40th Annual General Meeting of the Company to be held on Thursday, 28th August, 2025 at 02.00 P.M.
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Awaiting price reaction for this filing.
Pet Plastics Ltd has called its 40th AGM on 28th August 2025 at 2:00 PM in Mumbai. The meeting will consider several major special business items: (1) changing the company name from 'Pet Plastics Ltd' to 'Bharatam Ventures Limited', (2) altering the main object clause to shift into financial services such as business correspondent, loan services, insurance, mutual funds, and DSA activities — a significant pivot away from its plastics identity, (3) regularising the appointments of Mr. Abhinath Shinde (Promoter Director) and Mr. Harshad Narsinhbhai Patel (Independent Director). Shareholders will also be asked to approve related party transactions up to Rs. 100 crore for FY 2025-26, a material RPT involving assignment of Rs. 2 crore of advances to related party Pet Stock Brokers for just Rs. 35 lakh (an ~83% haircut), and enhanced borrowing/loan powers up to Rs. 200 crore each under Sections 180, 185, and 186. Book closure runs from 22nd August to 28th August 2025, with e-voting open from 25th to 27th August 2025.
This is a transformative AGM for shareholders — the company is being repositioned from a plastics business to a financial services entity under a new name, which could materially change the stock's character and valuation. The related-party loan assignment at a steep discount (Rs 2 crore for Rs 35 lakh) and large omnibus RPT/borrowing approvals of Rs 200 crore warrant close scrutiny by minority shareholders before voting.