Globe Textiles (India) Limited has informed the Exchange about Disclosure of Events or Information under Regulation 30 and Schedule III of SEBI LODR Regulations, 2015'.
GLOBE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board of Globe Textiles (India) Limited, at its meeting on August 7, 2025, approved multiple corporate actions. It appointed M/s. Mihir Thakkar & Associates as the new Internal Auditor for FY 2025-26 after the resignation of the previous internal auditor, and M/s. Maulin Shah & Associates as the Cost Auditor for FY 2025-26. The board also approved a proposed change of the company's name from "Globe Textiles (India) Limited" to either "Globe Enterprises (India) Limited" or "Globe Industries (India) Limited," along with related amendments to MOA and AOA, pending regulatory and shareholder approvals. Additionally, an amendment was approved to the ongoing scheme of demerger with Morabia Creation Limited, ensuring pledged shares are correspondingly replaced upon allotment. Mr. Bharat Mulchandbhai Bhavsar (DIN: 11230569), a 73-year-old textile industry veteran with 49 years of experience, was appointed as an Additional Independent (Non-Executive) Director with immediate effect.
The name change signals a potential strategic pivot away from the textiles identity, while the resignation of the internal auditor is a governance point to watch. The demerger-related amendment protects lender security interests and should not materially affect shareholders. The new independent director appointment strengthens board oversight. Shareholders should track the name change and demerger scheme progress for any near-term stock price moves.