BF Utilities Limited — Others, 29-05-2025: Resignation

BF Utilities has announced a board meeting to approve the financial results for the quarter and year ended March 31, 2025. The board appointed SVD & Associates as Secretarial Auditors for five years, Mr. Saurabh Jathar as Internal Auditor for FY 2025-26, and proposed Mr. Madan Umakant Takale as Additional Director, subject to shareholder approval. Chairperson Mr. B.N. Kalyani resigned, with Mr. A.B. Kalyani taking over. An amendment to the Insider Trading Code was approved. The company posted a ₹7.07 lakh profit for the quarter, but auditors gave a qualified opinion due to a ₹37 Cr interest-free advance to a subsidiary and related asset impairment concerns. A key subsidiary’s toll operations ended in September 2024, yet its investments remain sound given positive net worth and future plans.