Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, we wish to inform you that the members of the Company at the 35th Annual General ....
Awaiting price reaction for this filing.
Bharat Textiles & Proofing Industries informed the stock exchanges about the outcomes of its 35th Annual General Meeting held on 30th September 2024. Shareholders approved Material Related Party Transactions during the meeting. They also approved an increase in the company's borrowing powers under Section 180(1)(c) of the Companies Act, 2013, raising the limit to up to Rs. 50 Crores. The filing was made under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements. The company manufactures technical textiles including digital printable fabric, canvas, and tarpaulins.
The raised borrowing limit of Rs. 50 Crores gives the company more flexibility to raise debt for expansion or working capital, but it is just a shareholder authorization and not an actual fresh loan. Shareholders should note the approval of Material Related Party Transactions, which warrants scrutiny of related-party dealings.