Neptune Logitek Board Approves Director Appointment and Acquisition of Shares in Devanshi Tradables
Neptune Logitek Limited, the company formerly known as Neptune Logitek Pvt. Ltd., announced key corporate approvals stemming from its Board of Directors meeting held on April 06, 2026. The board approved the appointment of new auditors and the addition of a Non-Executive Independent Director, alongside sanctioning the acquisition of shares in Devanshi Tradables Private Limited.The board's resolutions detailed several appointments crucial for the financial year 2025-26.
Auditor Appointments
The company approved the appointment of Ms. Ishali Desai, a Practicing Company Secretary and Proprietor of M/S. Ishali Desai & Associates, to conduct the secretarial audit for the financial year 2025-26.For the role of Internal Auditors, M/S. Sen & Ray, Chartered Accountants, was appointed for the same period. M/S. Sen & Ray is a chartered accountancy firm established in 1972.
New Director Appointment
The board also approved the appointment of Mr. Rushabh Anilkumar Shah (DIN:09012222) as an Additional Director. Mr. Shah will serve in the capacity of a Non-Executive Independent Director for a term of five consecutive years, commencing from April 06, 2026, subject to shareholder approval. Mr. Shah brings experience in corporate law, corporate governance, and risk management.Proposed Acquisition of Shares
In another significant development, the board approved the proposal to acquire shares of Devanshi Tradables Private Limited from Mrs. Reema Ankit Shah, who is a Director of the Company. These acquisitions will be subject to mutually agreed terms and final approval by the Audit Committee and the Board upon receipt of an Independent Valuation Report.The transaction is strategic, aligning with the company's interest in the Import-Export industry.
A table summarizes the details of the proposed share acquisition:
| Detail | Value |
|---|---|
| Target Company | Devanshi Tradables Private Limited |
| Proposed Share Capital | Rs. 1. Authorized Share Capital: Rs.25,00,000; Paid Up Share Capital: 20,00,000 |
| Acquisition Basis | Purchase of Equity Shares from Mrs. Reema Ankit Shah |
| Shares Acquired | 1,02,000 Equity Shares of Face Value of Rs. 10 each |
| Percentage Acquired | Representing 51 % Paid-up Equity Share Capital |
| Consideration Form | Cash / Bank, based on independent valuation report |
Devanshi Tradables Private Limited, incorporated on September 16, 2025, is engaged in the business of trading, importing, exporting, buying, selling, reselling, stocking, supplying, and distributing all kinds of goods, products, commodities, merchandise, and articles. The transaction involving Mrs. Reema Shah falls under the purview of Related Party Transactions and will be conducted at arm's length.
Stock Price Movement
At the close of trade Monday, Neptune Logitek Ltd settled at ₹50.00, registering no movement for the day. Throughout the session, the shares traded completely flat, holding steady between an intraday low of ₹50.00 and an intraday high of ₹50.00.Source:
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