We are enclosing herewith a copy of the Notice dated May 13, 2025 convening the 68th Annual General Meeting of the Company on Friday, August 22, 2025 at 11.00 A.M.
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Duroply Industries has issued notice for its 68th AGM to be held on Friday, August 22, 2025 at 11:00 A.M. via video conferencing (VC/OAVM). Ordinary business includes adoption of FY25 audited financial statements and re-appointment of Executive Chairman Sudeep Chitlangia (DIN: 00093908, 36+ years in plywood industry, holds 3,65,668 shares, drew Rs 1.01 crore remuneration in FY25). Special business includes appointment of CS Sumantra Sinha as Secretarial Auditor for five years (FY26–FY30) at Rs 50,000 per annum, and a proposal to double the company's borrowing limit from Rs 100 crore to Rs 200 crore under Section 180(1)(c), with corresponding charge-creation authority under Section 180(1)(a) — both via special resolutions. E-voting runs August 19–21, 2025, with cut-off date of August 15, 2025.
The most material item is the doubling of the borrowing ceiling to Rs 200 crore, signalling that management anticipates higher funding needs — likely for expansion, working capital, or acquisitions — which could mean greater leverage and interest costs going forward. Director re-appointment and the new secretarial auditor are routine governance items requiring shareholder approval.