Paramount Park Discloses Inter-se Share Transfer

Paramount Park Limited disclosed inter-se transfer of 62,29,200 shares in Thakral Services (India) Limited among promoter group under SEBI SAST regulations, increasing its shareholding to 74%.

Thakral Services: Paramount Park acquires 53.08% stake

Paramount Park Ltd announces inter-se transfer of 62,29,200 equity shares (53.08%) in Thakral Services (India) Limited at INR 13.80 per share under SEBI SAST exemption.

Thakral Services Reports Quarterly Loss Amid Going Concern Issues

Thakral Services (India) Limited reported unaudited financial results for the quarter and half-year ended September 30, 2025. The company has accumulated losses of Rs. 1,286.76 lakhs and negative net worth of Rs. 934.71 lakhs. Trade receivables stand at Rs. 378 lakhs. The company faces an EPFO recovery order of Rs. 60.36 lakhs, against which it obtained an interim stay by depositing Rs. 10 lakhs. Outstanding interest-free loans amount to Rs. 807.41 lakhs. The auditors issued a qualified review report citing concerns about EPFO liability treatment and IndAS 109 compliance for interest-free loans. The company's current business operations were transferred to Thakral Innovation Private Limited from October 2023. Management maintains going concern assumption based on expected future business prospects and support letters from shareholders and lenders.

Thakral Services Re-appoints Nirmala Sridhar as Managing Director, Names New Secretarial Auditor

Thakral Services (India) Limited shareholders approved the re-appointment of Mrs. Nirmala Sridhar as Managing Director for one year from October 1, 2025 to September 30, 2026. The 66-year-old ex-banker has 39 years of banking industry experience and has served as Managing Director since October 1, 2021. She holds qualifications including B.Sc (Hons), M.Sc (Ed) Life Sciences and MBA (HR). Additionally, shareholders appointed M/s. Somy Jacob & Associates as Secretarial Auditor for five consecutive years starting FY 2025-2026. The firm has over 18 years of experience in Company Law, SEBI Laws, and FEMA Laws. Both appointments were approved at the company's 42nd Annual General Meeting held on September 26, 2025.

Thakral Services Reports Loss, Faces Going Concern Issues Despite Board Approvals

Thakral Services (India) Limited's board approved unaudited financial results for the quarter ended June 30, 2025, showing a net loss of Rs 7.51 lakhs compared to a profit of Rs 0.03 lakhs in the previous quarter. Revenue from operations increased to Rs 14.33 lakhs from Rs 8.80 lakhs. The company has accumulated losses of Rs 1,275.67 lakhs and its net worth has been fully eroded. The board fixed the Annual General Meeting for September 26, 2025, and re-appointed Mrs. Nirmala Sridhar as Managing Director. The company transferred its current business operations to Thakral Innovation Private Limited effective October 1, 2023. Auditors issued a qualified conclusion citing concerns over an EPFO recovery order of Rs 60.36 lakhs and improper accounting of interest-free loans worth Rs 807.41 lakhs. The company also faces a tax demand of Rs 8.22 lakhs with interest and penalty.