Rapid Investments News

Rapid Investments Reports Quarterly Loss and Significant Investment Decline

Rapid Investments Limited reported unaudited financial results for the quarter and half year ended September 30, 2025, showing a net loss before tax of Rs 30.75 lakhs and a substantial decrease in investments from Rs 4,002.80 lakhs to Rs 885.15 lakhs. The Board of Directors approved these results in their meeting held on November 14, 2025, with the company's cash and cash equivalents increasing from Rs 1.99 lakhs to Rs 6.98 lakhs during the period.

Rapid Investments Limited Appoints NNK Co. as Statutory Auditors Through Postal Ballot

Rapid Investments Limited shareholders approved the appointment of M/s. NNK Co., Chartered Accountants (FRN: 143291W), as statutory auditors to fill a casual vacancy caused by the resignation of M/s. Valawat Associates. The ordinary resolution was passed through remote e-voting conducted from October 6 to November 4, 2025, with the cut-off date set as September 30, 2025. The voting results showed 9 members voted in favor with 1,469,931 votes (100% of valid votes cast), while no votes were cast against the resolution. The postal ballot notice was dated October 3, 2025, and the voting was conducted electronically through Central Depository Services (India) Limited (CDSL). Pankaj S Desai served as the scrutinizer for the postal ballot process. Nina Ranka, Managing Director, communicated the results to BSE on November 5, 2025.

Rapid Investments Limited Issues Postal Ballot Notice for Statutory Auditor Appointment

Rapid Investments Limited has issued a postal ballot notice to shareholders for electronic voting from October 6 to November 4, 2025. The company seeks shareholder approval to appoint M/s. NNK & Co., Chartered Accountants (FRN: 143291W) as statutory auditors to fill a casual vacancy caused by the resignation of M/s. Valawat & Associates. The previous auditors resigned citing disagreement over fee revision requests. M/s. NNK & Co. will be appointed at a remuneration of Rs. 60,000 per annum plus certification and tax audit fees, excluding GST, with reimbursement of out-of-pocket expenses. The appointment will be effective from October 3, 2025, until the conclusion of the next Annual General Meeting in calendar year 2026. The cut-off date for voting eligibility is September 30, 2025, and results will be declared by November 6, 2025. Mr. Pankaj Desai has been appointed as scrutinizer for the postal ballot process.

Rapid Investments Limited's Statutory Auditors Resign Over Fee Dispute

Rapid Investments Limited announced the resignation of its statutory auditors, Valawat & Associates, Chartered Accountants, effective September 29, 2025. The auditors cited unresolved fee revision requests as the primary reason for their departure. Over the past year, the auditing firm had requested professional fee increases through calls, discussions, and formal meetings with the Board of Directors, citing substantial increases in business operations, growing compliance complexities, and additional audit responsibilities. However, management did not accept the proposed fee revision, making it difficult for the auditors to continue under existing arrangements. The auditors expressed appreciation for the opportunity to serve the company and committed to providing assistance for a smooth transition.

Rapid Investments Limited Approves Q2 2025 Financial Results and Sets 47th AGM for September 29

Rapid Investments Limited's Board of Directors approved unaudited financial results for the quarter ended June 30, 2025, during a meeting held on August 12, 2025. The company reported total income of Rs. 57.82 lakhs and net profit of Rs. 15.85 lakhs for the quarter. The Board recommended the reappointment of Mrs. Nina Ranka as Director and scheduled the 47th Annual General Meeting for September 29, 2025, at 9:00 AM through video conferencing. Key appointments include Mr. Neel Kumar Jain as Internal Auditor for 2025-26 and Mr. Pankaj S. Desai as Secretarial Auditor for five years from 2025-26 to 2029-30. The company's register of members will remain closed from September 22-29, 2025, with September 22 set as the cut-off date for e-voting eligibility. E-voting will be available from September 26-28, 2025.