Bits Limited's Board of Directors held a meeting on Thursday, August 27, 2026, which commenced at 02:30 PM and concluded at 04:00 PM. The board considered and approved several items of business.

Key Decisions and Approvals:

A. Appointment of Statutory Auditors

The Board approved the appointment of M/S P R P A & COMPANY LLP, Chartered Accountants (Firm Registration No. N500344) as the new Statutory Auditors of the Company. This appointment is made to fill a casual vacancy arising from the resignation of the existing auditors, M/s. R C CHADDHA & CO. The appointment is subject to shareholder approval at the ensuing 34th Annual General Meeting (AGM). The term of appointment will be from the date of shareholders' approval until the conclusion of the 39th Annual General Meeting, or as otherwise approved in accordance with the Companies Act, 2013. The auditor's brief profile notes they hold a Peer Review Certificate No. 022402 and have experience in statutory audits, taxation, corporate advisory, and assurance services. The Board confirmed that the new auditor has no relationship with any Director or Key Managerial Personnel of the Company.

B. Alteration of Memorandum of Association

The Board approved the alteration of the Objects Clause (Clause III) of the Company's Memorandum of Association (MOA), specifically to insert two new sub-clauses (9 and 10) after the existing sub-clause 8 under Clause III (A). The new objects are:

  • 9. To carry on the business of manufacturing, assembling, fabricating, processing, repairing, refurbishing, designing, developing, installing, commissioning, operating, maintaining, servicing, upgrading, leasing, hiring, importing, exporting, buying, selling, distributing, supplying, and otherwise dealing in all kinds of industrial, engineering, agricultural, construction, mining, electrical, mechanical, automation and other machinery, plant and equipment, tools, components, spare parts, accessories, and related engineering products.
  • 10. To carry on the business of importers, exporters, retailers, traders, distributors, dealers, stockists, commission agents, representatives, suppliers, and merchants of all kinds of electrical, electronic, electromechanical, and electro-technical components, parts, accessories, equipment, and related products.

This alteration is subject to approval by the shareholders of the Company and any other required statutory and regulatory approvals.

C. Annual General Meeting (AGM) Arrangements

The Board fixed the date and time for the 34th Annual General Meeting (AGM) as Sunday, September 27, 2026, at 02:30 PM. The meeting will be held through Video Conferencing (VC) or Other Audio-Visual Means (OAVM).

The Board also approved the Notice and Agenda for this AGM, which will include both Ordinary and Special Businesses.

D. Closure of Register of Members

Pursuant to Section 91 of the Companies Act, 2013 and Regulation 42 of the SEBI Listing Regulations, the Register of Members and Share Transfer Books of the Company will remain closed from 21st September, 2026 to 27th September, 2026 (both days inclusive) for the purpose of the AGM.

E. E-Voting Process

The Board appointed Ms. Pritika Nagi, a Company Secretary in Practice and proprietor of M/s. Pritika Nagi & Associates, as the Scrutinizer for the e-Voting process for the AGM.

The e-Voting facility will be available from 09:00 AM (Indian Standard Time) on Thursday, 24th September, 2026, until 05:00 PM (Indian Standard Time) on Saturday, 26th September, 2026.

F. Director's Report

The Board approved the draft Director's Report for the Financial Year 2025-26 along with its annexure.