Notice of 33rd Annual General Meeting of the Company
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Prag Bosimi Synthetics has called its 33rd AGM on 25th September 2025 at 3:00 PM via video conferencing, with remote e-voting open from 22-24 September 2025. The notice covers six items, including adoption of FY25 audited financial statements, re-appointment of Mr. Devang Vyas (Non-Executive Director) by rotation, and re-appointment of Mr. Raktim Kumar Das as Whole Time Director for another 5-year term (June 2026 to June 2031) at his current reduced salary of Rs 65,000 basic per month. Shareholders will also be asked to approve a related party transaction framework and authorize loans/investments of up to Rs 25 Crores in subsidiaries and associates, with existing promoter loans standing at Rs 34.21 Crores at 4% interest (no interest charged so far). Additionally, M/s Ashok Patel and Associates will be appointed as Secretarial Auditor for 5 years at Rs 60,000 per year, and Mrs. Geetha Subramonia Iyer will be appointed as Independent Director for a 5-year term. The company noted it currently has negative capital, which is why managerial pay has been kept below the Schedule V ceiling.
The resolutions are largely procedural and governance-related, so limited direct share price impact is expected. However, the appointment of a new Independent Director and the explicit mention of negative capital are points shareholders should note — the re-appointment of the Whole Time Director at reduced pay signals management continuity amid financial stress. Approval of related party transactions up to Rs 25 Crore and existing promoter loans of Rs 34.21 Crore are key items for shareholders to evaluate.