Radha Madhav Corporation Limited Certifies Non-Applicability of Governance Reporting Based on Financial Metrics
Radha Madhav Corporation Limited has confirmed that certain Corporate Governance requirements are not applicable to the company, based on its paid-up capital and net worth falling below specified thresholds over the last three financial years.The assessment indicates that both the company's Paid-up Capital and Net Worth do not exceed Rs. 10.00 Crores and Rs. 25.00 Crores, respectively. This status makes compliance with specific corporate governance provisions non-mandatory for the entity.
Financial data provided by the Practicing Company Secretary shows the performance metrics across the three financial years:
| Particulars | F.Y. 2025-26 (Amount in 'Million') | F.Y. 2024-25 (Amount in 'Million') | F.Y. 2023-24 (Amount in 'Million') |
|---|---|---|---|
| Paid-up Share Capital | 78.10 | 78.10 | 78.10 |
| Other Equity (Reserves & Surplus) | (67.00) | (62.96) | (63.72) |
| Net-Worth as per Audited Financial Statement [1+2] | (11.10) | (15.14) | (14.38) |
The findings confirm that the company’s paid-up capital and net worth remain below the relevant thresholds, thereby concluding non-applicability of the corporate governance requirements.
Furthermore, it is noted that the Company was previously under Corporate Insolvency Resolution Process (CIRP), a status established by the Hon'ble NCLT Mumbai Bench order dated October 22, 2020, and remained under the control of a Resolution Professional until August 1, 2022. These past circumstances relate to periods where specific provisions regarding listed entities undergoing corporate insolvency resolution were also not applicable.
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