New Delhi: A company listed on BSE says that its Chartered Accountant (CA) has suddenly gone missing. Due to this, the company is getting delayed in finalizing its financial results. Milestone Furniture (Milestone Furniture) said this during the discussion on the financial results in the board meeting held on 25 May. The company told the stock market that its chairman told the board in this meeting that the company’s CA Bhupendra Gandhi has gone missing and is not answering calls. Due to this, the financial data of the company is not available. Due to this the financial result of the company has stopped. He added that the company is working hard to resolve the issue so that it can be compliant with BSE as well as RoC at the earliest.
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The Board also discussed the matter of the MD and Company Secretary of the Company. The company is looking for a suitable candidate for both the key roles, to work well towards organic growth. The resignation of Ganesh Kumar Sadanand from the post of CEO of the company was also considered in the board meeting.
This company was listed on 21 May 2018. The company entered the market at a price of Rs 45 per share. It raised Rs 15 crore through the IPO for working capital and capex for the manufacturing facility. On Friday, the company’s stock closed at Rs 6.46, down 0.15 per cent. Its 52 week high is Rs 14.40 and low is Rs 2.77. The market cap of the company is Rs 6.01 crore. The company’s long-term tangible assets have been declining steadily for the last three years. In FY2021 the company will spend Rs. A total revenue of 22 lakhs was recorded, while there were 4.5 crores in the account.
As of FY21, the promoters held 60 per cent stake in the company. Then something happened that in the financial year 2022, the promoter’s stake came down to 37 percent and by August 2022, all the shares of the company were with the retail investors.
