Approved the Director's Report along with applicable annexures for the Financial Year ended 31st March, 2026
Approved the Notice of AGM for FY 2025-2026 pursuant to Section 101 of the Companies Act, 2013
Finalized the Calendar of Events for the AGM
Appointed Ms. Mayuri Sinha, Proprietor of M/s. Mayuri Sinha & Co., Practicing Company Secretaries, as Scrutinizer to scrutinize the e-voting process of the Annual General Meeting
2. Management Change
Approved change in designation of Mr. Avnish Jindal (DIN: 02293188) from Whole-time Director to Managing Director of the Company with effect from 5th September, 2026
Mr. Jindal holds a Master of Science (MSc) in Marketing from the University of Bath, UK, and has over a decade of diverse business experience across Food Grains, Textile, and Oil & Gas sectors
He is Brother-in-law of Mr. Piyush Jindal and cousin of Mr. Nilesh Jindal
Subject to approval of members in the ensuing AGM
3. Stock Split of Preference Shares
Approved sub-division of company's 1 Preference share of face value of ₹10 each into 5 preference shares of face value of ₹2 each
Rationale: To enhance liquidity of the company's shares in the stock market and make them more affordable and accessible to a wider base of investors
Expected to increase trading volumes and broaden shareholder base without affecting overall capital structure or intrinsic value
Subject to approval of shareholders at AGM and other required approvals
Record date to be decided by the board and intimated to exchange
Expected completion within 1-2 months from shareholder approval
4. Alteration of Memorandum of Association
Approved alteration in Capital Clause of Memorandum of Association to accommodate the preference share sub-division
Authorized Share Capital to be amended to: ₹6,05,00,000/- comprising of 1,77,50,000 Equity Shares of ₹2/- each and 1,25,00,000 Preference Shares of ₹2/- each
Subject to approval of shareholders pursuant to Sections 13 and 61 of the Companies Act, 2013
5. Preferential Allotment of Compulsorily Convertible Preference Shares
Approved issuance of up to 26,29,416 Compulsorily Convertible Preference Shares (CCPS) of face value of ₹2/- each at a premium of ₹89 per CCPS (issue price of ₹91 per CCPS)
Total issue size: ₹23,92,76,856/-
To be allotted to 56 investors (promoter and non-promoter category) as listed in Annexure-V
CCPS shall be mandatorily converted no later than 18 months from date of allotment
Issuance in accordance with SEBI ICDR Regulations, Companies Act 2013, and other applicable regulations
Subject to approval of members at ensuing AGM and other regulatory authorities
Post-issue shareholding percentage calculated at 13.04% based on fully diluted post-issue paid-up share capital
6. Fundraising Approval
Approved prior approval for raising funds up to ₹100 crore through unsecured loan from directors & promoters of the company
Option to convert into equity shares in future as per terms of loan agreement
Subject to approval of shareholders at ensuing AGM
