Outcome of the Board Meeting of the Company held today i.e. January 14, 2026
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The Board of Directors of Shraddha Prime Projects Ltd met on January 14, 2026, and approved four key items. First, an increase in the company's authorised share capital from ₹45 crore (4.5 crore equity shares of ₹10 each) to ₹65 crore (6.5 crore equity shares of ₹10 each), creating an additional ₹20 crore (2 crore shares), subject to shareholder approval via postal ballot along with an amendment to the Capital Clause of the Memorandum of Association. Second, the appointment of Mr. Ashok Uttam Chandanshive (DIN:11038160) as an Additional Non-Executive Independent Director, also subject to shareholder regularisation through the postal ballot. Mr. Chandanshive is a qualified Chartered Accountant, Lawyer (LLB), and M.Com with experience in banking, NBFC advisory, corporate law, finance, and taxation. Third, the Board approved the draft postal ballot notice covering both resolutions, with Ms. Neeta H. Desai (M/s ND & Associates) appointed as scrutinizer and NSDL appointed as the e-voting agency.
The authorised capital expansion signals likely future fundraising or stock issuances, though no actual capital raise has been announced yet. Shareholders will get to vote on both the capital increase and the new independent director via postal ballot. The addition of a CA-qualified, law-trained independent director strengthens the board's financial and legal oversight.