Date, Location, and Type of Meeting
The 1/FY 2026-27 Extra Ordinary General Meeting of VIP Clothing Limited was held on Thursday, June 11, 2026 at 12:00 Noon (IST) through Video Conferencing (VC) / Other Audio Visual Means (OAVM). The meeting was conducted in compliance with the Companies Act, 2013, SEBI (LODR) Regulations, 2015, and relevant circulars from the Ministry of Corporate Affairs and SEBI.
Summary of Proposed Resolution and Implications
The single agenda item was a Special Resolution for "Issue of Warrants (convertible into equity shares of the Company) on preferential basis to Promoter and Non-Promoters Category." The Board had approved issuance of up to 2,12,00,000 warrants convertible into equity shares at an issue price of ₹22.50 per warrant, aggregating up to ₹47.70 crore. The proceeds are proposed to be utilised primarily towards working capital requirements, strengthening the balance sheet, supporting growth initiatives, and meeting general corporate purposes. The promoter family is participating substantially in this issue, reflecting confidence in the company's future prospects.
Voting Process and Methods Used
The Company provided the facility of remote e-voting on the resolution in accordance with Section 108 of the Companies Act, 2013 read with Companies (Management and Administration) Rules, 2014 & Regulation 44 of the SEBI (LODR) Regulations, 2015. Shareholders who had not cast votes through remote e-voting could avail the facility to cast votes electronically during the EGM.
Key Voting Outcomes and Scrutinizer Details
CS Ketan Ravindra Shirwadkar (Membership No. F13938 and COP No. 15386), proprietor of M/s. KRS AND CO., Practicing Company Secretaries, was appointed as Scrutinizer for conducting remote e-voting and e-voting at the meeting. The results of voting were to be declared immediately on receipt of the Scrutinizer's report (not exceeding two working days from the conclusion of EGM). The combined results of votes cast through remote e-voting before the EGM and e-voting during the meeting would be informed to BSE Limited and National Stock Exchange of India Limited and uploaded on the company's website www.vipclothing.in and MUFG Intime India Private Limited's website.
Participation and Attendance
Total 77 Members were present in person and/or through representatives of the Bodies Corporate. Six Directors were present at the meeting including four Independent Directors. Mr. Manish Kankani, partner of DMKH & Co., Statutory Auditors, was also present.
Compliance Confirmation
The meeting was conducted in compliance with the provisions of the Companies Act, 2013 (as amended) and rules made thereunder, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) and General circulars issued by SEBI from time to time.