Ikab Securities hits the roof on appointing Madhusudan Kela as MD

11 Mar 2022 , 12:24 PM

The board has also approved the appointment of Subhash Sheoratan Mundra as an additional non executive independent director & chairman of the company with immediate effect.

The board acknowledged and approved the resignation of Indra Kumar Bagri as chairman & director, Anil Bagri as director, Abhishek Bagri as wholetime director & director and Prerit Damani as independent director & director.

The board has accepted the resignation of Devang Dani as chief financial officer of the company.

In view of change in the management, the board has proposed to change the name of the company to MK Ventures or any other name as may be approved and in that respect it would seek the approval of the shareholders of the Company, and which shall further be subject to the approval of Reserve Bank of India, Registrar of Companies, and all other concerned authorities.

Ikab Securities & Investment is a non-deposit taking NBFC, engaged in the NBFI business.

The company reported a net profit of Rs 0.38 crore in the quarter ended December 2021 as against net loss of Rs 0.04 crore during the previous quarter ended December 2020. Sales rose 176.97% to Rs 4.57 crore in Q3 FY22 from Rs 1.65 crore in Q3 FY21.

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