A. Change of Management

  • Mr. Saroj Kumar Choudhary completed an open offer through Merchant Banker Navigant Corporate Advisors Ltd. under SEBI (Substantial Acquisition of Shares Takeovers) Regulations 2011.
  • The Share Purchase Agreement between Mr. Saroj Kumar Choudhary and Mr. Mazher N Laila and his PACs has been completed.
  • Mr. Saroj Kumar Choudhary, the present Managing Director, became the promoter of Oxford Industries Limited with shareholding of 27,61,576 shares constituting 46.46% of the paid-up capital.
  • Existing Promoter Mr. Mazher N Laila and his PACs ceased to be promoter and were classified as public shareholder per Regulation 31A(10) of SEBI LODR.

B. Resignation and Appointment of Statutory Auditor

  • Board accepted resignation of M/s. PAMS & Associates, Chartered Accountants (FRN: 316079E) as Statutory Auditor effective 19th June 2026 due to geographical constraints (registered office in Mumbai vs their firm in Bhubaneswar).
  • As per Audit Committee recommendation, Board proposed appointment of M/s. Lipika and Associates, Chartered Accountants (FRN: 145364W) as Statutory Auditor for 5 years from FY 2026-2027 to 2030-2031, subject to member approval in ensuing AGM.
  • Lipika and Associates is a partnership firm established in 2017, headquartered in Noida with Mumbai branch, holding ICAI Peer Review Certificate No. 023825 valid till 31 January 2029.

C. Appointment of Chief Financial Officer

  • Mr. Saroj Kumar Choudhury appointed as Chief Financial Officer (CFO) effective 17th July 2026.
  • Mr. Choudhury has over 25 years experience in IT Infrastructure Management including security, networking, server management, vendor sourcing, negotiations, renewals, budgeting, and project management.

D. Shifting of Registered Office

  • Board proposed shifting registered office from Maharashtra to Orissa, subject to member approval in ensuing AGM.

E. Amendment in Memorandum and Article of Associations

  • Board proposed adoption of new Memorandum of Association and Articles of Association, subject to member approval.
  • Board approved enlargement of Main Object Clause by inserting Clause 3(a)(3), 3(a)(4) and 3(a)(5) to include healthcare, pharmaceutical, and medical businesses:
  • To establish, maintain, operate hospitals, Medicare, nursing homes, healthcare, diagnostic centers, research centers
  • To buy, sell, manufacture, import, export, distribute cosmetics, non-prescribed drugs, healthcare products
  • To manufacture, process, trade, import, export pharmaceuticals, medical chemical preparations, surgical equipment, and develop healthcare applications

F. Reduction of Capital

  • Board proposed reduction of share capital under Section 66 of Companies Act, 2013 due to accumulated business losses.
  • Reduction proposed to the extent of 99% of issued and Paid-up Capital, subject to shareholder approval in ensuing AGM.
  • Matter placed with Audit Committee for approval and appointed Registered valuer for Valuation Report.

Meeting Details

  • Board meeting held on 17th July 2026 at 04:00 PM at registered office
  • Meeting concluded at 05:40 PM