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

Mukta Arts has announced a board meeting to approve the financial results for the quarter and half-year along with key corporate decisions. The Board appointed GAMS & Associates LLP as the new Statutory Auditors for five years, replacing the retiring auditor, and re-appointed KDA & Associates and Garg Devendra & Associates as Secretarial and Internal Auditors. Mrs. Madhumati Ramchandra Lele was appointed as an Additional Independent Director, subject to shareholder approval, and Ms. Pratiksha Panchal appointed as Company Secretary. The Board approved a BHD 1,00,000 investment in subsidiary Mukta A2 Multiplex W.L.L. Audits included qualified opinions due to ongoing litigation involving Whistling Woods International Limited, resulting in disputed liabilities and net worth erosion, but the company continues as a going concern without impairing related investments or loans. Subsidiaries also reported net worth erosion and losses, with management confident about future viability. Minor delays in statutory dues occurred, no fraud or whistleblower issues were reported, and internal controls were maintained effectively.