Boston Commerce Limited shareholders approved a special resolution for the reduction of share capital and granted management enhanced borrowing powers during an Extra-Ordinary General Meeting (EGM) held on August 5, 2026. The meeting, conducted via Video Conferencing/Other Audio Visual Means (VC/OAVM), also resulted in the appointment of new co-statutory auditors and the regularization of independent director appointments, marking significant structural changes for the Ahmedabad-based company.

The EGM commenced at 12:00 P.M. (IST) and concluded at 12:10 P.M. (IST). Although Ghanshyam Dhananjay Gavali, Chairman & Managing Director, was designated to chair the proceedings, he was absent due to ill health. Consequently, Deshna Jain, Company Secretary & Compliance Officer, conducted the meeting on his behalf. The Board confirmed that the requisite quorum under Section 103 of the Companies Act, 2013 was present. Three shareholders had registered as Speaker Shareholders, but none attended, resulting in no queries or comments being raised during the session.

The primary agenda items focused on capital structure optimization and governance regularization. Shareholders voted on seven resolutions, including ordinary and special resolutions. Key outcomes included the approval of the Scheme of Reduction of Share Capital and the adoption of a new Memorandum of Association and Articles of Association. These moves suggest a strategic restructuring effort by the company to streamline its capital base and operational framework.

Governance adjustments were also central to the meeting. The shareholders regularized the appointments of Ms. Jansi Falgunkumar Patel and Ms. Gunjan Jyotishbhai Leuva as Non-Executive Independent Directors. Both directors were present via VC during the meeting. Additionally, the company appointed M/s. S Parth & Company, Chartered Accountants, as Co-Statutory Auditors, strengthening its financial oversight mechanisms.

Strategic Implications

The approval of borrowing powers under Section 180(1)(c) of the Companies Act, 2013 provides the Board with greater flexibility to secure debt financing without requiring further shareholder approval for each instance, subject to prescribed limits. This, combined with the authorization to acquire businesses, business undertakings, or strategic assets, indicates a potential shift towards expansion or consolidation activities. The simultaneous reduction in share capital may aim to improve return ratios or clean up the balance sheet following past losses or write-offs, although specific financial figures regarding the reduction amount were not disclosed in the proceedings summary.

Compliance with regulatory standards remained a focus, with the company adhering to Regulation 30 and Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Remote e-voting was facilitated through National Securities Depository Limited (NSDL) from August 2, 2026, to August 4, 2026. Voting results and the Scrutinizer’s Report, prepared by CS Jay Pandya, are scheduled to be declared within the prescribed timeline and submitted to BSE Limited.

The Boston Commerce Board of Directors approved the relocation of the company’s registered office within the local limits of Ahmedabad during a meeting held on August 1, 2026. The decision, effective immediately from August 1, 2026, moves the corporate headquarters from A.828, Sun West Bank, Ashram Road, to Office No. 11, Krishna Complex, Mahatma Gandhi Bridge, Shreyas Colony, Navrangpura. This administrative change ensures that official records reflect the company’s current operational base and requires subsequent filings with the Registrar of Companies and other statutory authorities.

The meeting commenced at 12:30 P.M. and concluded at 12:45 P.M. at the existing registered office. Ghanshyam Dhananjay Gavali, Managing Director, signed the disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice was submitted to BSE Limited, where the company is listed under Scrip Code 531458 and ISIN INE109B01019.

Key Details of the Relocation

The new premises are identified by T.P. No. 3 FP No. 291 Paiki, admeasuring 90.4876 sq. mtrs. The shift remains subject to necessary regulatory approvals and filings with the Registrar of Companies.

What This Means for Stakeholders

This administrative update ensures the company’s official records reflect its current operational base within Ahmedabad. Shareholders and creditors are advised to update their records with the new address for future correspondence. The relocation does not impact the company’s listing status or ongoing business operations.