Meeting Details

The 42nd Annual General Meeting is scheduled to be held on Friday, 25th September, 2026 at 11:30 AM (IST) through Video Conferencing/Other Audio-Visual Means. The deemed venue is the registered office at H.B. Jirawala House, 13, Navbharat Society, Usmanpura, Ahmedabad, Gujarat - 380013.

Ordinary Business

1. Adoption of Financial Statements: To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements for the year ended 31st March, 2026, including Balance Sheets, Statements of Profit and Loss, Cash Flow Statements, and reports of Board of Directors and Auditors.

2. Re-appointment of Director: To appoint Mr. Prakash Hiralal Parekh (DIN: 00158264) who retires by rotation and is eligible for re-appointment as Managing Director. The resolution is recommended based on performance evaluation and Nomination and Remuneration Committee recommendation.

Special Business

3. Remuneration to Independent Director: Special resolution to approve payment of remuneration to Mrs. Meenu Maheshwari (DIN: 07113136), Non-Executive Independent Director, in excess of 50% of total annual remuneration payable to all Non-Executive Directors as per SEBI LODR Regulation 17(6)(ca).

4. Material Related Party Transactions: Ordinary resolution to approve material RPTs of the Company with related parties during the period from conclusion of AGM 2026 to AGM 2027, with aggregate values:

  • Entity controlled by close family of Director: ₹15,000 Lakhs (25.02% of consolidated turnover)
  • Entity controlled by close family of Director: ₹20,000 Lakhs (33.35% of consolidated turnover)
  • K.P. Woven Private Limited (Subsidiary): ₹10,000 Lakhs (16.68% of consolidated turnover)
  • Other entities: Values ranging from ₹10,000-25,000 Lakhs

5. Subsidiary RPTs: Ordinary resolution to approve material RPTs of K.P. Woven Private Limited (subsidiary) with related parties during same period, with similar value thresholds.

6. Re-appointment of Independent Director: Special resolution to re-appoint Mr. Sandeep Motilal Shah (DIN: 01850151) as Non-Executive Independent Director for a second term of 5 years from 9th August, 2026 to 8th August, 2031.

7. Borrowing Power Increase: Special resolution to increase borrowing limit to ₹500 Crores under Section 180(1)(c) of Companies Act, 2013, superseding all earlier resolutions.

8. Security Creation: Special resolution to create charges/mortgages on company assets to secure borrowings under Section 180(1)(a) of Companies Act, 2013.

9. Loans/Investments/Guarantees: Special resolution to authorize Board to give loans, provide guarantees/securities, or make investments up to ₹500 Crores under Section 186 of Companies Act, 2013.

10. Loans to Related Parties: Special resolution to authorize loans/guarantees to entities where directors are interested, up to ₹500 Crores under Sections 185-186 of Companies Act, 2013.

11. Re-appointment of Managing Director: Ordinary resolution to re-appoint Mr. Prakash Hiralal Parekh as Managing Director for 3 years from 1st November, 2026 to 30th October, 2029 with monthly salary of ₹3,00,000 and specified perquisites.

12. New Articles of Association: Special resolution to adopt new set of Articles of Association as per Companies Act 2013, replacing existing articles.

Voting and Participation Details

  • Remote e-voting period: 19th September, 2026 (9:00 AM) to 24th September, 2026 (5:00 PM)
  • Cut-off date for voting rights: 18th September, 2026
  • E-voting service provider: NSDL
  • Scrutinizer: Mr. Ketan Vyas from M/s. SC. Ketan Vyas & Co., Practicing Company Secretaries
  • Members can join AGM 15 minutes before and after scheduled time through VC/OAVM

Financial Context

  • Consolidated annual turnover for FY 2025-2026: ₹59,959.17 Lakhs
  • The company was admitted under Insolvency and Bankruptcy Code, 2016 and taken over by Plastene India Limited