We wish to inform you that the extra Ordinary General meeting of our Company is Scheduled to be held on Monday, March 30, 2026 at 4.00 P.M. through Video Conference/ Other Audio Visual Means (OAVM).
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Apollo Ingredients Limited has called an Extraordinary General Meeting (EGM) on March 30, 2026, at 4:00 PM via video conferencing. The sole item on the agenda is seeking shareholder approval to ratify and reallocate proceeds from a ₹5 crore Rights Issue completed in mid-2025. The company used ₹3 crore of these proceeds for a 10-year lease of land and building from a related party—a use not originally disclosed in the Rights Issue objectives, which constitutes a deviation requiring shareholder ratification under Section 27 of the Companies Act and SEBI LODR Regulation 32. The company is also seeking approval to reallocate ₹0.02 crore saved on Issue Expenses back to working capital, and to revise the working capital allocation from ₹3.65 crore to ₹4.05 crore. Remote e-voting will run from March 27 (9:00 AM) to March 29, 2026 (5:00 PM), with March 23 as the cut-off date. The Register of Members will be closed from March 23 to March 30, 2026.
Shareholders are being asked to retroactively approve a ₹3 crore diversion of rights issue money toward a related-party lease that was not part of the originally stated purpose. While the company notes related-party approval was obtained at the September 2025 AGM, the deviation from stated Rights Issue objectives may raise corporate governance concerns for some investors. The voting outcome is important—a rejection could trigger regulatory consequences, while approval would regularize the deviation.