Omnipotent Industries Ltd — Board Meeting, 17-05-2025: Board Meeting

Omnipotent Industries Ltd. has announced a board meeting approving the financial results for the quarter and half-year ended March 31, 2025. The company reported a net loss of Rs. 424.60 lakh for the year, impacted by losses on sale of fixed assets and inventory write-offs. Promoters diluted shareholding by selling shares in the open market, raising governance concerns. The company received a GST show cause notice and paid Rs. 132 lakh under dispute, with no provision made pending resolution. Notably, all fixed assets and inventory have been sold, operations scaled down significantly, creating substantial doubt about the company’s ability to continue as a going concern. Independent Director Vikas Jain resigned and two new independent directors, Navneet Khare and Manoj Batham, were appointed subject to shareholder approval. The registered office will be shifted within Mumbai.