Gala Global Products Limited has successfully completed the formal alteration of its Memorandum of Association (MOA) following overwhelming shareholder approval at the Extra-Ordinary General Meeting held on April 4, 2026. The company has increased its authorized share capital from ₹30.30 crore to ₹53.00 crore, representing a substantial expansion in its capital structure.

Capital Structure Transformation

The company has implemented significant changes to its capital clause under Regulation 30 of SEBI Listing Regulations. The formal amendment demonstrates the company's commitment to strengthening its financial foundation for future growth opportunities.

EGM Voting Results and Participation

The EGM conducted through video conferencing received strong shareholder participation with 32 members attending, comprising 1 promoter group member and 31 public shareholders. The resolution received overwhelming support with 99.92% approval rate.

E-Voting Process and Timeline

The comprehensive electronic voting system through NSDL platform ensured maximum transparency and participation. The voting process was conducted through both remote e-voting and live e-voting during the meeting.

Regulatory Compliance and Documentation

Gala Global Products Limited submitted the formal intimation to BSE Limited on April 6, 2026, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was digitally signed by Managing Director Prahlad Kumar Agarwal, demonstrating proper corporate governance practices.

The successful completion of the MOA amendment process positions the company for potential future business expansion, strategic initiatives, or capital requirements. The substantial increase in authorized share capital provides the company with enhanced financial flexibility to pursue growth opportunities and strengthen its market position.

GALA Global Products Limited has received a formal demand notice under the SARFAESI Act from HDFC Bank Limited, marking a significant development in the company's debt resolution process. The notice, issued under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, demands immediate attention to outstanding credit facilities.

Outstanding Debt Details

The demand notice specifies total outstanding dues of Rs. 6,99,13,608.13 as on March 15, 2026. The debt comprises two main components:

The original sanctioned limits included a Cash Credit facility of Rs. 6,22,10,000.00 and a BBG-WC Term Loan facility of Rs. 83,50,000.00, with total sanctioned limits of Rs. 7,05,60,000.00.

Timeline and NPA Classification

The company's account was declared as Non Performing Asset on December 23, 2025, with outstanding dues of Rs. 6,69,92,798.08 at that time. The demand notice was dated March 16, 2026, and the company received communication about it on March 20, 2026, at the residential address of one of the directors.

Secured Assets at Risk

HDFC Bank holds security interest in multiple industrial properties located in Ahmedabad:

All properties are located in Shree Laxmi Cooperative Industrial Estate Ltd., Rakhial, Ahmedabad, and are registered as mortgaged securities with the bank.

Company's Proactive Efforts

Prior to receiving the SARFAESI notice, GALA Global Products had approached HDFC Bank on February 26, 2026, with a comprehensive repayment plan. The company had requested a 30-day extension until March 31, 2026, to finalize arrangements with a prospective buyer for the collateral properties. The company expressed commitment to full closure of the entire Rs. 6.22 crore limit along with applicable interest.

Statutory Compliance and Next Steps

Under the SARFAESI Act provisions, the company has 60 days from the notice date to discharge the full liability of Rs. 6,99,13,608.13 plus accruing interest at 18% per annum from March 16, 2026. Failure to comply within this timeframe may result in the bank taking possession of secured assets and proceeding with their sale through lease, assignment, or auction.

The company has stated its intention to discharge the entire liability within the statutory 60-day period and confirmed that there is currently no impact on day-to-day operations. The management remains committed to ensuring a smooth settlement of dues with the bank.