Lykis Ltd Changes Name to Krowniq Limited; Announces Key Leadership Appointments and Governance Limits

Lykis Ltd Changes Name to Krowniq Limited; Announces Key Leadership Appointments and Governance Limits​

Lykis Ltd has made several pivotal decisions regarding its corporate structure, leadership appointments, and operational governance following a recent Board meeting. Among the key announcements is the planned name change of the company from Lykis Limited to Krowniq Limited, which requires consequential amendments to its Memorandum and Articles of Association, pending member approval at the ensuing AGM.

The board meeting also approved significant changes relating to the company's management and compliance framework.

Leadership Appointments and Director Regularizations​

Several key personnel were appointed or regularized during the meeting:

• Mr. Jitendra Kumar Ranka was appointed as Chairman & Managing Director of the company, effective May 25, 2026. Mr. Ranka holds a qualification from the Rajasthan Board and has over 15 years of experience in Real Estate Business, securities market, including trading and investment in shares and other capital market instruments.
• Mr. Nishant Nathmal Bajaj was regularized as a Non-Executive Director, effective May 25, 2026. Mr. Bajaj is a Law Graduate, Bachelor of Commerce, and an active consultant providing advisory and compliance services under corporate laws.
• Ms. Kinjal Bhavin Gandhi was regularized as an Independent Director (Non-Executive Category), effective April 22, 2026. Ms. Gandhi is described as a seasoned banking and finance professional with experience in client relationship management across various financial institutions.
• Ms. Radhika Amit Agarwal was regularized as an Independent Director (Non-Executive Category), effective April 22, 2026. Ms. Agarwal is a qualified Company Secretary with nearly nine years of experience in corporate law and secretarial compliance.

Auditing and Operational Changes​

The meeting addressed the appointment of statutory and internal auditors, alongside major changes to the company’s charter:

• Statutory Auditors: J A S S & Co LLP was re-appointed as the statutory auditor for a second term of five consecutive years. This tenure begins from the conclusion of the 42nd Annual General Meeting (AGM) and extends until the 47th AGM, subject to member approval.
• Internal Auditors: M/s K T P S & Co, Chartered Accountants, were appointed as the Internal Auditors for the Financial Year 2026-2027.
• Constitutional Alterations: The company will alter its Main Object Clause (III)(A) of its Memorandum of Association. Additionally, the board approved the re-adoption of both the amended Memorandum and Articles of Association to align with evolving regulations from the Ministry of Corporate Affairs and SEBI.

Financial Limits and Related Party Transactions​

The Board set several limits for corporate actions under specific sections of the Companies Act, 2013:

• Limits for selling or disposing of substantially all assets/undertakings were set up to Rs 100 crore.
• Borrowing limits were capped at Rs 100 crore.
• The limit for loans, investments, guarantee or security under section 185 was set up to Rs 200 Crore.
• Limits for granting a loan, making an investment, or giving a guarantee under section 186 were established up to Rs 200 Crore.

Related Party Transactions (RPT)

The company approved various transactions with related parties. The material terms and value of these ongoing business arrangements are detailed below:

Annual Meeting Approvals​

The board also approved key items for the forthcoming 42nd Annual General Meeting, including fixing the date, time, and venue of the meeting, approving the notice of the AGM, appointing a scrutinizer, and setting the Book Closure date for the company’s annual general meeting.

Stock Price Movement​

At the close of trade on Monday, Lykis Ltd shares declined to ₹45.90, marking a 0.13% drop for the day. The stock traded through an intraday range defined by a low of ₹45.65 and a high of ₹48.90.