Eurotex Industries and Exports Limited has initiated a postal ballot process seeking shareholder approval to sell, lease, or otherwise dispose of the whole or substantially the whole of its undertaking(s). The proposed transaction value is capped at ₹39 crore, inclusive of an earlier approval of ₹25 crore.

The company dispatched the postal ballot notice via email on October 1, 2026, in compliance with Section 110 of the Companies Act, 2013. The resolution specifically targets undertakings where the company's investment exceeds 20% of its net worth or which generate 20% of its total income, as per the audited balance sheet of the preceding financial year.

Voting timeline and procedures

Shareholders are eligible to vote based on their holdings as of the cut-off date, September 29, 2026. The remote e-voting period commenced on October 5, 2026, at 9:00 am and will conclude on November 3, 2026, at 5:00 pm. Central Depository Services (India) Limited (CDSL) is facilitating the e-voting process, while Aabid & Co., Company Secretaries, has been appointed as the scrutinizer.

The results of the voting will be declared within 48 hours of the conclusion of the e-voting period, i.e., by November 5, 2026. If approved by the requisite majority, the resolution will be deemed passed on the last date of e-voting.

Transaction scope

The special resolution empowers the Board of Directors to finalize and execute necessary documents, including definitive agreements and deeds of assignment. The Board may also delegate these powers to committees or individual directors to facilitate the disposal in one or several tranches.

What the numbers show

The total authorization of ₹39 crore includes ₹25 crore previously approved by shareholders, indicating that this new resolution seeks an incremental headroom of ₹14 crore for the disposal of assets. This suggests a potential expansion of the scope of asset monetization beyond the initial limit.

Eurotex Industries and Exports Limited concluded its 40th Annual General Meeting on September 18, 2026. The meeting was held via video conferencing in compliance with Ministry of Corporate Affairs and SEBI circulars.

Eurotex Industries & Exports secured shareholder approval for all five agenda items, including special resolutions regarding capital structure adjustments and board composition.

Key Resolutions Passed

The shareholders approved the following ordinary and special business items:

• Adoption of the audited financial statements for the year ended March 31, 2026.
• Re-appointment of Rajiv Siotia as director, replacing his tenure by rotation.
• Variation and alteration of redemption terms for 50,00,000 6% Non-Cumulative Non-Convertible Redeemable Preference Shares of ₹10 each, aggregating to ₹5,00,00,000.
• Maintenance of member registers at a location other than the registered office.
• Regularization of the appointment of Sanjay Shrinarayan Baldua as a Non-Executive Non-Independent director.

Governance and Audit

Rajiv Patodia, Executive Director and CFO, chaired the meeting. He confirmed that the statutory auditors, Lodha & Co., issued an unqualified report on the financial statements for FY26. Similarly, the secretarial audit report contained no qualifications or adverse remarks.

The Company Secretary noted that remote e-voting was conducted through Central Depository Services (India) Limited from September 15 to September 17, 2026. Physical attendance was dispensed with, and proxy appointments were not available for this virtual meeting.