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Padam Cotton Yarns Limited held an Extraordinary General Meeting on August 8, 2025, where shareholders approved all three resolutions with overwhelming majority. Resolution 1 (Ordinary) to increase the Authorised Share Capital and alter the MOA was passed with 99.99% votes in favour. Resolution 2 (Special) to shift the registered office from Haryana to Gujarat received 99.93% support. Resolution 3 (Ordinary) to appoint M/s. SVJK & Associates, Chartered Accountants, Ahmedabad as Statutory Auditors (to fill a casual vacancy) was passed with 99.99% in favour. Only public shareholders voted, with promoter and promoter group abstaining entirely. Of the 14,496 shareholders on record, only 30 public shareholders attended in person, and total votes polled represented 17.80% of outstanding shares.
The approved increase in Authorised Share Capital hints at potential fundraising or expansion plans ahead, which could dilute existing shareholders if new shares are issued. The shift of registered office to Gujarat consolidates operations with the existing corporate office in Ahmedabad. The auditor change to a Gujarat-based firm aligns with the relocation.