at 8:45 PM.

Skyline Ventures India Ltd has announced the resignation of its Chief Financial Officer, Mrs. Swapna Tervati, effective from 1st January 2026. The resignation will be placed before the board in the upcoming board meeting. Mrs. Tervati is requested to extend her full cooperation to ensure a smooth, compliant, and orderly transition. Certain critical statutory and regulatory matters are pending and will be handled by the previous directors and board members.

Skyline Ventures India Ltd announced the appointment of Mr. Kanukollu Janaki Rama Lakshmana Rao as the Company Secretary and Compliance Officer in a recent Board Meeting held on 20th January 2026. Mr. Rao is an accomplished Legal and Compliance Counsel with over 25 years of experience in contract law, regulatory compliance, vendor negotiations, and corporate governance. He has expertise in International laws, contract law and has a strong background in various cross-border assignments. Mr. Rao has a proven track record of supporting cross-border legal operations, drafting and reviewing commercial contracts, and advising executive leadership on legal risks, performance disputes, and compliance strategies. He has demonstrated success in pre-IPO, listed, and multinational entities. Mr. Rao has set up end-to-end operations/statutory/FEMA compliances of a BPO company in India which is a subsidiary to a Belgium-based company (Corsendonk BV) and has set up a subsidiary company in Ethiopia for Jeevan Polymers Pvt Ltd.