Pursuant to Regulation 30 read with Para A of Part A of Schedule 111 of SEBI (LODR) Regulations,2015 we here by inform that members of the Company at the EGM held on 13.02.2026 approved ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Paramount Cosmetics India held an Extraordinary General Meeting (EGM) on February 13, 2026, where shareholders approved three key proposals via special resolution. First, the Articles of Association were amended to exempt the Managing Director (Hiitesh Topiiwaalla) from retirement by rotation, ensuring leadership continuity. Second, shareholders approved the sale of land, building, and plant & machinery located in Hosur, Tamil Nadu to related party Paramount Kum Kum Private Limited for approximately ₹3 crore at arm's length basis. Third, approval was granted for the disposal of another fixed asset property situated in Umersadi, Pardi (Gujarat) for an estimated ₹60 lakhs, citing business restructuring and better cash flow management. The Audit Committee and Board had earlier approved all items on January 17, 2026.
The asset monetisation moves could improve the company's cash flow and working capital, but the ₹3 crore sale to a related party may raise governance questions among minority shareholders. Exempting the MD from retirement by rotation gives management stability but reduces the periodic shareholder vote on the MD's directorship.