SRIVARU Holding Limited, a foreign private issuer, has filed a Form 6-K with the United States Securities and Exchange Commission (SEC) for November 2024. The company, based in the Cayman Islands, has been granted a conditional extension by the Nasdaq Hearing Panel to remain listed on the Nasdaq stock market. This extension, granted on September 18, 2024, allows SRIVARU to continue its efforts to regain compliance with Nasdaq's listing requirements by November 14, 2024. As part of its compliance plan, SRIVARU has submitted an Interim Audited Balance Sheet with pro forma adjustments to demonstrate current and long-term compliance with Nasdaq's shareholder equity requirements. The company's consolidated financial statements for the seven months ended October 31, 2024, and the fiscal year ended March 31, 2024, show...Show More

SRIVARU Holding Limited, a foreign private issuer, has filed a Form 6-K with the United States Securities and Exchange Commission (SEC) for November 2024. The company, based in the Cayman Islands, has been granted a conditional extension by the Nasdaq Hearing Panel to remain listed on the Nasdaq stock market. This extension, granted on September 18, 2024, allows SRIVARU to continue its efforts to regain compliance with Nasdaq's listing requirements by November 14, 2024. As part of its compliance plan, SRIVARU has submitted an Interim Audited Balance Sheet with pro forma adjustments to demonstrate current and long-term compliance with Nasdaq's shareholder equity requirements. The company's consolidated financial statements for the seven months ended October 31, 2024, and the fiscal year ended March 31, 2024, show a significant increase in cash and cash equivalents from $175,041 to $5,037,744, and a reduction in total liabilities from $1,693,783 to $1,538,016. However, SRIVARU reported a net loss of $34,232,538 for the seven months ended October 31, 2024, compared to a net loss of $11,482,294 for the fiscal year ended March 31, 2024. The company's Chief Financial Officer, Weng Kiat (Adron) Leow, signed off on the report dated November 14, 2024.