APTS Reddit Mentions | ChartExchange

1. Arvind Jadhav (Independent Director, String Metaverse)
* Administrative Background: A 1978-batch IAS officer of the Karnataka cadre, Jadhav retired as the Chief Secretary of Karnataka in 2016. He previously served as the Chairman and Managing Director (CMD) of Air India from 2009 to 2011.
* Current Role: He is currently the Chairperson of the Audit Committee and an Independent Director for String Metaverse Limited.
* CBI Chargesheet (2024): In February 2024, the Central Bureau of Investigation (CBI) filed a chargesheet against Jadhav regarding alleged irregularities in a ₹225 crore software procurement deal involving IBM and SAP in 2011. The allegations claim he bypassed standard tendering procedures to select the ERP software on a nomination basis.
1. Dr. Sarat Kumar Malik (Independent Director, String Metaverse)
* Regulatory Background: Dr. Malik is a veteran of the Securities and Exchange Board of India (SEBI), where he served for 23 years (1997–2020), rising to the position of Chief General Manager (CGM). Prior to SEBI, he spent 10 years as a Research Officer and Manager at the Reserve Bank of India (RBI).
* Current Role: He serves as an Independent Non-Executive Director for String Metaverse Limited (since 2024). He also holds board positions at 5paisa Capital Limited and Spacenet Enterprises India Limited.
* Corporate Function: At String Metaverse, he is the Chairman of the Nomination and Remuneration Committee. His presence is intended to provide a regulatory shield, ensuring that capital maneuvers—such as the recent Offer for Sale (OFS) and Bonus Issues—align with SEBI governance norms.

The money follows a closed circuit. Data confirms a transition from taxpayer budgets to private equity multipliers via institutional "nodes."
**1. The Shell Pivot (The Multiplier)**
* **RNIT AI Solutions:** Pivoted from a defunct lighting shell (**Autopal**) with zero revenue to **₹51.50 Crore** in FY26.
* **The Profit Surge:** Net profit jumped **66.7%** to **₹12.02 Crore**.
* **The Valuation:** Strategic HNIs (Katkars/Shah) bought in at **₹50/share** in March 2026. Within 60 days, the price hit **₹78.90**, creating a **₹15.21 Crore** paper gain on a ₹26 Crore investment.
**2. The Administrative Anchor (The Gatekeepers)**
Board members provide the "Institutional Trust" needed to bypass standard market friction:
* **Arvind Jadhav (Independent Director):** Former **Chief Secretary of Karnataka** and CMD of Air India. Faces a **2024 CBI chargesheet** for a ₹225 Crore software deal awarded on a "nomination basis" (no tender).
* **Dr. Sarat Kumar Malik (Independent Director):** A **23-year SEBI veteran** (Former Chief General Manager). He provides "Regulatory Insurance" while fellow board members and promoters executed **Contra Trade violations** in late 2025.
**3. The Revenue Valve (The State Flow)**
The "AI" is the legal wrapper for state-wide mandates:
* **The Mandate:** Policy shifts by **N. Chandrababu Naidu** and **Nara Lokesh** (Andhra Pradesh) and **D. Sridhar Babu** (Telangana) mandated AI attendance.
* **The Flow:** State agencies (**APTS/TGTS**) awarded contracts for **1.3 Million students**. This taxpayers' money fuels the **43.8% EBITDA margins** reported by the company.
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Both the companies stole your money, converted politicians money and you are left as a bag holder.

tl;dr

SEBI Workers SIT ON THE BOARD OF A SCAM COMPANY WHICH DOES PUMP AND DUMP AND ADMITS TO CONTRA TRADING.