Gala Global Products Limited has scheduled an Extraordinary General Meeting for May 7, 2026, at 11:30 AM through Video Conferencing to seek shareholder approval for initiating insolvency proceedings under the Insolvency and Bankruptcy Code, 2016. This follows the board's earlier decision on April 14, 2026, to pursue formal resolution processes due to deteriorating financial conditions.

EGM Schedule and Voting Arrangements

The company has announced comprehensive arrangements for the upcoming EGM, including remote e-voting facilities and virtual meeting participation. Director Vishal Mulchandbhai Gala communicated the EGM notice to BSE Limited on April 15, 2026, under Regulation 30 compliance requirements.

Board Meeting Outcomes and Financial Position

The board meeting held on April 14, 2026, from 6:00 PM to 7:00 PM, addressed the company's critical financial situation. The board identified that total liabilities significantly exceed the realizable value of assets, creating an insolvency scenario that requires immediate protective measures for stakeholder interests.

Special Resolution for Insolvency Process

The EGM will consider a Special Resolution to authorize the board to initiate either Corporate Insolvency Resolution Process (CIRP) under Section 10 or Pre-packaged Insolvency Resolution Process (PPIRP) under Section 54C of the IBC. The resolution requires 75% majority approval from shareholders for implementation.

E-voting and Meeting Participation

Shareholders can participate in remote e-voting from May 4, 2026 (9:00 AM) to May 6, 2026 (5:00 PM) through NSDL's e-voting platform. The company has made arrangements for up to 1,000 members to join the virtual meeting on a first-come, first-served basis, with priority access for large shareholders, promoters, and institutional investors.

The explanatory statement reveals that the company has been under severe financial distress, with creditor actions potentially leading to asset liquidation detrimental to shareholder interests. The board considers the formal IBC process essential to safeguard the company's going concern status and enable structured resolution under professional supervision.

GALA Global Products Limited has submitted its mandatory compliance certificate under regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter and year ended March 31, 2026. The submission was made to BSE Limited on April 10, 2026, by Managing Director Prahlad Kumar Agarwal.

Regulatory Compliance Certificate

The certificate was issued by KFin Technologies Limited, which serves as the company's Registrar and Share Transfer Agent. The certification confirms that GALA Global Products has met all requirements under the SEBI regulations for the specified period.

Key Certifications

KFin Technologies Limited, in its capacity as the Registrar and Share Transfer Agent, provided comprehensive certifications regarding the company's compliance:

• Details of securities dematerialized during the quarter were furnished to all stock exchanges where the company's shares are listed
• Security certificates received for dematerialization were mutilated and cancelled after due verification
• Names of depositories were substituted in the registered owner records within 15 days of receipt of documents

Company Information

Operational Network

GALA Global Products Limited operates through multiple branch offices across India, including locations in Gujarat, Andhra Pradesh, Telangana, Uttar Pradesh, and West Bengal. The company's registered office is located in Ahmedabad, Gujarat.

The certificate submission demonstrates the company's commitment to maintaining regulatory compliance and transparency in its securities operations, ensuring proper handling of dematerialization processes as mandated by SEBI regulations.