Notice of 20th Annual General Meeting of the Company
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Avax Apparels and Ornaments Limited (BSE: 544337), a recently listed company (January 14, 2025), has sent out the notice for its 20th AGM scheduled for Friday, August 29, 2025 at 03:30 PM IST via video conferencing. The remote e-voting window runs from August 26, 2025 (9:00 AM) to August 28, 2025 (5:00 PM), with August 22, 2025 as the cut-off date to determine eligible voters. Shareholders will vote on adopting FY25 financial statements, re-appointing Whole-Time Directors Mr. Harish Kumar and Mrs. Deepika Garg (each for 3 years from Sept 1, 2025, with remuneration capped at Rs. 30 lakh per annum), re-appointing statutory auditor M/s N K S C & Co. for 5 years till FY 2030, and confirming Mr. Rajat Goel as Independent Director. The company is also seeking shareholder approval to raise its overall borrowing limit to Rs. 20 crore and allow loans/investments up to Rs. 20 crore, suggesting plans for potential expansion or increased working capital needs.
This is a routine AGM notice, but the proposed increase in borrowing limits to Rs. 20 crore — a meaningful amount for a recently listed small-cap — signals that the company may be gearing up for expansion, acquisitions, or higher working capital requirements. Shareholders should review the borrowing, investment, and managerial remuneration resolutions, as these could impact future cash flows and dilution risk. E-voting participation is important as special resolutions require a 75% majority.