Gretex Industries Limited shareholders approved the company’s audited financial statements for the fiscal year ended March 31, 2026, during its 17th Annual General Meeting held on July 27, 2026. The meeting, conducted in Kolkata, also authorized key governance changes, including the reappointment of Executive Director Vishal Arora and a modification to the utilization of funds raised via a previous preferential issue.

The AGM commenced at 4:00 p.m. IST at the company’s registered office in Kolkata and concluded at 4:45 p.m. The proceedings were held in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the Companies Act, 2013. All five directors were present, with no leaves of absence granted. The quorum was maintained throughout the meeting.

Key Resolutions Approved

Shareholders voted on six ordinary resolutions. The Board’s report and the audited standalone and consolidated financial statements for FY26 were adopted without objection. Notably, the shareholders approved a change in the utilization of funds raised through a preferential issue, a move that alters the original deployment strategy for those capital proceeds.

Governance and Compliance

The appointment of Vishal Arora as a director retiring by rotation was processed under related-party transaction protocols. Managing Director Arvind Harlalka and Non-Executive Director Alok Harlalka, being related parties to the transaction, recused themselves from the discussion and voting. Executive Director Vishal Arora presided over this specific resolution as the disinterested member.

The company appointed D.A. Kamat & Co as Secretarial Auditors for a term of five years, commencing from the financial year 2026-27. Additionally, Priyanka Kirtikumar Marvania was appointed as an Independent Director for a five-year term, reinforcing the independent oversight on the Board.

Voting Process

Remote e-voting was facilitated for all resolutions, running from 10:00 a.m. IST on July 24, 2026, to 5:00 p.m. IST on July 26, 2026. Chetna Gupta, a Practicing Company Secretary, served as the Scrutinizer for the e-voting process. The consolidated voting results are scheduled to be declared within two working days of the AGM conclusion and will be published on the company’s website and stock exchange portals, in accordance with Section 108 of the Companies Act, 2013 and Regulation 44(3) of the SEBI Listing Regulations.

The Reserve Bank of India (RBI) has granted prior approval for the change in management regarding Gretex Industries Limited 's proposed acquisition of Arpan Tie Up Pvt. Ltd. The approval, communicated via a letter dated June 25, 2026, marks a step forward in the company's plans to acquire the non-banking financial company (NBFC). While the management change has been sanctioned, the approval for the change in control remains pending and is awaited from the central bank.

Regulatory Approvals

The company informed the National Stock Exchange of India that the RBI's letter specifically addressed the change in management aspect of the transaction. This follows previous communications from Gretex Industries dated May 27, 2026, July 26, 2025, and August 19, 2025, regarding the proposed acquisition. The regulatory process requires separate clearances for management and control changes, with the latter still under review.

Transaction Status

The acquisition of Arpan Tie Up Pvt. Ltd. is contingent upon receiving all necessary regulatory clearances. The following table summarizes the current status of the approvals sought from the RBI: