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Banganga Paper Industries Limited held its EGM on January 14, 2026 via video conferencing, with 28 members attending. The meeting started late (12:02 PM) due to a technical glitch and concluded at 12:46 PM. Shareholders transacted 10 business items, including proposals to increase authorised share capital, raise borrowing limits, issue equity shares and convertible warrants on a preferential basis, sell a material subsidiary, change the company's name again (already renamed once from Inertia Steel), shift the registered office out of Maharashtra, and appoint a new statutory auditor to fill a casual vacancy. Voting was conducted via remote e-voting through CDSL, and results will be submitted to BSE within two working days. Members raised queries about future business plans, which were addressed by the chairperson.
Multiple significant corporate actions were approved in principle, including a potential capital raise through preferential share/warrant issuance, a possible name change and relocation out of Maharashtra, divestment of a material subsidiary, and increased borrowing authority. Shareholders should watch for the e-voting results and any subsequent announcements, as these resolutions could materially change the company's capital structure, identity, and operations.