Commercial Syn Bags Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on July 14, 2025
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Commercial Syn Bags Limited has called an Extra Ordinary General Meeting on Monday, July 14, 2025 at 1:00 PM via Video Conferencing, with the registered office in Indore as the deemed venue. Three special business items will be taken up: (1) Alteration of the Memorandum of Association (MoA) to insert a new Clause 52A allowing the company to enter the power generation business, including solar, wind, hydro, biomass, and other conventional and non-conventional energy sources, mainly for captive use; (2) Alteration of the Articles of Association (AoA) to add new definitions for 'Power Purchase Agreement / Wheeling Agreement' and 'Projects', as required by Madhya Pradesh Power Transmission Company Limited (MPPTCL) for captive power users; (3) Confirmation of the appointment of CA Sunil Agrawal (DIN: 11160031) as an Independent Director for a first term of five consecutive years effective June 19, 2025. The cut-off date for e-voting eligibility is July 7, 2025, and remote e-voting will be open from July 11 to July 13, 2025.
The EGM signals a strategic move by the company, a manufacturer of FIBC, woven sacks and tarpaulins, to diversify into renewable power generation (mainly solar) for captive consumption, which could lower long-term energy costs. Shareholders need to vote on these special resolutions for the diversification and board appointment to take effect.