Gravity (India) News

Gravity India Rights Issue Committee Meet on April 1

Gravity India Limited schedules Rights Issue Committee meeting for April 1, 2026 to determine issue price and terms for Rs. 70 crore rights offering to eligible shareholders.

Gravity (India) Limited Responds to Auditor Qualifications on September 2025 Quarterly Results

Gravity (India) Limited provided management responses to six auditor qualifications in its Limited Review Report for the quarter ended September 30, 2025, including issues with Rs. 2,036.40 Lakhs income verification, non-compliance with accounting standards for gratuity and lease obligations, and delayed TDS deposits. The company stated it has initiated corrective measures and expects to complete compliance processes, while confirming receipt of delayed receivable confirmations and filing necessary forms for MOA amendments.

Gravity India Reports Qualified Financial Results with Auditor Concerns Over Income Verification

Gravity India Limited reported revenue of ₹2,036.40 lakhs for the quarter ended September 30, 2025, but auditors issued a qualified opinion citing inability to verify receivables and non-compliance with accounting standards. The auditors raised concerns about trading activities not aligning with company objectives, missing gratuity provisions, and non-recognition of lease liabilities under IndAS requirements.

Gravity (India) Limited Approves Sale of Silvassa Property, Schedules 38th AGM

Gravity (India) Limited's board approved the sale of company property comprising land and factory building located at Survey No.10/1, Village Khutali, Khanvel, Dudhani Road, Silvassa, subject to shareholder approval. The board also scheduled the 38th Annual General Meeting for September 30, 2025, via video conference. Other key decisions include appointing CA Kamlesh Dave, DDM & Associates as statutory auditor for five years (2025-26 to 2029-30), regularizing appointments of four directors including Managing Director Manoj Kanhiyalal Ramavat, and approving changes to the company's object clause to expand business activities in IT services, software development, and electronic devices trading. The board also approved related party transactions and material related party transactions, both subject to shareholder approval.