Submission of Corrigendum to Notice of 37th Annual General Meeting relates to agenda Item no 7 of the AGM Notice
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Jattashankar Industries has issued a corrigendum to the notice of its 37th Annual General Meeting (scheduled for 20th September 2025 via video conferencing) correcting Item No. 7. Originally, the resolution sought to regularize Mr. Vishal Prakashbhai Ashara (DIN: 11150490) as a Director via an Ordinary Resolution; the corrected version upgrades his appointment to Executive Director for a 5-year term (21st June 2025 to 20th June 2030), to be passed as a Special Resolution. It is also clarified that he will not draw any remuneration from the company, making Schedule V of the Companies Act inapplicable. The AGM date, time, and all other agenda items remain unchanged. The broader AGM notice also reveals a shift in registered office from Mumbai to Pune, an expansion of the company's business objects to include agriculture products, edible oils and food processing, appointment of new Managing Director and Whole-Time Director (each at Rs. 12 lakh per annum), and a proposed increase in borrowing limit to Rs. 100 crore.
This is a procedural correction, but it upgrades Item No. 7 from an Ordinary Resolution (simple majority) to a Special Resolution (75% majority required), raising the approval bar. For shareholders, the more material items in the AGM are the proposed business diversification into agri-food/edible oils, the relocation to Pune, and the higher borrowing ceiling of Rs. 100 crore, which could signal expansion plans.