Boston Commerce

Boston Commerce Ltd's board has approved a scheme of capital reduction that will cancel 66.52 lakh equity shares on a pro-rata basis, shrinking paid-up capital from ₹7.00 crore to just ₹35 lakh. The move is designed to offset past-year accumulated losses and present a clearer financial picture, with no cash being paid to shareholders for the cancelled shares. The board also appointed a new statutory auditor, secretarial auditor, internal auditor, and company secretary-cum-compliance officer. Other agenda items discussed at the 7 July meeting, including potential fundraising and promoter reclassification, have been postponed. The scheme now requires shareholder approval at a 5 August extraordinary general meeting and clearance from statutory and regulatory authorities.

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Boston Commerce Ltd informed the BSE that its board will meet on 7 July 2026 to consider a sweeping set of proposals, including raising up to ₹100 crore each year through equity, warrants or private placements through the financial year 2028‑29. The board will also deliberate on authorising inter‑corporate loans, related party transactions, and acquisitions of businesses or new segments each up to ₹100 crore annually over the same period. Separately, the board will consider a request from the promoters for reclassification from the promoter category to the public category, a proposed scheme of capital reduction, and the restructuring or disposal of non‑core assets. The meeting will also address auditor appointments and other administrative matters.

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July 8 (Reuters) - Boston Bio Systems Ltd BBSL.BO:

• VISHNUBHAI DESAI RESIGNS AS MANAGING DIRECTOR

• GHANSHYAM GAVALI APPOINTED AS MANAGING DIRECTOR

Source text: ID:nBSEc3FxJZ

Further company coverage: BBSL.BO

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