Outcome of the 32nd Annual General Meeting held on 14th day of July, 2025
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Adhata Global Ltd (formerly M V Cotspin Limited) held its 32nd AGM on 14 July 2025 where all six resolutions were passed. Members approved the audited financial statements for FY ended 31 March 2025 and re-appointed Mr. Vivek Agarwala as a director liable to retire by rotation. M/s C. K. Chandak & Co. was appointed as Statutory Auditor until the 2026 AGM, and Mr. Ravikesh Kumar Sinha was appointed as Non-Executive Independent Director for a 5-year term up to 2030. Members also approved material related party transactions with promoter group entity M.V Credit Capital Private Limited for borrowings up to Rs. 2 crore. Additionally, the issue of up to 20 lakh convertible warrants at Rs. 50 per warrant (face value Rs. 10), aggregating Rs. 10 crore, on a preferential basis to promoter group/public was cleared.
The Rs. 10 crore preferential warrant issue could result in equity dilution when converted, while the Rs. 2 crore related-party borrowing signals continued financial support from the promoter group. The independent director appointment strengthens board governance, though the small-cap nature and related-party dealings warrant close monitoring by retail investors.