Ashapura Intimates Fashion Limited fixed October 16, 2026 as the record date for its capital reduction process. This corporate action is being executed pursuant to an order passed by the National Company Law Tribunal (NCLT), Mumbai Bench on June 3, 2025.

The decision was approved by the company’s Board of Directors during a meeting held on October 12, 2026. The board session commenced at 4:15 pm and concluded at 4:45 pm. Nikunj Shah, Managing Director, signed the digital communication confirming the board's approval.

Board approval details

The Board Meeting transacted a single agenda item related to the restructuring of the company’s share capital. The key details disclosed in the regulatory filing are outlined below:

Regulatory compliance

The company submitted this outcome to both BSE Limited and the National Stock Exchange of India Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation specifically references Regulation 42 regarding the record date for the capital reduction as per the NCLT order.

Ashapura Intimates Fashion Limited shareholders passed all nine resolutions at its Annual General Meeting held on September 30, 2026, with 99.87% of votes cast in favor. The meeting, chaired by Managing Director Nikunj Shah, concluded with the adoption of FY26 financial statements and the appointment of M/s. N K Sarraf & Associates as statutory auditor.

The scrutinizer report, filed with BSE and NSE on October 2, 2026, confirmed that remote e-voting and venue voting results were consistent across all agenda items. A total of 57 members participated in the voting process, casting 9,901 votes in favor and only 13 votes against across all resolutions.

Director appointments and audit committee changes

Members approved the reappointment of Nikunj Sureshchandra Shah as a director retiring by rotation. The company also regularized the positions of Het Mebulbhai Thakkar as a Non-Executive Director, and Arzoo Raghubhai Rabari and Pooja Manthan Patel as Non-Executive Independent Directors.

M/s. Dharti Patel & Associates was appointed as the Secretarial Auditor for the company. The scrutinizer for the meeting was Dharti Patel, proprietor of M/s. Dharti Patel & Associates.

Voting results summary

The following table summarizes the voting outcomes for the key resolutions taken up during the meeting:

Governance and structural updates

The shareholders approved a special resolution to adopt a new Memorandum of Association, replacing earlier objects with new ones. Additionally, a special resolution was passed to shift the company's registered office from the State of Maharashtra to the State of Gujarat.

E-voting facilities were provided to members from September 27, 2026, to September 29, 2026. The voting rights were reckoned as on September 23, 2026, which served as the cut-off date for entitlements. Results were declared and submitted to BSE Limited and National Stock Exchange of India Limited within two working days of the meeting's conclusion.