Key Board Approvals

1. Rights Issue Approval: The Board approved raising funds through issuance and allotment of equity shares with face value of ₹10 each for an aggregate amount not exceeding ₹70,00,00,000 (Seventy Crores) on a rights issue basis to eligible equity shareholders. The specific terms, conditions, price, and right entitlement ratio will be decided by the Board or Rights Issue Committee. The record date will be notified subsequently, subject to receipt of applicable regulatory and statutory approvals under SEBI (ICDR) Regulations, 2018, SEBI (LODR) Regulations, 2015, and Companies Act, 2013.

2. Document Approval: Approved the Draft Letter of Offer and other relevant documents for the Rights Issue to be filed with BSE Limited.

3. Committee Formation: Constituted a Rights Issue Committee comprising:

  • Mr. Sumit Harjibhai Gol (Chairman)
  • Mr. Kishan Rajeshbhai Mendapara (Member)
  • Khushbu Hemanshu Nadapara (Member)

The committee is authorized to appoint intermediaries and perform all necessary acts in connection with the Rights Issue.

4. Rescinding of Previous Resolution: Approved rescinding of Special Resolution passed at Extra Ordinary General Meeting held on 20th February, 2026 regarding increase in Authorized Share Capital and consequent alteration in Capital Clause of Memorandum of Association, subject to shareholder approval.

5. Authorized Share Capital Increase: Approved increase in Authorized Share Capital from ₹7,50,00,000 (Seven Crore Fifty Lakhs) divided into 75,00,000 (Seventy Five Lakhs) Equity Shares of ₹10 each to ₹77,50,00,000 (Seventy Seven Crore Fifty Lakhs) divided into 7,75,00,000 (Seven Crore Seventy Five Lakhs) Equity Shares of ₹10 each. This is subject to consequent amendment in Capital Clause (Clause V) of Memorandum of Association and shareholder approval.

6. Promoter Reclassification: Approved request received from multiple promoter group entities dated 29th July, 2026 for reclassification from "Promoter and Promoter Group Category to Public Category" under Regulation 31A of SEBI (LODR) Regulations, 2015. The request is subject to approval from BSE Limited.

The Board noted that:

  • Mr. Chandraprabha K. Bhatt and Mr. Jayesh Bachubhai Chauhan (promoter group members) have passed away
  • H B Builders Pvt. Ltd. (promoter group member) has been struck off from the Register of Companies

Shareholding details of requesting entities as of 29th July, 2026:

  • Kantilal Patel: 1,74,010 shares (3.12% holding)
  • Mukesh Chinubhai Shah: 19 shares (0% holding)
  • All other requesting entities showed nil holdings

7. Postal Ballot Approval: Approved conducting postal ballot through e-voting for shareholder approval on:

a) Rescinding of Special Resolution passed at EGM on 20th February, 2026

b) Increase in Authorized Share Capital

Cut-off date for voter eligibility: Friday, 31st July, 2026

8. Scrutinizer Appointment: Appointed Shubhangi Rajkumar Agarwal, Practicing Company Secretary, as Scrutinizer for the postal ballot process.

Meeting Details

The Board meeting commenced at 3:00 PM and concluded at 3:40 PM at the registered office of the Company.

Authorization

Mr. Sumit Harjibhai Gol, Managing Director (DIN: 11367027), is authorized to sign and submit all necessary documents to regulatory authorities.