Smaart Tech Services

Smaart Tech Services received a demand notice from Kripa Anand Rishi Cellular Private Limited seeking repayment of Rs129.50 crore of principal plus interest at 9.83% a year from 2 June within 10 days. The notice, received by email on the morning of 17 September, threatened legal action on failure to pay, and the company said it was evaluating the notice and would discuss an amicable resolution or time extension. The demand followed a Rs15.84 crore repayment demand from Unbounded Opportunities Fund SPC on 15 September after June assignments that transferred borrowings to new lenders. The company's operating revenue was nil in the June quarter, with total income of Rs4.35 lakh, and it reported no production since FY16. Accumulated losses stood at Rs196.54 crore at the end of the June quarter, while borrowings were Rs141.26 crore at the end of March.

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Smaart Tech Services received a demand notice on 15 September 2026 from Unbounded Opportunities Fund SPC seeking repayment of inter-corporate loan principal of Rs 15.84 crore plus estimated interest of Rs 27.93 lakh. The principal and interest were due on 31 December 2026, and the notice warned of appropriate legal action in case of failure to repay. The loan was part of borrowings assigned to the fund with effect from 2 June 2026. The company reported nil operating revenue in the June quarter, with total income of Rs 4.35 lakh and a loss of about Rs 5.76 crore. Accumulated losses stood at Rs 196.54 crore, while borrowings were about Rs 141.26 crore at the end of March.

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Sharp India shareholders approved the appointments of Anant Raghute as a non-executive director and managing director for three years from 5 June 2026 to 4 June 2029. The postal ballot also approved Sandeep Deshmukh and Salil Halve as non-executive directors, and Yashavant Avatade, Sanjeev Mahajan and Bhakti Hosalkar as independent directors. Smart Services acquired a 75% controlling stake in Sharp India in June, replacing Sharp Corporation Japan as promoter. Sharp India reported nil operating revenue and a ₹5.76 crore loss in the first quarter of FY27, with accumulated losses of ₹196.54 crore.

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Sharp India Limited has received an order worth ₹7.93 crore from Energygov Manpower Agency India Private Limited for the supply of machinery, accessories, and equipment. The order is to be executed within one month, with payment due upon submission of e-way bills and tax invoices. The company confirmed that the transaction is domestic and does not involve promoter or related-party interests.

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July 1 (Reuters) - Sharp India Ltd SHPI.BO:

• GETS ORDER FOR 79.3 MILLION RUPEES

Source text: ID:nnAZN4T5FL9

Further company coverage: SHPI.BO

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June 5 (Reuters) - Sharp India Ltd SHPI.BO:

• SHARP INDIA - MAKARAND DATE RESIGNS AS MANAGING DIRECTOR EFFECTIVE 5 JUNE 2026

• SHARP INDIA - APPOINTS PADMINI URANE AS CHIEF FINANCIAL OFFICER EFFECTIVE 16 JUNE 2026

• SHARP INDIA - JAIDEEP PALSULE RESIGNS AS CHIEF FINANCIAL OFFICER EFFECTIVE 5 JUNE 2026

• SHARP INDIA - APPOINTS ANANT RAGHUTE AS MANAGING DIRECTOR EFFECTIVE 5 JUNE 2026

Source text: ID:nBSE4KHSv4

Further company coverage: SHPI.BO

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Jan 25 (Reuters) - Sharp India Ltd SHPI.BO:

• APPOINTMENT OF JAIDEEP PALSULE AS CHIEF FINANCIAL OFFICER

• RESIGNATION OF MASAHIKO NAKAGAWASAI FROM DIRECTORSHIP- MANAGING DIRECTOR

• APPOINTMENT OF MAKARAND DATE AS MANAGING DIRECTOR

Source text for Eikon: ID:nBSE29NQNX

Further company coverage: SHPI.BO

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Nov 9 (Reuters) - Sharp India Ltd SHPI.BO:

• RE- APPOINTS MASAHIKO NAKAGAWASAI AS MD

• CFO SUNIL SANE RESIGNS

Source text for Eikon: ID:nBSE53fmvZ

Further company coverage: SHPI.BO

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