25 Annual Report; AGM Set for May 21, 2026
April 23, 2026
KDJ Holidayscapes & Resorts Limited has filed its Thirty-Second Annual Report for the financial year 2024-25 with BSE Limited. The company reported nil revenue from operations and a net loss of ₹42.22 lakh on a standalone basis and ₹73.69 lakh on a consolidated basis for the year ended March 31, 2025. The Annual General Meeting is scheduled for May 21, 2026, through video conferencing. The company, which recently emerged from Corporate Insolvency Resolution Process, has proposed several special resolutions including changing its name to Avenique Limited, shifting its registered office from Maharashtra to Gujarat, and enhancing borrowing limits to ₹5,000 crore. The statutory auditors issued a disclaimer of opinion due to non-availability of confirmations and inability to verify fixed assets physically.
KDJ Holidayscapes & Resorts Limited has filed its Thirty-Second Annual Report for the financial year 2024-25 with BSE Limited. The company reported nil revenue from operations and a net loss of ₹42.22 lakh on a standalone basis and ₹73.69 lakh on a consolidated basis for the year ended March 31, 2025. The Annual General Meeting is scheduled for May 21, 2026, through video conferencing. The company, which recently emerged from Corporate Insolvency Resolution Process, has proposed several special resolutions including changing its name to Avenique Limited, shifting its registered office from Maharashtra to Gujarat, and enhancing borrowing limits to ₹5,000 crore. The statutory auditors issued a disclaimer of opinion due to non-availability of confirmations and inability to verify fixed assets physically.
Financial Performance
For the financial year ended March 31, 2025, the company reported nil revenue from operations. The standalone financial statements showed a net loss of ₹42.22 lakh compared to a net loss of ₹14.22 lakh in the previous year. On a consolidated basis, the net loss widened to ₹73.69 lakh from ₹47.86 lakh in the preceding year. Total expenses stood at ₹31.62 lakh on a standalone basis and ₹63.09 lakh on a consolidated basis. Other income was recorded at ₹1.37 lakh.
Particulars Standalone FY 2024-25 (₹ in Lakh) Standalone FY 2023-24 (₹ in Lakh) Consolidated FY 2024-25 (₹ in Lakh) Consolidated FY 2023-24 (₹ in Lakh) Revenue from Operations 0 0 0 0 Total Revenue 1.37 0 1.37 0 Total Expenses 31.62 14.22 63.09 47.86 Net Profit/(Loss) (42.22) (14.22) (73.69) (47.86)
Corporate Insolvency Resolution Process
The company was undergoing Corporate Insolvency Resolution Process (CIRP) initiated on September 23, 2019. The National Company Law Tribunal, Mumbai Bench, approved the resolution plan submitted by Mr. Ravikumar Gaurishankar Patel on March 4, 2025. Following the approval, a new Board of Directors was appointed with effect from March 28, 2025, and management control was handed over to the Board by the Monitoring Committee on April 18, 2025.
Pursuant to the resolution plan, 100% of outstanding equity shares were cancelled and extinguished. Subsequently, 25,000 equity shares were allotted to existing public shareholders and 4,75,000 equity shares were allotted to the promoter and promoter group. The paid-up equity share capital as of March 31, 2025, stood at 5,00,000 equity shares of ₹2 each aggregating to ₹10,00,000.
Key Resolutions for AGM
The Thirty-Second Annual General Meeting will be held on Thursday, May 21, 2026, at 11.00 a.m. through video conferencing. The notice includes several special resolutions seeking shareholder approval:
Name Change: The company proposes to change its name from 'KDJ Holidayscapes & Resorts Limited' to 'Avenique Limited' to better reflect its evolving business activities.
Registered Office Shift: Approval is sought to shift the registered office from Maharashtra to Gujarat for improved operational efficiency.
Object Clause Amendment: The company seeks to alter the object clause to enable pursuit of new business opportunities in agriculture, food processing, and renewable energy sectors.
Borrowing Limits: The Board proposes to enhance borrowing limits up to ₹5,000 crore under Section 180(1)(c) of the Companies Act, 2013.
Investment Limits: Shareholder approval is sought to authorize loans, guarantees, and investments up to ₹5,000 crore under Section 186 of the Companies Act, 2013.
Unsecured Loan from Director: The company proposes to borrow up to ₹100 crore from Mr. Ravikumar Gaurishankar Patel, Non-Executive Director, with an option to convert the loan into equity shares.
Auditor's Report
M/s DD Shah Patel & Co., Chartered Accountants, conducted the statutory audit for FY 2024-25. The auditors issued a disclaimer of opinion, stating they were unable to obtain sufficient appropriate audit evidence due to non-availability of confirmations and reconciliations for trade receivables, loans and advances, non-current investments, fixed assets, trade payables, and various financial liabilities. The auditors also noted that management had not performed a complete physical verification of fixed assets.
The auditors drew attention to the write-off of assets worth ₹1,932.27 lakh and liabilities worth ₹1,920.30 lakh, resulting in an exceptional loss of ₹11.97 lakh in accordance with the NCLT order.
Corporate Governance
The company stated that during the CIRP period, the powers of the Board of Directors were suspended. Following the appointment of the new Board on March 28, 2025, the company has constituted three board committees: Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee. The company has appointed Bigshare Services Private Limited as its Registrar and Share Transfer Agent.
The company's equity shares are listed on BSE Limited with trading suspended due to non-payment of ALF dues and procedural reasons. The company has filed an application for revocation of the suspension.
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As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation. We plan to change that - a technology-led platform built for super traders and long term investors.
Financial Performance
For the financial year ended March 31, 2025, the company reported nil revenue from operations. The standalone financial statements showed a net loss of ₹42.22 lakh compared to a net loss of ₹14.22 lakh in the previous year. On a consolidated basis, the net loss widened to ₹73.69 lakh from ₹47.86 lakh in the preceding year. Total expenses stood at ₹31.62 lakh on a standalone basis and ₹63.09 lakh on a consolidated basis. Other income was recorded at ₹1.37 lakh.
Particulars Standalone FY 2024-25 (₹ in Lakh) Standalone FY 2023-24 (₹ in Lakh) Consolidated FY 2024-25 (₹ in Lakh) Consolidated FY 2023-24 (₹ in Lakh) Revenue from Operations 0 0 0 0 Total Revenue 1.37 0 1.37 0 Total Expenses 31.62 14.22 63.09 47.86 Net Profit/(Loss) (42.22) (14.22) (73.69) (47.86)
Corporate Insolvency Resolution Process
The company was undergoing Corporate Insolvency Resolution Process (CIRP) initiated on September 23, 2019. The National Company Law Tribunal, Mumbai Bench, approved the resolution plan submitted by Mr. Ravikumar Gaurishankar Patel on March 4, 2025. Following the approval, a new Board of Directors was appointed with effect from March 28, 2025, and management control was handed over to the Board by the Monitoring Committee on April 18, 2025.
Pursuant to the resolution plan, 100% of outstanding equity shares were cancelled and extinguished. Subsequently, 25,000 equity shares were allotted to existing public shareholders and 4,75,000 equity shares were allotted to the promoter and promoter group. The paid-up equity share capital as of March 31, 2025, stood at 5,00,000 equity shares of ₹2 each aggregating to ₹10,00,000.
Key Resolutions for AGM
The Thirty-Second Annual General Meeting will be held on Thursday, May 21, 2026, at 11.00 a.m. through video conferencing. The notice includes several special resolutions seeking shareholder approval:
Name Change: The company proposes to change its name from 'KDJ Holidayscapes & Resorts Limited' to 'Avenique Limited' to better reflect its evolving business activities.
Registered Office Shift: Approval is sought to shift the registered office from Maharashtra to Gujarat for improved operational efficiency.
Object Clause Amendment: The company seeks to alter the object clause to enable pursuit of new business opportunities in agriculture, food processing, and renewable energy sectors.
Borrowing Limits: The Board proposes to enhance borrowing limits up to ₹5,000 crore under Section 180(1)(c) of the Companies Act, 2013.
Investment Limits: Shareholder approval is sought to authorize loans, guarantees, and investments up to ₹5,000 crore under Section 186 of the Companies Act, 2013.
Unsecured Loan from Director: The company proposes to borrow up to ₹100 crore from Mr. Ravikumar Gaurishankar Patel, Non-Executive Director, with an option to convert the loan into equity shares.
Auditor's Report
M/s DD Shah Patel & Co., Chartered Accountants, conducted the statutory audit for FY 2024-25. The auditors issued a disclaimer of opinion, stating they were unable to obtain sufficient appropriate audit evidence due to non-availability of confirmations and reconciliations for trade receivables, loans and advances, non-current investments, fixed assets, trade payables, and various financial liabilities. The auditors also noted that management had not performed a complete physical verification of fixed assets.
The auditors drew attention to the write-off of assets worth ₹1,932.27 lakh and liabilities worth ₹1,920.30 lakh, resulting in an exceptional loss of ₹11.97 lakh in accordance with the NCLT order.
Corporate Governance
The company stated that during the CIRP period, the powers of the Board of Directors were suspended. Following the appointment of the new Board on March 28, 2025, the company has constituted three board committees: Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee. The company has appointed Bigshare Services Private Limited as its Registrar and Share Transfer Agent.
The company's equity shares are listed on BSE Limited with trading suspended due to non-payment of ALF dues and procedural reasons. The company has filed an application for revocation of the suspension.
We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better.
Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians.
As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation. We plan to change that - a technology-led platform built for super traders and long term investors.