Intimation of completion of Dispatch of the Notice of EGM to shareholders
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Padam Cotton Yarns has completed dispatch of the Notice for an Extraordinary General Meeting (EGM) to be held on Friday, August 8, 2025, at 12:00 p.m. at the Corporate Office in Ahmedabad, Gujarat. Three special businesses will be taken up: (1) Increase in Authorized Share Capital from Rs. 13 crore to Rs. 22 crore divided into 22 crore equity shares of Re. 1 each, to facilitate future fund-raising via equity issuance; (2) Shift of the Registered Office from Haryana to Gujarat for operational and administrative convenience (Special Resolution required); (3) Appointment of M/s. SVJK & Associates, Chartered Accountants (FRN: 135182W) as Statutory Auditors to fill the casual vacancy caused by the resignation of M/s. Vinay Goel & Associates & Co. on June 2, 2025, due to pre-occupation. Remote e-voting will be open from August 5 (9:00 a.m.) to August 7 (5:00 p.m.) via CDSL, with cut-off date of August 1, 2025.
Shareholders should note three significant corporate actions requiring their vote: a 69% expansion in authorized share capital (signaling potential future equity dilution or fundraising), a state-level relocation of the registered office from Haryana to Gujarat, and a change of statutory auditors. The capital increase resolution is ordinary but its passage enables the company to issue more shares later, which could dilute existing shareholders depending on issuance terms. The auditor change is routine as it fills a casual vacancy, with the new auditor serving only until the next AGM.