Key Decisions and Approvals

Annual Report and Annual General Meeting

The Board approved the Annual Report for FY ended 31st March 2026, including Board's Report and annexures. Approved notice convening the 33rd Annual General Meeting (AGM) scheduled for Friday, 21st August 2026 at 01:00 PM through Video Conferencing/Other Audio-Visual Means.

Change in Company Name and Business Focus

The Board approved changing the company name from "Shentracon Chemicals Limited" to "Midaas Fashions Limited", subject to approval of Members, BSE Limited, and other regulatory/statutory authorities. The Registrar of Companies has approved the availability of the proposed name.

Registered Office Relocation

Approved shifting of Registered Office from the State of West Bengal to the State of Maharashtra, subject to Member approval and other regulatory/statutory approvals.

Memorandum of Association Alterations

The Board approved alteration of the Object Clause and adoption of a new Memorandum of Association in conformity with the Companies Act, 2013, subject to requisite approvals. The new Object Clause focuses on:

  • Establishing retail/wholesale outlets, brand stores, and e-commerce platforms for jewellery and lifestyle products
  • Manufacturing, designing, trading, importing, and exporting all kinds of jewellery including imitation jewellery, fashion jewellery, gold-plated jewellery, silver jewellery, lab-grown diamond jewellery, and accessories
  • The Memorandum will be aligned with Table A of Schedule I to the Companies Act, 2013

Equity Share Sub-Division

The Board approved sub-division/split of each existing Equity Share of face value ₹10 into 2 Equity Shares of face value ₹5 each, fully paid-up and ranking pari passu. This is subject to approval of Members and other authorities.

Rationale: To make equity shares more affordable, enhance liquidity in capital markets, widen shareholder base, and encourage retail and individual investor participation.

Capital Structure Impact:

  • Authorized Equity Shares: Pre-split 51,00,000 shares → Post-split 1,02,00,000 shares
  • Authorized Equity Share Capital: Remains unchanged at ₹5,10,00,000
  • Issued, Subscribed and Paid-up Equity Shares: Pre-split 44,38,143 shares → Post-split 88,76,286 shares
  • Issued, Subscribed and Paid-up Equity Share Capital: Remains unchanged at ₹4,43,81,430

Preference Share Capital Restructuring

The Board approved specifying face value of Cumulative Non-Convertible Redeemable Preference Shares at ₹50 each and restructuring Authorized Preference Share Capital into 12,80,000 shares of ₹50 each, without changing aggregate value of ₹6,40,00,000.

Capital Structure Details:

  • Authorized CNCRPS: Pre-restructuring 19,00,000 shares (face value not specified) → Post-restructuring 12,80,000 shares of ₹50 each
  • Authorized Preference Share Capital: Remains unchanged at ₹6,40,00,000
  • Issued, Subscribed and Paid-up CNCRPS: Remains unchanged at 6,06,000 shares
  • Issued, Subscribed and Paid-up Preference Share Capital: Remains unchanged at ₹3,03,00,000

Corporate Lending and Investment Authorities

The Board approved two significant financial authorities:

1. Under Section 186: Making loans, investments, giving guarantees and providing securities up to an aggregate amount not exceeding ₹50,00,00,000 (Fifty Crores), subject to Member approval.

2. Under Section 185: Granting loans (including loans represented by book debts), giving guarantees or providing securities in connection with loans to any person in whom any Director is interested, up to an aggregate amount not exceeding ₹50,00,00,000 (Fifty Crores), subject to Member approval.

AGM Arrangements

Appointed Mr. Ajay Yadav, Practising Company Secretary, as Scrutinizer and Central Depository Services (India) Limited (CDSL) as agency for providing remote e-voting and e-voting facilities for the Annual General Meeting.

Meeting Details

The Board Meeting commenced at 03:00 PM and concluded at 03:30 PM on 28th July 2026.

Pending Approvals

All major decisions (name change, office shift, MOA alterations, share subdivision, preference share restructuring, and lending authorities) are subject to approval of Members at the AGM and other applicable regulatory/statutory authorities.