Notice of EGM scheduled to be on 25.09.2025
Awaiting price reaction for this filing.
Taaza International Limited (BSE Scrip Code: 537392) has called an EGM on September 25, 2025, via video conferencing to seek shareholder approval on 15 special business items. These include the appointment of new statutory auditors (M/s. Boppudi & Associates for FY 2024-25 and FY 2025-26 at Rs. 50,000 per annum), the appointment of five new directors (one Whole-time Director, two Non-Executive Directors, and two Independent Directors) appointed under the Resolution Plan approved by NCLT on June 12, 2025. The company also seeks approval to increase its authorized share capital from Rs. 10 crore to Rs. 25 crore (1 crore to 2.5 crore equity shares of Rs. 10 each), raise its borrowing limit under Section 180(1)(c) to Rs. 500 crore, allow creation of charges on assets, and approve loans/investments up to Rs. 500 crore under Section 186. Additionally, five material related party transactions are proposed — with Trinity Cleantech (Lease, Rs. 5 crore), Thunderplus Solutions (Services, Rs. 50 crore), Roqit Greenfleet Digital Solutions (Services, Rs. 50 crore), Saera Keto EV (Services, Rs. 50 crore), and ETO Motors (Services, Rs. 50 crore). The context is that the company underwent Corporate Insolvency Resolution Process (CIRP), and Keto Motors Private Limited is being amalgamated with Taaza International Limited under the approved Resolution Plan.
This EGM signals a major turnaround phase for Taaza International following its exit from insolvency, with a new board, fresh auditors, increased capital headroom, and a significant borrowing limit (up to Rs. 500 crore). Shareholders should note the multiple large related-party transactions (totalling up to Rs. 205 crore) involving promoter-linked entities, which could be a point of concern. The authorized capital increase suggests potential fundraising or share issuance plans ahead.