In one of the weirdest corporate filings in recent times, Milestone Furniture on June 7 informed the BSE that its financial statements are pending as the company’s chartered accountant has disappeared and is not picking up his phone!
In its board meeting held on May 25, 2023, “the Chairman told the board that the existing Chartered Accountant named CA Bhupendra Gandhi disappeared and is not answering the calls, so the financial statements are pending due to unavailability of financial data as well as the absence of persons-in charge of the data,” Milestone Furniture said in the filing.
The office furniture manufacturing company added that it is trying its best to resolve issue so that BSE as well as ROC compliance in this regard can be done at earliest.
Milestone Furniture got listed on BSE’s SME platform in 2018.
The board also took note of the resignation of Ganesh Kumar Sadanand Patlikadan as the CEO with effect from May 12. Patlikadan had submitted his papers on May 12 itself.
The board meeting on May 25 had seven items on agenda, including an EGM to be held on June 16 and change of the company’s registered office from Palghar to Mumbai, apart from the curious case of the missing CA.
Despite such weighty matters on its plate, the board meeting lasted just over 10 minutes.
“Board Meeting was commenced at 01:32 PM and concluded at 01:43 PM,” it noted.
Shares of the company were trading 3.95 percent down at Rs 6.80 in afternoon trade on June 7. The stock price has risen over 52 percent this year till date.
For the six-month period ended September 2022, the company has reported nil revenue, and a net loss of Rs 2.62 crore, as per information on BSE.
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