AGM Information

Event: 40th Annual General Meeting

Date: Friday, 18th September 2026

Time: 9:30 AM

Mode: Video Conferencing (VC) or Other Audio-Visual Means (OAVM) only - no physical meeting

Cut-off Date: 11th September 2026

Voting Period: 15th September 2026 (9:00 AM) to 17th September 2026 (5:00 PM)

Ordinary Business

1. To receive, consider, approve and adopt Financial Statements including Audited Balance Sheets as at 31st March 2026, Statements of Profit and Loss, Cash Flow Statements, Directors Report and Auditors' Reports

2. To appoint Shri. Rajiv Patodia (DIN: 00026711) who retires by rotation and offers himself for re-appointment

Special Business

Item 3: Variation of Preference Share Redemption Terms

Special Resolution to vary and alter redemption terms of 50,00,000 (Fifty Lakhs) 6% Non-Cumulative Non-Convertible Redeemable Preference Shares of ₹10 each aggregating ₹5,00,00,000

Current Terms: Redeemable at par upon expiry of 10 years from date of allotment (8th December 2016) or earlier at company's option

Proposed Changes:

  • Redemption period extended from 10 years to 20 years from date of allotment (on or before 8th December 2036)
  • Company retains right to redeem earlier at its sole discretion
  • Redemption at par value
  • All other terms remain unchanged

Rationale: Company's manufacturing plants at Kolhapur adversely impacted by persistent labor issues, operations discontinued from 25th March 2019, formal closure announced 30th March 2022. This has constrained cash flows and limited financial resources, making redemption on original due date not feasible.

Interest Disclosure: Shri. Hariprasad Siotia (Director) holds 2.90% and Shri. Krishan Kumar Patodia (Promoter and Managing Director) holds 2.05% shares in PBM Polytex Limited, the preference shareholder.

Item 4: Maintenance of Registers at Different Location

Special Resolution to maintain Register of Members and related documents at Raheja Chambers, 12th Floor, 213, Nariman Point, Mumbai - 400 021 instead of current registered office at 11th Floor of same building

Item 5: Regularization of Director Appointment

Ordinary Resolution to regularize appointment of Mr. Sanjay Shrinarayan Baldua (DIN: 06924268) as Non-Executive Non-Independent Director

  • Appointed as Additional Director on 7th August 2026
  • Qualification: B.Com, University of Mumbai
  • Experience: Over 35 years in garment merchandising, production, operations management
  • Current Directorship: Baldua Clothing Private Limited
  • No shareholding in company
  • Remuneration: Sitting fees for board/committee meetings only

Voting and Meeting Arrangements

  • Remote e-voting through CDSL platform
  • VC/OAVM facility available for first 1000 members on first-come basis
  • Large shareholders (2%+), promoters, institutional investors, directors, KMPs have unrestricted access
  • No proxy facility available due to virtual meeting
  • Scrutinizer: M/s. Aabid & Co., Practicing Company Secretaries
  • Results to be declared post-AGM and filed with BSE/NSE