Submission of Notice of 31st AGM.
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Novelix Pharmaceuticals (BSE: 536565) has notified its 31st AGM to be held on Friday, September 19, 2025 at 3:00 PM via video conferencing. Ordinary business includes adopting FY2024-25 audited financial statements and re-appointing Mr. Jivamohan Divakar Valluri as a Non-Executive Director. Several special resolutions are on the table: (1) appointing M/s. Khushbu Kanwar & Co. as Secretarial Auditors for a 5-year term from April 2025 to March 2030, (2) raising the borrowing limit under Section 180(1)(c) to Rs. 500 Crores, (3) approving creation of mortgage or charge on company assets under Section 180(1)(a), (4) approving loans, guarantees and investments up to Rs. 500 Crores under Section 186, (5) approving related-party transactions up to Rs. 500 Crores under Section 185, (6) appointing Ms. Mayuri Baidya as Independent Director for 5 years, and (7) appointing Mr. Gattu Gnana Prakash as Non-Executive Non-Independent Director.
The proposed Rs. 500 Crore borrowing and investment limits are extremely large for a small-cap pharma company and signal plans for major expansion, acquisitions, or fundraising activity that could significantly affect shareholder equity or debt levels. Shareholders should scrutinize the Section 180, 185 and 186 resolutions carefully, as approval gives the board wide latitude to raise debt and deploy capital.