AGM notice: 100x authorized capital hike and related party deal approval
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Sparkle Gold Rock Limited (formerly Sree Jayalakshmi Autospin Limited) has called its 35th AGM on September 30, 2026 via video conferencing. Items include adopting FY26 audited financials, appointing M/s Dhadda and Associates as statutory auditors for 1 year, re-appointing Mrs Sarita Devi Sharma as Managing Director, approving material related party transactions with Sparkle Gold Mines Private Limited, and appointing Ms Durga Pallavi Tekumalla as Independent Director for 5 years. A massive hike in authorized share capital from Rs 20 crore to Rs 2,020 crore (100x) is also proposed. Borrowing limit of Rs 100 crore each for fund and non-fund based facilities sought.
Huge 100x authorized capital increase signals possible future equity dilution. Material related party deal with Sparkle Gold Mines needs shareholder scrutiny.