Alstone Textiles clarifies typographical error in 41st AGM proceedings
- Alstone Textiles filed a clarification with BSE regarding a typographical error in its 41st AGM proceedings.
- The company stated the error was inadvertent and did not impact the meeting's outcomes or resolutions.
- Clarified documents specify 38 shareholders attended via video conferencing, correcting previous figures.
- Resolutions included the issuance of unlisted 2% non-convertible preference shares and director re-appointments.
*this image is generated using AI for illustrative purposes only.
Alstone Textiles (India) Limited issued a clarification to the Bombay Stock Exchange regarding a typographical error in the proceedings of its 41st Annual General Meeting. The company confirmed that the error, identified in filings dated September 24, 2026, was purely inadvertent and did not affect the validity of the meeting or its resolutions.
The 41st AGM was held on September 24, 2026, through Video Conferencing and Other Audio-Visual Means. The session commenced at 4:00 pm and concluded at 4:26 pm. Managing Director Deepak Kumar Bhojak signed the clarification letter on September 25, 2026, assuring stakeholders of continued accuracy in statutory filings.
Meeting Proceedings and Attendance
Ms. Yamini Saini, Company Secretary, chaired the proceedings in the absence of Chairman Deepak Kumar Bhojak during the initial phase, though Bhojak is listed as presiding over the meeting in the corrected records. The meeting confirmed the presence of requisite quorum. The original filing cited 553,406 shareholders participating, but the clarified proceedings document specifies that 38 shareholders attended through video conference or other audio-visual modes.
The notice convening the meeting and reports from statutory auditors on standalone financial results were taken as read. ACS Parul Agrawal served as the scrutinizer to ensure fair voting processes. No questions were received from members during the pre-meeting window from September 21 to September 23, 2026.
Resolutions Passed
Members considered and adopted several ordinary and special business items. The resolutions covered financial adoption, director re-appointment, auditor appointment, and capital restructuring. The final results of e-voting were scheduled to be announced within two working days.
| Business Item | Nature of Resolution |
|---|---|
| Adoption of financial statements and reports | Ordinary |
| Re-appointment of Ramesh Kumar as Director | Ordinary |
| Appointment of Secretarial Auditor for FY27 to FY30 | Ordinary |
| Re-classification of authorised share capital | Special |
| Issuance of unlisted 2% non-convertible preference shares | Special |
Key Corporate Actions
The meeting approved the re-appointment of Ramesh Kumar (DIN: 00537325), who retired by rotation and offered himself for re-election. Additionally, a Secretarial Auditor was appointed for a four-year term covering financial years 2026-27 to 2029-30.
Two special resolutions were moved regarding the company's capital structure:
- Re-classification of authorised share capital.
- Issuance of unlisted 2% non-convertible preference shares (NCPS) on a preferential basis.
What specific strategic objectives or funding needs will the proceeds from the newly issued 2% non-convertible preference shares address?
How might the re-classification of authorised share capital facilitate future equity dilution or capital raising efforts for Alstone Textiles?
Will the significant discrepancy in reported shareholder attendance trigger a regulatory review or stricter compliance audits by the BSE or SEBI?
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