1. The Board considered and approved draft Notice of the Extraordinary General Meeting (EGM) of the Members of the Company to be circulated to the shareholders in compliance with the Companies ....
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Manglam Global Corporations' Board met on 25th March 2026 and approved several major items. An Extraordinary General Meeting (EGM) has been called for 27th April 2026 via video conferencing to seek shareholder approval. The Board approved acquiring 100% equity in Shri Krishnam Industries Pvt Ltd and Manglam Food Products Pvt Ltd, making them wholly owned subsidiaries. It also approved material related party transaction limits with promoter-linked entities, including commission/brokerage of up to ₹50 Crore, sale/purchase of agri commodities of up to ₹250 Crore each, and manufacturing services of up to ₹100 Crore each. Borrowing powers were enhanced up to ₹200 Crore under Section 180(1)(c). Additionally, terms for Independent Directors were approved, three policies (Material Subsidiaries, Archival, Dividend Distribution) were adopted, and the Kotak Mahindra Bank account was closed.
Shareholders should review the EGM notice carefully, as the resolutions include significant related party transactions with promoter-group companies and family members, which may raise governance concerns. The acquisitions and higher borrowing limits signal a major expansion phase, potentially diluting or leveraging the company but also indicating growth ambitions in agri-commodities.