Shah Investor’s Home Cannot Trace 20 Historic Corporate Records

Shah Investor’s Home Limited cannot trace 20 listed historic corporate-record entries and supporting documents for 50 share transfers, according to a September 22, 2026 report by Mittal V Kothari & Associates. The records cover 1994 to 2022 and include share allotments, whole-time director appointments and transfers involving promoters.

What historic corporate records cannot Shah Investor’s Home trace?

Shah Investor’s Home cannot trace secretarial records and form filings relating to share issuances, resolutions and director appointments between December 30, 1994 and November 21, 2017. The company commissioned a physical and electronic search of Registrar of Companies, or ROC, records through Mittal V Kothari & Associates, a practising company secretary firm, which issued its report on September 22, 2026.

Shah Investor’s Home says the identified untraceable corporate-record matters were sent to the ROC through an inward letter dated September 23, 2025. The company sought to retrieve documents from ROC records and prepare missing documents using material retrievable from those records, but it does not state that all missing documents have been reconstructed.

Nine of the 20 listed entries concern allotments or share issues. They include Form 23 filings for special resolutions on further share issues in 1994, 1995, 1999, 2000, 2005 and 2008; renunciation letters for a November 1, 1996 rights issue; an incomplete Form 2 allottee list dated August 1, 2000; and an MGT-14 filing for a board resolution on a November 21, 2017 bonus issue.

The appointment-related entries include Form 23 resolutions involving Upendra Shah on December 1, 2006 and February 11, 2012, and Tanmay Upendra Shah on September 21, 2006, September 30, 2008 and February 11, 2012. The list also covers Form 25 and Form 32 entries involving Trupti Uptal Shah, as well as Form 32 entries involving Upendra Shah. Separately, Forms 30, 25 and 23 were not found for Upendra Trikamlal Shah and Purmima Upendra Shah during their tenure from October 12, 1994 to December 1, 2006.

How extensive are the missing share-transfer documents?

Shah Investor’s Home has listed 50 share-transfer entries whose supporting documents are not traceable, covering October 31, 1996 to August 11, 2022. The identified gaps include missing Form 7B transfer forms, missing transfer price or consideration, and, in selected cases, an untraceable transferor or transferee.

The earliest listed entry is a transfer of 1,000 shares on October 31, 1996 from Jayantibhai K Patel and Kokila J Patel to Upendra Trikamlal Shah and Purmima Upendra Shah. For that entry, both Form 7B and the transfer price or consideration are not traceable. The latest listed entry is a transfer of 1,200 shares on August 11, 2022 from Vishal Dipakkumar Parikh to Utpal P. Shah HUF, for which the transferor’s consideration is not traceable; HUF denotes a Hindu undivided family.

The missing support is concentrated in several periods rather than one transaction. Four entries are dated September 17, 1998, two transfers of 46,700 and 49,600 shares are dated December 30, 2002, and 14 entries are dated March 20, 2013. The deficiency also changed by category: several earlier entries lack both Form 7B and consideration, while many entries dated from 2013 to 2022 are identified as missing consideration evidence.

The disclosure does not support a net total of shares affected by the 50 entries. The list contains positive and parenthesised share quantities, and the stated documentary deficiencies vary by entry, ranging from absent Form 7B records to missing consideration or missing party names.

Why do promoter-related transfers matter in this disclosure?

Promoter-related transfers matter because Shah Investor’s Home says it cannot locate share-transfer forms and depository instruction slips for various transfers involving its promoters. The 50 listed entries include transactions involving Upendra Trikamlal Shah, Purmima Upendra Shah, Tanmay Upendra Shah, Preeti Upendra Shah and related HUFs.

A depository instruction slip is identified by Shah Investor’s Home as a document supporting transfers through the depository system. The company says it contacted the promoters involved in the transfers to seek documentation available with them, but it was unable to trace the specified records and other corporate documents.

Shah Investor’s Home has therefore relied on the September 22, 2026 report of Mittal V Kothari & Associates for the missing documents. That reliance records the results of the search, but the disclosure does not say that promoter-held papers, transfer forms or depository instruction slips were subsequently recovered.

The promoter-transfer list includes entries with different documentation gaps. For example, a 20,000-share transfer dated May 15, 1999 is identified as lacking both Form 7B and consideration, while transfers dated March 20, 2013 commonly identify transfer price or consideration as untraceable. This distinction means the disclosure does not state that every promoter-related transfer lacks the same evidence.

What regulatory exposure has Shah Investor’s Home disclosed?

Shah Investor’s Home states that no legal proceeding or regulatory action had been initiated against it in relation to the untraceable secretarial and other corporate records as of the date of its Red Herring Prospectus. It nevertheless says it cannot assure investors that legal proceedings or regulatory action will not be initiated in the future.

The company identifies potential effects on cash flows, financial condition and reputation if future proceedings or actions arise. The disclosure is a record-availability risk and does not state that an authority has found a violation concerning the 20 corporate-record entries or the 50 transfer-support entries.

The risk persists because Shah Investor’s Home does not confirm that all records have become available following the ROC search. Its disclosure specifically states that it cannot assure investors that the untraceable secretarial and other corporate records and documents will be available in the future.

The scope differs between the two sets of records. The corporate-record list covers filings and resolutions from 1994 to 2017, while the transfer-document list covers 50 entries from 1996 to 2022. Future scrutiny could therefore concern distinct evidence, including statutory filings, share-transfer forms, consideration evidence and depository instructions.

What has Shah Investor’s Home done to address the missing records?

Shah Investor’s Home has disclosed two actions: commissioning the ROC record search through Mittal V Kothari & Associates and approaching promoters involved in the transfers for available documents. The practising company secretary firm issued its report on September 22, 2026, after the company had sent the identified corporate-record matters to the ROC on September 23, 2025.

The company’s approach relies on material retrievable from ROC records and the practising company secretary’s report. It does not disclose a remediation completion date, a separate timetable for reconstruction, or confirmation that the original forms, consideration evidence or depository slips have been found.

The September 22, 2026 report provides an independent practising company secretary’s certification of the listed untraceable entries. However, Shah Investor’s Home’s own disclosure retains the qualification that it cannot assure the future availability of the records, leaving the outcome dependent on what further material can be located.

Conclusion

Shah Investor’s Home has disclosed a historical documentation gap involving 20 corporate-record entries dated from 1994 to 2017 and support for 50 share transfers dated from 1996 to 2022. The missing materials span share allotments, director appointments and promoter-related transfers, but the stated shortcomings differ between absent statutory forms, missing consideration evidence and missing party details.

The next development to watch is whether ROC-retrievable material or documents held by promoters allow further reconstruction of the files. Shah Investor’s Home has disclosed no active proceeding as of its Red Herring Prospectus, while also stating that future legal or regulatory action cannot be ruled out.