Notice of 32nd Annual General Meeting 2025 to be held on 30.09.2025
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Piccadily Sugar & Allied Industries has called its 32nd AGM on 30 September 2025 at 12:30 PM, to be held through video conferencing. The book closure runs from 24 to 30 September 2025, and the e-voting window is open from 27 September (9 AM) to 29 September (5 PM). Shareholders will vote on adopting the FY25 audited financials, re-appointing Ms. Avneet Kaur (rotational director) and Mr. Naveen Pawar as Whole-time Director for one year (at a nominal salary of Rs 1 per month). Other key resolutions include issuing up to 1.2 crore 5% Non-Convertible Cumulative Redeemable Preference Shares worth up to Rs 12 crore on private placement to the promoter group (including possible conversion of promoter loans into NCRPS), approving related party transactions with Piccadilly Agro Industries up to Rs 25 crore per year for five years, selling off the Bawal plant in Haryana, and appointing M/s P Chadha & Associates as Secretarial Auditor for five years. The fund-raising is linked to the company's plan to upgrade machinery and set up an ethanol project at its Patran, Punjab facility.
Shareholders should review several material items: a Rs 12 crore fund raise via promoter preference shares (with loan conversion possible), disposal of the Bawal plant, and ongoing related party transactions of up to Rs 25 crore per year. Outcome of these resolutions could affect capital structure, promoter shareholding pattern, and the company's asset base.