Meeting Proceedings

The 37th Annual General Meeting (AGM) of Gangotri Textiles Limited for the financial year 2025-26 was held on Friday, 21st August 2026 at 10:30 AM through Video Conferencing/Other Audio Visual Means (OAVM). The meeting was conducted in accordance with the Companies Act 2013, MCA circulars, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Attendance

34 shareholders attended the meeting. Key attendees included:

  • Sri G. Gunasekaran (Interim Resolution Professional)
  • Sri Manoj Kumar Tibrewal (Managing Director)
  • Sri Srinivasan M (CDSL E-voting Agent)
  • Sri B. Krishnamoorthy (Scrutinizer)
  • Sri Jayakumar (MUFG Link Intime India Ltd - Registrar & Share Transfer Agents)

CIRP Status Update

The Chairman, Mr. G. Gunasekaran (Interim Resolution Professional), informed that the Hon'ble National Company Law Tribunal (NCLT), Chennai Bench in CP(IB)/310(CHE) 2025 vide order dated 7th August 2026 admitted the petition filed by the Company under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC). Mr. G. Gunasekaran (IBBI Registration No. IBBI/IPA-001/IP-P00681/2017-2018/11178) was appointed as Interim Resolution Professional for the CIRP. The order was communicated from the Registry on 19th August 2026.

As per IBC provisions, the Board of Directors stand suspended, and the Interim Resolution Professional has taken control and custody of the Corporate Debtor to manage its affairs.

Financial Statements Approval

The Chairman stated that the audited financial statements for FY 2025-26 were approved by the Board of Directors in their meeting held on 14th May 2026, and the Statutory Audit Report was obtained. The company had issued Notice dated 15th May 2026 for the 37th AGM to be held on 21st August 2026.

Since the Board of Directors was suspended effective 7th August 2026, the Interim Resolution Professional issued a Corrigendum to the Notice of AGM on 20th August 2026 and chaired the meeting as per IBC provisions.

Agenda Item 1: Financial Results for 31-3-2026

The Financial Statements - Balance Sheet as at 31st March 2026, Profit & Loss Account for the year ended 31st March 2026, Directors' Report, and Auditors' Report were presented to shareholders. No queries were received from shareholders regarding the financial accounts. After discussion, the Profit & Loss Account for FY ended 31st March 2026, Balance Sheet as at that date, and Directors' and Auditors' Reports were approved and adopted.

Voting Process

Shareholders were given the option to cast their vote through e-voting, details of which were sent along with the Annual Report. Mr. B. Krishnamoorthy was appointed as Scrutinizer to process the votes and declare results. The Scrutinizer's Report was made available on stock exchange websites (National Stock Exchange of India Limited and BSE Limited) and the company's website (www.gangotirtextiles.co.in).

Meeting Conclusion

The Chairman thanked shareholders for their continued support and closed the meeting at 10:55 AM.