Outcome of Board Meeting held on 23rd December 2025
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Bazel International's board met on 23rd December 2025 and reviewed two key matters. First, it took note of the operational progress of its subsidiary Arur Footwear Ltd (formerly S R Industries), which is being repositioned as a focused footwear business. BSE has withdrawn all SOP fines on the subsidiary for the period before 1 July 2024 following NCLT approval of the resolution plan, and granted a partial waiver for the September 2024 quarter, leaving a net payable of ₹26.08 lakh which was remitted under protest. Second, the board reviewed the status of 24.60 lakh share warrants allotted on a preferential basis in February 2025. Of the ₹7.77 crore balance consideration (the remaining 75%), the company has received ₹6.65 crore, with ₹1.13 crore still outstanding from allottees. The board has directed management to recover the balance within the prescribed timeline.
For shareholders, the SOP fine waivers and transition to a focused footwear business are mildly positive, but the ₹1.13 crore pending warrant money and the disputed fine payment kept 'under protest' signal some lingering compliance and recovery risks that could weigh on sentiment.