Meeting Details
- Meeting Type: 37th Annual General Meeting (AGM)
- Date: Wednesday, September 30, 2026
- Time: 3:00 PM
- Location: Conducted through Video Conference (VC) / Other Audio Visual Means (OAVM) facility
- Conclusion Time: 3:35 PM
Proposed Resolutions and Implications
The following nine resolutions were proposed for shareholder approval:
1. Resolution No. 1 (Ordinary): Adoption of audited Standalone financial statements for FY ended March 31, 2026, along with reports of Board of Directors and Auditors; and adoption of audited Consolidated financial statements for FY ended March 31, 2026, with Auditors' report.
2. Resolution No. 2 (Ordinary): Reappointment of Mr. Siddharth Vyas (DIN: 01833867) as director who retires by rotation.
3. Resolution No. 3 (Ordinary): Ratification of remuneration of Cost Auditor.
4. Resolution No. 4 (Special): Appointment of Mr. Ankit Kishorbhax Shah (DIN: 11821847) as Non-Executive Independent Director.
5. Resolution No. 5 (Special): Appointment of Mr. Jaldeep Prakashbhai Patel (DIN: 11821907) as Non-Executive Independent Director.
6. Resolution No. 6 (Ordinary): Increase and Alteration of Authorized Share Capital and consequent alteration in Capital Clause of Memorandum of Association.
7. Resolution No. 7 (Special): Approval of Loans, Investments, Guarantee under Section 185 of Companies Act, 2013.
8. Resolution No. 8 (Special): Approval for issuance of equity shares on preferential basis to Lenders upon conversion of part coupon payable on Non-Convertible Debentures under Resolution Plan per RBI framework.
9. Resolution No. 9 (Special): Approval for issuance of equity shares to Mr. Shashin Patel, Promoter, by conversion of existing unsecured loan on preferential basis.
Voting Process and Methods
The company provided multiple voting methods:
- Remote e-voting: Available through CDSL e-voting website from Sunday, September 27, 2026 at 09:00 AM to Tuesday, September 29, 2026 at 05:00 PM
- Cut-off date: Wednesday, September 23, 2026 for determining members eligible to vote
- Meeting e-voting: Members who hadn't voted remotely could vote during the meeting through e-voting facility on CDSL website, available for 30 minutes after meeting conclusion
Scrutinizer Appointment and Role
Mr. Ravi Kapoor, Practicing Company Secretary, was appointed as Scrutinizer pursuant to Section 109 of the Companies Act, 2013 to conduct both remote e-voting and e-voting at the AGM. The scrutinizer's report and results were to be submitted to BSE and NSE within two working days from meeting conclusion and placed on the company website.
Compliance with Laws and Regulations
The meeting was conducted in accordance with circulars issued by the Ministry of Corporate Affairs (MCA) and Securities and Exchange Board of India (SEBI). All requisite Statutory Registers were made available electronically on the company website for member inspection during the AGM.
Attendance and Participation
- All Directors attended including Chairman of Audit Committee, Stakeholders Relationship Committee, and Nomination and Remuneration Committee
- Mr. Devansh Gandhi, Partner of Manubhai & Shah LLP attended through VC
- Mr. Ravi Kapoor, Scrutinizer and Secretarial Auditor attended through VC
- Mr. Shashin V. Patel, Chairman and Managing Director chaired the meeting
- Mr. Hitesh Chelani, Chief Financial Officer joined through VC/OAVM
- The meeting confirmed required quorum was present
Additional Proceedings
The Chairman delivered a speech and read qualifications/observations raised by Statutory Auditors and Secretarial Auditors, along with the Board of Directors' reply to these observations. Management addressed questions/queries from shareholders registered as speakers. The meeting concluded with a vote of thanks at 3:35 PM.