Luxury Time Ltd (544635)

Luxury Time Limited has appointed Mr. Muhammad Akaram as its Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective November 03, 2026. Mr. Akaram brings over 10 years of experience in accounting, GST compliance, and financial reporting. He has been associated with the company since October 2017 via SBT Consulting Services as a Senior Accountant. The appointment comes as the company manages an annual revenue base of ₹59.99 crore in FY26.

• Appointment of Mr. Muhammad Akaram as CFO and KMP effective November 03, 2026
• Appointee possesses over 10 years of experience in accounting operations and financial reporting
• Previously associated with Luxury Time Limited as Senior Accountant since October 2017 via SBT Consulting Services

Luxury Time Limited reported a statement of deviation in the utilization of its ₹14.99 Crore IPO proceeds for the quarter ended September 30, 2026. Shareholders approved revisions to the issue objects via a Special Resolution passed on September 25, 2026. Allocation for setting up four retail stores directly was revised from ₹281.76 Lakhs to ₹300.00 Lakhs, while working capital was modified to strategic investments/acquisitions with allocation revised from ₹900.00 Lakhs to ₹1,000.00 Lakhs. Crucially, zero funds (Nil) from the IPO proceeds had been utilized as of September 30, 2026.

• Total funds raised through the IPO on December 11, 2025: ₹14.99 Crores
• Shareholder approval for modified objects secured via special resolution on September 25, 2026
• Allocation for 4 retail stores increased from ₹281.76 Lakhs to ₹300.00 Lakhs directly under the company
• Allocation for strategic investments/acquisitions modified from original ₹900.00 Lakhs working capital to ₹1,000.00 Lakhs
• Zero funds utilized towards the IPO objects as of September 30, 2026

Luxury Time Limited has scheduled a Board of Directors meeting on November 03, 2026, to consider and approve its unaudited standalone and consolidated financial results for the half-year ended September 30, 2026. The board will also review executive remuneration for the CMD and Whole-time Director, alongside the Monitoring Agency report and statement of deviations for Q2 FY27. Additionally, the board will note the resignation of CFO Kanika Gupta and consider appointing Muhammad Akaram as the new CFO. The trading window remains closed and will reopen 48 hours post result declaration.

• Board meeting scheduled for November 03, 2026, to approve H1 FY27 financial results ended September 30, 2026
• CFO transition: Board to note resignation of Kanika Gupta and consider appointment of Muhammad Akaram as CFO
• Agenda includes reviewing remuneration revisions for CMD Ashok Goel and Whole-time Director Pawan Chohan
• Trading window closed since October 01, 2026, reopening 48 hours after financial results announcement

Luxury Time Limited announced that Chief Financial Officer (CFO) and Key Managerial Personnel Ms. Kanika Gupta has tendered her resignation dated October 22, 2026, citing personal reasons. She will officially cease to hold the CFO office at the close of business hours on November 2, 2026. The company reported FY26 annual revenue of ₹59.99 crore and net profit of ₹5.53 crore. A successor has not yet been named to oversee the company's financial operations.

• CFO Kanika Gupta submitted resignation on October 22, 2026
• Cessation takes effect from close of business hours on November 02, 2026
• Resignation cited strictly due to personal reasons with no other material reasons confirmed
• Company posted FY26 net profit of ₹5.53 crore on ₹59.99 crore revenue

Luxury Time Ltd has received a final compounding order dated September 21, 2026, from the Regional Director (Northern Region-I), MCA, resolving non-compliance under Section 129 of the Companies Act, 2013. The default pertained to the non-preparation and filing of consolidated financial statements of its Joint Venture across 5 financial years (FY20 to FY24). A compounding fee of ₹1,00,000 per year per director was paid on September 03, 2026, by Chairman Ashok Goel and Whole-time Director Pawan Chohan. No compounding fee or financial liability was imposed directly on the company.

• Final compounding order dated September 21, 2026, issued under Section 441 of the Companies Act, 2013.
• Non-compliance covered 5 financial years (FY2019-20 through FY2023-24) regarding JV consolidated financial statements.
• Compounding fee of ₹1,00,000 per default year paid by directors Ashok Goel and Pawan Chohan on September 03, 2026.
• Zero financial liability or penalty payable by Luxury Time Ltd.

Luxury Time Ltd has received the final compounding order dated September 21, 2026, from the Regional Director (Northern Region-I), Ministry of Corporate Affairs, regarding the non-preparation and filing of consolidated financial statements for an associate company across FY20 to FY24. Under the order, applicant directors Ashok Goel and Pawan Chohan paid a compounding fee of ₹1,00,000 per year each (total ₹10,00,000 combined) on September 03, 2026. The offence now stands compounded, and no fine or compounding fee is payable by the company itself.

• Final compounding order dated September 21, 2026, settles Section 129 Companies Act non-compliance.
• Default pertained to non-preparation and filing of consolidated financials for 5 financial years: FY20 through FY24.
• Compounding fee of ₹1,00,000 per year of default paid by each director (Ashok Goel and Pawan Chohan) on September 03, 2026.
• Zero financial liability or compounding fee imposed on Luxury Time Ltd.
• Omissions in financials have already been rectified in the financial statements for FY 2024-25.

Luxury Time Limited has published its Annual Report for FY25-26 and scheduled its 18th Annual General Meeting (AGM) for Monday, September 21, 2026, in New Delhi. The AGM agenda includes the adoption of audited financial statements, re-appointment of a director retiring by rotation, and an item of special business to appoint statutory auditors following a casual vacancy caused by auditor resignation. For FY26, the company posted annual revenue of ₹59.99 cr and net profit of ₹5.53 cr.

• 18th AGM scheduled for Monday, September 21, 2026, at 03:00 PM in Pitampura, New Delhi.
• Submission of the FY25-26 Annual Report containing standalone and consolidated financial statements.
• Special business proposed to appoint Statutory Auditors to fill a casual vacancy caused by resignation.
• Disclosed 50% JV holding in Pasadena Retail Private Limited with an investment of ₹275.00 lakhs.

Luxury Time Ltd has updated its Whistle Blower Policy (Vigil Mechanism) as of August 14, 2026, to align with the latest SEBI LODR and Companies Act 2013 regulations. The policy provides a formal framework for employees, directors, and stakeholders to report unethical conduct or financial irregularities without fear of retaliation. It includes provisions for direct access to the Audit Committee Chairperson in exceptional cases. This is a procedural update for the company, which reported a revenue of ₹59.99 Cr in FY26.

• Board of Directors approved the revised policy on August 14, 2026
• Policy framed under Section 177(9) and 177(10) of the Companies Act, 2013
• Provides direct access to the Chairperson of the Audit Committee for reporting genuine concerns
• Covers all stakeholders including employees, vendors, suppliers, and auditors
• Maintains a debt-to-equity ratio of 0.05 as per latest financial context

Luxury Time Ltd's Board of Directors approved a revised CSR policy on August 14, 2026, to align with the latest amendments to the Companies Act, 2013. The policy outlines a governance framework for planning, implementing, and monitoring social initiatives. Based on the company's FY26 net profit of ₹5.53 Cr, this policy will govern the mandatory 2% CSR expenditure. This is a routine administrative update to ensure regulatory compliance.

• Board of Directors approved the revised CSR policy on August 14, 2026
• Policy is updated in line with Section 135 of the Companies Act, 2013
• Company reported a net profit of ₹5.53 Cr for FY26, which influences CSR spending obligations
• Governance framework defines roles for the CSR Committee and Board for monitoring and reporting
• Policy includes provisions for impact assessment of eligible projects through independent agencies

Luxury Time Ltd has submitted its Statement of Deviation or Variation for the quarter ended June 30, 2026, confirming that funds raised through its Initial Public Offer (IPO) are being utilized as per the objects stated in the prospectus. The company raised ₹14.99 Crores on December 11, 2025. Both the Audit Committee and the monitoring agency, Brickwork Ratings India Private Limited, have reported no deviations or variations in fund usage. This filing is a standard regulatory requirement for companies that have recently raised capital through public issues.

• Total funds raised through IPO on December 11, 2025, amounted to ₹14.99 Crores
• Zero deviation or variation reported in the utilization of proceeds for the quarter ended June 30, 2026
• Monitoring agency Brickwork Ratings India Private Limited confirmed the status of fund utilization
• Audit Committee reviewed the statement with nil comments on deviations

Luxury Time Ltd has received a compounding order from the Regional Director (MCA) regarding a historical default under Section 129 of the Companies Act, 2013. The default pertains to the non-preparation and filing of consolidated financial statements for its Joint Venture/Associate for five financial years (FY 2019-20 to FY 2023-24). While the company itself faces no financial penalty, the Chairman & Managing Director and the Whole-time Director have been ordered to pay ₹1,00,000 each for every year of default. The company has already rectified these omissions in its FY 2024-25 financial statements.

• Compounding fee of ₹1,00,000 per year of default imposed on two directors individually
• Default period spans 5 financial years from 2019-20 to 2023-24
• Zero financial penalty or compounding fee imposed on Luxury Time Ltd as an entity
• Payment of fees required within 30 days from the order date of August 06, 2026
• Omissions in financial statements already rectified in the FY 2024-25 filings