Mukta Arts Limited — Others, 28-05-2025: Retirement

Mukta Arts has announced a board meeting to approve the financial results for the quarter and half-year. It appointed GAMS & Associates LLP as the new statutory auditor, replacing the retiring auditor, subject to shareholder approval. Mrs. Madhumati Ramchandra Lele joined as Additional Independent Director pending regularization, and Ms. Pratiksha Panchal was appointed Company Secretary. The Board approved a BHD 1,00,000 investment in its Bahrain subsidiary. The audit report carried a qualified opinion due to unresolved legal issues with joint venture Whistling Woods International, which has eroded net worth. Subsidiaries Mukta A2 Cinemas Ltd and Mukta A2 Multiplex W.L.L also face financial strain but management remains optimistic. Proper accounting and controls were confirmed, with some delays in statutory dues and ongoing litigation related to tax and service tax demands. No fraud or whistleblower complaints were reported. CSR obligations were fully met.