Ballarpur Industries Limited (BSE: BALLARPUR) held its 81st Annual General Meeting on September 25, 2026, where shareholders approved the sale of non-core assets and adopted financial statements for FY26.

The meeting was conducted through Video Conferencing / Other Audio-Visual Means (VC/OAVM) in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Chairman Hardik Bharat Patel chaired the proceedings, which commenced at 11:30 am and concluded at 11:56 am. All six directors attended the virtual session.

Key resolutions passed

Shareholders voted on six items, including two special resolutions related to asset disposal and related party transactions. The specific resolutions included:

• Adoption of audited financial statements for the year ended March 31, 2026.
• Re-appointment of Parashiva Murthy B S as Non-Executive Director.
• Approval for the sale or disposal of non-core assets.
• Ratification of material related party transactions with Hardik Bharat Patel and Finquest Financial Solutions Private Limited.
• Ratification of remuneration to Cost Auditors.

Voting participation details

The company utilized remote e-voting facilities provided by National Securities Depositories Limited (NSDL). The voting period ran from September 22, 2026, to September 24, 2026. No members attended in person or through proxies; all participation occurred via video conference.

Procedural compliance

M/s. Viral Sanghavi & Associates, Company Secretaries, served as the scrutinizer for the votes cast. The statutory auditor, secretarial auditor, and scrutinizers were present during the meeting. The Chairman noted that all efforts were made to enable member participation under applicable laws. The results of the e-voting and the consolidated Scrutinizer's Report were announced for placement on stock exchange websites.

Ballarpur Industries Limited allotted ₹57.5 crore worth of listed, rated, unsecured, and redeemable non-convertible debentures (NCDs) on a private placement basis. The issuance was executed through an online bidding process on the BSE EBP Platform.

The allotment represents a portion of the ₹100 crore NCD issue approved by the Board of Directors in July 2026. The company disclosed the allotment details to the stock exchanges on September 21, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Issue Structure

The NCDs are structured as zero-coupon instruments with a tenure of three years. Each debenture has a face value of ₹1 lakh, with a total of 5,750 units allotted. The securities are proposed to be listed on the Bombay Stock Exchange (BSE).

Investors and Purpose

The private placement was subscribed by Infotel Technologies Private Limited and Belgrave Investment Fund. The proceeds from the issue will be utilized for the company's working capital requirements.

Default Provisions

In the event of a default or delay in payment of principal redemption beyond three months from the due date, the issuer is liable to pay additional interest at 2% per annum over the coupon rate for the defaulting period. The instruments carry no charge or security over the company's assets.