THE ANNUAL REPORT FOR THE FINANCIAL YEAR 2024-25
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Pet Plastics Ltd has filed its 39th Annual Report for FY2024-25 and the AGM notice for a meeting on August 28, 2025. The AGM agenda includes a proposal to change the company's name to 'Bharatam Ventures Limited' and a major shift in business objects from plastics to financial services (acting as business correspondent, loan service provider, DSA, distribution of loans, insurance, mutual funds, etc.). The company is seeking shareholder approval for related party transactions up to Rs. 100 Crores for FY2025-26 with multiple promoter-linked entities including Indifly Ventures, Indipe Paytech, Finaleap, and Vyenkatesh group companies. A material related party transaction is proposed to assign advances of Rs. 2 Crores outstanding to Pet Stock Brokers Ltd (a promoter group entity) for just Rs. 35 Lakhs — a steep discount implying a write-off of Rs. 1.65 Crores. The board is also seeking enhanced borrowing, lending, and investment powers of up to Rs. 200 Crores each, and proposing regularisation of newly appointed directors.
Shareholders should note the company is undergoing a fundamental identity and business change — moving from plastics to financial services with new promoter-aligned directors. The discounted divestment of Rs. 2 Crore advances to a promoter group entity for Rs. 35 Lakhs and the large proposed related party transaction envelope of Rs. 100 Crores are governance red flags warranting closer scrutiny before voting.