Announced Sat, 12 Jul · 15:57 IST

Board Meeting Outcome

Board & Shareholder Meetings View source PDF

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AI summary

The board of Ind Agiv Commerce Ltd met on July 12, 2025 and approved several routine and non-routine items. On the routine side, it approved the Secretarial Audit Report for FY ended March 31, 2025, re-appointed Mehta & Mehta as Secretarial Auditor for 5 years, appointed Manoj Kumar S. Patel & Associates as Internal Auditor for FY 2025-26, and fixed August 11, 2025 for the 39th AGM via video conferencing. E-voting will run from August 8 to August 10, 2025. On the more material side, the board decided to seek shareholder ratification at the upcoming AGM for three prior special resolutions passed on March 22, 2025 — converting the credit balances of directors/relatives, AD Techno Japan INC, and Sow Japan Company Limited into equity shares, and issuing fresh equity shares on a preferential basis to promoter and non-promoter groups.

Likely market impact

Existing shareholders should note the proposed conversion of outstanding credit balances (from related parties and associates) into equity and the planned preferential allotment to promoters — both could lead to share dilution. Voting on these matters takes place at the AGM on August 11, 2025.