THE ANNUAL REPORT FOR THE FINANCIAL YEAR 2024-25
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Pet Plastics Ltd submitted its revised 40th Annual Report for FY 2024-25 to BSE, correcting an earlier clerical error where the AGM number was wrongly mentioned as the 39th instead of the 40th. The 40th AGM is scheduled for Thursday, August 28, 2025, at 2:00 PM at Panchratna Building, Opera House, Mumbai. Several major corporate actions are on the AGM agenda, most notably a proposed change of the company's name from 'Pet Plastics Ltd' to 'Bharatam Ventures Limited' and a complete shift in the main object clause to financial services — including acting as corporate business correspondent, business facilitator, loan service provider, and direct selling agent for banks, NBFCs, insurance, and mutual funds. Other special business items include approval for related party transactions up to Rs. 100 crore for FY 2025-26, assignment of Rs. 2 crore of advances to promoter-group entity Pet Stock Brokers Limited for just Rs. 35 lakh (an ~82% discount), raising the borrowing limit to Rs. 200 crore, and regularization of new directors. E-voting window runs from August 25 to August 27, 2025.
This is a significant corporate pivot — the company is moving away from its plastics business identity into financial services under a new name, while also seeking large new borrowing powers and related-party transaction limits. Shareholders should closely review the sharp discount on the Rs. 2 crore advance being assigned to a promoter-group entity for Rs. 35 lakh, as well as the scale of new RPT and borrowing approvals being sought.