EGM Details

The 01st Extraordinary General Meeting for financial year 2026-2027 will be held on Wednesday, 26th August, 2026 at 11:00 a.m. IST through Video Conferencing (VC)/Other Audio-Visual Means (OAVM). The deemed venue is the Registered Office at 212, Panchratna Building, Opera House, Charni Road (East), Mumbai - 400004.

Business Items

Item No. 1: Appointment of Statutory Auditors

  • Current Situation: Statutory term of previous auditors M/s. V.S. Somani & Co., Chartered Accountants, Mumbai expired at conclusion of period 2024-25
  • Reason for Change: Mandatory auditor rotation provisions under Section 139(2) of Companies Act, 2013 made previous auditors ineligible for re-appointment
  • Proposed Appointment: M/s. Dhwani M Shah & Associates, Chartered Accountants, Mumbai (Firm Registration No. 161963W)
  • Term: From conclusion of this EGM until conclusion of next Annual General Meeting
  • Remuneration: ₹5,00,000/- (Rupees Five Lakhs only) plus applicable taxes and reimbursement of out-of-pocket expenses
  • Basis of Recommendation: Evaluation by Audit Committee and Board of Directors based on technical capabilities, peer-review certification status, and independence criteria under Section 141 of Companies Act, 2013
  • Fee Comparison: Proposed fee is almost same as fee paid to outgoing auditor
  • Document Availability: Consent letter and eligibility certificate from proposed auditors available for electronic inspection until EGM date

Item No. 2: Extension of Redemption Period of Preference Shares

  • Security Details: 19,89,000 (Nineteen Lakh Eighty Nine Thousand) 9% Non-Cumulative Redeemable Preference Shares of ₹100/- each
  • Total Value: ₹19,89,00,000/- (Nineteen Crore Eighty Nine Lakh only)
  • Original Issue Date: 17th September 2010
  • Current Redemption Date: 17th September 2025
  • Proposed Extension: Five (5) years from existing redemption date, up to 17th September 2030
  • Dividend Terms: Holders shall continue to be entitled to cumulative dividend at rate of 9% per annum during extended period
  • Reason for Extension: Company's present financial requirements, preserving liquidity, and ensuring efficient utilization of financial resources
  • Approval Status: Written consent already obtained from all preference shareholders as required under Section 48 of Companies Act, 2013
  • Interest Disclosure: Preference shares held by companies controlled by Promoter group. Mr. Shyam Ghia, Chairman & Managing Director deemed interested

Voting Arrangements

  • Cut-off Date: 19th August 2026 - only members registered as of this date eligible to vote
  • Remote e-voting Period: Commences 23rd August 2026 at 09:00 a.m. IST and ends 25th August 2026 at 5:00 p.m. IST
  • Voting Service Provider: CDSL appointed for facilitating electronic voting
  • Scrutinizer: Mr. Marti rho Ferrao, Practising Company Secretary (Membership No. F6221, Certificate of Practice No. 5676)
  • Result Declaration: Scrutinizer's report to be submitted within 2 working days of EGM conclusion, results to be placed on company website and communicated to stock exchanges

Shareholder Participation

  • Virtual Meeting Access: Facility available 30 minutes before scheduled commencement time on first-come-first-served basis for 1000 members
  • Registration for Speaking: Shareholders wishing to speak must register at least 2 days prior by email to p.b.kansara@futurapolyesters.co.in
  • Document Inspection: All material documents available for electronic inspection during business hours from notice date until EGM results announcement