Key Decisions and Deferments
Business Revival Plan Deferment
The Board extensively reviewed the revival strategy and discussed various operational, financial and business initiatives proposed by management. After detailed deliberations, the Board determined that certain critical inputs, clarifications and additional information are required from management to enable comprehensive evaluation of the proposed revival plan. Accordingly, the Board decided to defer its consideration and approval of the Business Revival Plan until such additional inputs are made available.
Preferential Allotment Deferment
The proposal relating to raising funds through preferential allotment of securities to certain identified persons/entity could not be taken up for final consideration. Owing to extended time devoted to discussions on the proposed revival plan, the Board decided to defer the preferential issue proposal. The Board clarified that no approval has been granted in respect of the proposed preferential allotment at this meeting. The matter shall be considered at a future Board meeting after receipt of requisite information from management and finalization of relevant proposals.
Other Deferred Agenda Items
The Board deliberated upon and decided to defer the following agenda items for consideration at a subsequent Board Meeting pending receipt of requisite information and completion of certain procedural requirements:
- Increase in Authorised Share Capital of the Company and consequential amendment to the Capital Clause of the Memorandum of Association
- Alteration of Memorandum of Association by way of change in Object Clause
- Alteration of Articles of Association and adoption of a new set of Articles of Association
- Change in Registered Office of the Company
- Approval of Postal Ballot Notice and related matters
Meeting Details
The Board meeting started at 10:00 am and concluded at 11:22 am on June 22, 2026.