The Extraordinary General Meeting (EGM) of the company is scheduled to be held on Tuesday, June 17, 2025 through video conferencing / other audio visual means.
Awaiting price reaction for this filing.
Bombay Potteries & Tiles Ltd has called an EGM on Tuesday, June 17, 2025 at 2:00 PM via video conferencing. Four special business items will be taken up: (1) Re-appointment of Mr. Manoj Wadhwa as Managing Director for a further 5 years (till March 30, 2030) without any remuneration, salary, commission or perquisites; (2) Re-appointment of Mr. Deepak Herkishen Mirchandani as Independent Director for a second 5-year term (till March 22, 2030); (3) Re-appointment of Mr. Rakesh Shivkumar Wadhera as Independent Director for a second 5-year term (till March 22, 2030); and (4) Approval to raise the company's borrowing limit under Section 180(1)(c) of the Companies Act, 2013 to a maximum of Rs. 10 Crores. Remote e-voting will be open from June 13, 2025 (9:00 AM) to June 16, 2025 (5:00 PM), with the record date set as June 10, 2025.
Notably, the Managing Director is continuing without any remuneration, which signals promoter commitment but also warrants scrutiny given the company's size and growth needs. The proposed borrowing limit hike to Rs. 10 Crores indicates the company may seek additional debt for business expansion or working capital, which shareholders should monitor. The Independent Director re-appointments are largely routine corporate governance items.