Globe Textiles (India) Limited has informed the Exchange regarding Notice of undefined to be held on September 26, 2025
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Globe Textiles (India) Limited has filed the notice for its 30th AGM, scheduled for September 26, 2025 at 11:30 AM via video conferencing. Key business items include adopting FY25 audited financial statements, re-appointing Managing Director Bhavik Suryakant Parikh (who retires by rotation), ratifying Cost Auditor remuneration of Rs. 50,000, and appointing M/s K Jatin & Co. as Secretarial Auditors for five years (FY26–FY30). The company is also seeking shareholder approval to change its name to 'Globe Enterprises (India) Limited', increase borrowing powers and investment limits to Rs. 500 crore each, approve related-party transactions of up to Rs. 250 crore with Globe Denwash Pvt Ltd and Rs. 50 crore with Kunthunath Impex LLP, and convert up to Rs. 100 crore of loans from directors/promoters into equity. Additionally, Mr. Bharat Mulchandbhai Bhavsar is proposed to be appointed as Independent Director for five years. Remote e-voting runs from September 23 to September 25, 2025.
Shareholders will vote on several material proposals, including a corporate name change, a sharp rise in permitted borrowings and related-party exposure (up to Rs. 500 crore each), and equity dilution via loan-to-equity conversion of promoter/director loans up to Rs. 100 crore. Approval of the name change and large RPT limits could affect investor perception, governance scrutiny, and the stock's risk profile.