OUTCOME OF THE BOARD MEETING
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The Board of Directors of Spice Lounge Food Works Ltd (formerly Shalimar Agencies Limited) met on 9th September 2025 and approved the creation or incorporation of one or more subsidiary companies, either in India or abroad. The Board authorized Mr. Mohan Babu Karjela, Chairman/Director of the Company, to take all necessary actions and execute required documents for this purpose. The meeting ran from 4:00 PM to 8:50 PM. The disclosure was filed with BSE, Metropolitan Stock Exchange, and Calcutta Stock Exchange under SEBI Listing Regulations.
This signals the company's intent to expand its business footprint through subsidiary formation, which could be growth-oriented but adds complexity. Shareholders should watch for further announcements regarding the specific nature, location, and capital structure of the proposed subsidiary(ies).