In compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company disclosed outcomes from its Board Meeting held on 16th July 2026 from 5:30 PM to 6:30 PM.
1. Increase in Authorized Capital
The Board approved altering and increasing the Authorized Share Capital from the existing ₹10,00,00,000 (Rupees Ten Crores Only) divided into 10,00,000 Equity Shares of ₹10 each to ₹100,00,00,000 (Rupees One Hundred Crores Only) divided into 1,00,00,000 Equity Shares of ₹10 each. This change is subject to approval of shareholders at the Annual General Meeting and requires subsequent amendment to the capital clause of the Memorandum of Association.
2. Proposal for Fund Raising
The Board approved raising funds through issuance and allotment of Equity Shares (face value ₹10 each) up to an aggregate amount not exceeding ₹90 Crore (Rupees Ninety Crore only) on a rights basis. The issuance will be made to eligible equity shareholders as on a record date to be notified subsequently. The terms will be decided by the Board or a duly constituted committee at a later date, subject to receipt of regulatory/statutory approvals under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, SEBI Listing Regulations, and Companies Act, 2013.
The Board authorized a "Right Issue Committee" (a sub-committee of the Board) to decide all matters relating to the rights issue, including finalization and approval of detailed terms and conditions and the number of equity shares to be issued.
Various intermediaries have been appointed for the proposed rights issue. Additional details as required under SEBI Listing Regulations and Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 are provided in Annexure-I:
- Type of securities: Equity Shares
- Type of issuance: Rights Issue
- Total amount: Not exceeding ₹90 crores
- Cancellation/termination: Not Applicable
3. Resignation of Independent Director
Mr. Mukesh Gupta [DIN: 07784829] resigned from his position as Non-Executive Independent Director effective 16th July 2026 due to pre-occupancy. He confirmed there are no other material reasons for his resignation beyond those stated in his resignation letter.
Details as required under SEBI Circular No. CIR/CFD/CMD/4/2015 dated 09th September 2015 are provided in Annexure-II:
- Date of cessation: Close of business hours on 16th July 2026
- Other directorships: Cosmo Social Welfare Foundation
- Confirmation: No other material reasons for resignation
The resignation letter from Mr. Mukesh Gupta dated 16/07/2026 states his resignation is due to "Pre-Occupancy" and requests relief from duties effective from the date of signing. He confirms no other material reasons exist.
4. Annual General Meeting
The Board approved the Director's Report for financial year 2025-26 along with annexures. The 36th Annual General Meeting (AGM) will be convened on 21st August 2026 at 1:00 PM (IST) through Video Conferencing / Other Audio-Visual Means in accordance with MCA and SEBI circulars.
5. Board Committee Reconstitution
The Board approved the reconstitution of various committees of the Board of Directors.