Proceeding of 38th Annual General Meeting of the Company held on September 29, 2025
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Bacil Pharma held its 38th AGM on September 29, 2025 via video conferencing, attended by 48 members. Shareholders adopted the audited financial statements for FY ended March 31, 2025 and approved the reappointment of Ms. Chaitali Kalpataru Shah as Director (retiring by rotation) and as Executive Director. They also approved the appointment of Ms. Vivek Mukesh Yadav as Independent Director and M/s Sarang Shivajirao Chavan & Associates as new Statutory Auditors to fill a casual vacancy caused by the resignation of the previous auditors. M/s Ramesh Chandra Bagdi & Associates was appointed as Secretarial Auditor for a 5-year term. Shareholders cleared proposals to raise the borrowing limit under Section 180(1)(c), give loans and investments beyond Section 186 limits, and raise funds through secured/unsecured loans with an option to convert into equity shares. They also approved reclassifying the Promoter and Promoter Group into the Public shareholder category. Voting results are to be shared within 48 hours.
The auditor change due to resignation and the promoter reclassification into the public category are notable governance events for shareholders to track. Approval of higher borrowing limits and a debt-to-equity conversion option signals the company may seek fresh funding soon, which could lead to equity dilution or debt exposure changes.