Eureka Industries Limited has submitted the voting results and Scrutinizer's Report for its Extra-Ordinary General Meeting (EGM) held on May 18, 2026. The meeting, conducted via Video Conferencing, saw the approval of all four resolutions placed before the members. The results were submitted to the Bombay Stock Exchange on May 19, 2026, pursuant to Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

EGM Resolutions Overview

The shareholders approved key resolutions concerning the company's financial restructuring and managerial appointments. The resolutions were passed through remote e-voting and during the meeting. Mr. Alpesh Paliwal of M/s Paliwal & Co. served as the Scrutinizer for the process.

Voting Results

The voting process concluded with all resolutions receiving the requisite majority. A total of 26 members participated via e-voting, casting 14,285 votes in favor of the resolutions. There were no votes cast against any of the resolutions, and no invalid votes were recorded.

Key Approvals

The approval of the Pre-Packaged Insolvency Resolution Process (PPIRP) is subject to admission by the National Company Law Tribunal (NCLT), Ahmedabad Bench. The Base Resolution Plan includes the amalgamation of Onix Renewable Limited with Eureka Industries Limited and a proposed change of name to "ONIX RENEWABLE LIMITED". Additionally, the meeting ratified the appointments of Mr. Chaitanya Jayantilal Pandya as Managing Director and Ms. Avani Ashwinkumar Shah as Non-Executive Independent Director.

Eureka Industries Limited has announced an Extraordinary General Meeting scheduled for May 18, 2026, at 12:30 PM through Video Conferencing and Other Audio Visual Means. The primary agenda item seeks shareholder approval for initiating a Pre-packaged Insolvency Resolution Process under Section 54A of the Insolvency and Bankruptcy Code, 2016. The company, which qualifies as a Micro, Small and Medium Enterprise under the MSME Development Act, 2006, has prepared a Base Resolution Plan for submission to the Committee of Creditors and the National Company Law Tribunal, Ahmedabad Bench.

The Board of Directors, at its meeting held on April 13, 2026, approved the proposal to initiate the insolvency resolution process as the company experiences financial stress and liquidity constraints. The plan provides for restructuring of liabilities, settlement of claims of unsecured financial creditors, operational creditors, employees, and statutory authorities, along with reorganization of share capital. The resolution authorizes the appointment of Mr. Bimal Ashok Desai as the Resolution Professional and empowers the Board to finalize and file necessary applications before the NCLT.

Key Business Items for Shareholder Approval

The EGM will consider four special business items requiring shareholder approval. The meeting will be conducted entirely through virtual mode, with remote e-voting available from May 15, 2026, at 9:00 AM to May 17, 2026, until 5:00 PM. The record date for determining shareholder eligibility is May 11, 2026. Members who have voted through remote e-voting will not be eligible to vote during the EGM.

Director Appointments and Remuneration

Mr. Chaitanya Jayantilal Pandya (DIN: 10109798), who was appointed as an Additional Executive Director on March 21, 2026, is proposed to be regularized and appointed as Managing Director for a five-year period effective April 13, 2026. The proposed remuneration shall not exceed Rs. 50,000 per month, including basic pay, HRA, perquisites, special allowances, and employer PF contributions. The remuneration is subject to not exceeding five percent of net profits for individual Managing Directors or ten percent for all Managing Directors and Whole-time Directors collectively, as per Companies Act provisions.

Ms. Avani Ashwinkumar Shah (DIN: 09608898), appointed as an Additional Independent Director on March 21, 2026, will be regularized as a Non-Executive Independent Director for a five-year term. She holds a masters degree in commerce and brings a decade of experience in corporates and management. The Board has received her declaration of independence, confirming she meets the criteria under Section 149(6) of the Companies Act, 2013, and Regulation 16(1)(b) of SEBI Listing Regulations.

Financial Performance and Company Information

The company's financial performance for the standalone results shows a net worth of (149.50) lakh for 2024-25 compared to (363.77) lakh in 2023-24. The profit after tax for 2024-25 stood at 214.27 lakh against a loss of (455.60) lakh in the previous year. Eureka Industries Limited was incorporated on November 3, 1992, and operates in the trading sector. The registered office is located at A-505, Titanium City Centre, Satellite, Ahmedabad, Gujarat.

The Board has recommended all resolutions for shareholder approval. The company has appointed Mr. Alpesh Paliwal as the Scrutinizer for the e-voting process, and M/s. Accurate Securities & Registry Private Limited serves as the Registrar and Share Transfer Agent. The notice and explanatory statement are available on the company's website at www.eurekaindltd.com .