Intimation for proceedings of the AGM
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The company held its 36th AGM on September 30, 2025 via video conferencing, with 53 members in attendance and chaired by Mr. Sanjay Kumar Jain. Nine business items were transacted, including adoption of FY2025 audited financial statements, re-appointment of Mr. Arun Kumar Sharma as director and Whole-Time Director, and appointment of M/s Monika Kohli & Associates as Secretarial Auditors. Shareholders were also asked to approve several capital-raising and related-party measures: up to 13,13,131 Compulsorily Convertible Preference Shares (CCPS) to the Promoter Group by converting outstanding unsecured loans, up to 7,50,000 Fully Convertible Warrants to Promoter Group entities, and 7,50,000 Sweat Equity Shares to COO Mr. Varun Gupta. Other items included an increase in Mr. Varun Gupta's remuneration (a related-party transaction) and Section 186 approval for loans, guarantees, and investments beyond prescribed thresholds. Voting results will be declared within two working days. The Chairman also highlighted developments in India's alcoholic beverages market and how the company is aligned with the sector.
The agenda is heavy on promoter-related preferential issuances and loan-to-equity conversion, which signals promoter commitment but will dilute existing non-promoter shareholders. Shareholders should watch the e-voting results and any post-AGM disclosures to gauge approval levels, especially for the Section 186 borrowing limit and the related-party items involving the COO.