Borana Weaves Limited held its 6th Annual General Meeting on September 29, 2026, through Video Conferencing/Other Audio-Visual Means (VC/OAVM). The meeting commenced at 11:30 am and concluded at 12:07 pm IST.

The Board of Directors and Members reviewed the audited standalone financial statements for the financial year ended March 31, 2026. Ordinary business included the re-appointment of Mr. Ankur Mangilal Borana as a director retiring by rotation and the re-appointment of the statutory auditor for a second five-year term.

Special business transacted

The meeting addressed special business items primarily focused on governance appointments and executive compensation. Members approved the appointment of M/s. K. Dalal & Co., Peer Reviewed Company Secretaries in Practice, as Secretarial Auditors. Additionally, the remuneration payable to M/s. Vaghela Kishor & Co., Cost Accountants, for the financial year 2026-27 was ratified.

A significant portion of the agenda involved the revision of remuneration for key managerial personnel. The following resolutions were placed before the members for approval:

Voting and conclusion

Remote e-voting was facilitated through NSDL from September 26, 2026, to September 28, 2026. Members attending the virtual meeting could also vote electronically if they had not participated remotely. M/s. K. Dalal & Co., Practising Company Secretaries, served as the Scrutinizer for the e-voting process. The voting results are scheduled to be declared within two working days of the meeting's conclusion.

Borana Weaves Limited has approved an unsecured loan facility of up to ₹5 crore for Win Star Industries Private Limited. The board sanctioned the agreement during its meeting on September 5, 2026.

The transaction is structured as a non-related party deal with no equity stake held by the lender in the borrower. The agreement was executed on September 5, 2026, with an annual interest rate of 12%. The loan remains outstanding until repayment on demand or earlier termination by mutual consent.

Deal Structure

The financing arrangement involves no collateral or security from Win Star Industries. Borana Weaves confirmed it holds no shareholding in the entity receiving the funds. The company stated the purpose of the loan is to provide financial assistance towards the borrower's business activities.

What the Numbers Show

The decision to extend an unsecured loan at a fixed 12% interest rate indicates a reliance on the borrower's creditworthiness rather than asset backing. With no collateral provided, the risk profile of this ₹5 crore exposure is higher than secured lending, though the repayable-on-demand clause offers liquidity flexibility to the lender.