HCP Plastene Bulkpack Limited appointed Prakash Hiralal Parekh as Chief Financial Officer and M/s. Nirav Patel & Associates as Internal Auditor, effective October 12, 2026.

The appointments were approved during the Board of Directors meeting held on October 12, 2026. The meeting commenced at 3:15 pm and concluded at 3:30 pm. The company filed this disclosure with BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key managerial changes

The Board approved the appointment of Mr. Parekh as the CFO with immediate effect. He is the Managing Director and Promoter of the company. His profile indicates he holds a bachelor's degree in chemical engineering and completed his SAP from Mohanlal University, Australia, in 1998. He has over 23 years of experience in the plastic industry.

Simultaneously, the Board approved M/s. Nirav Patel & Associates, Chartered Accountants, as the Internal Auditor for the financial year 2026-27. The firm is based in Ahmedabad and was formed in 2009. It provides services including statutory audit, internal audit, tax audit, management consultancy, bookkeeping, international taxation, project finance, capital fund raising, business valuation, mergers and acquisitions, corporate compliances, SEBI regulation compliances, stock exchange compliances, and labour law compliances.

Compliance and governance

The disclosures were made in compliance with Regulation 30 read with Para A of Part A of Schedule III of the Listing Regulations and SEBI circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, as amended. Rishabh Kumar Jain, Company Secretary and Compliance Officer, signed the intimation to BSE.

HCP Plastene Bulkpack Limited shareholders approved a proposal to increase the company's borrowing power up to a maximum of ₹500 crore during the 42nd Annual General Meeting (AGM) held on September 25, 2026.

The meeting was conducted via video conferencing in compliance with Ministry of Corporate Affairs and Securities and Exchange Board of India regulations. Prakash Hiralal Parekh, Managing Director, served as the Chairman of the meeting after the regular Chairman was unavailable. The proceedings concluded at 11:50 am with all resolutions passed by requisite majority.

Key resolutions passed

The shareholders voted on several ordinary and special business items, focusing on governance continuity and financial flexibility. The notable approvals included:

• Reappointment of Prakash Hiralal Parekh as Managing Director for three years effective November 1, 2026.
• Approval of material related party transactions for the company and its subsidiary, K. P. Woven Private Limited.
• Increase in borrowing power under Section 180(1)(c) of the Companies Act, 2013, capped at ₹500 crore.
• Authority to provide loans, guarantees, or security up to an aggregate sum of ₹500 crore under Section 186 of the Companies Act, 2013.
• Adoption of a new set of Articles of Association aligned with the Companies Act, 2013.

Governance and directorial changes

The AGM addressed directorial rotations and remuneration adjustments. Sandeep Motilal Shah was reappointed as a Non-Executive Independent Director. Additionally, the board sought approval for paying remuneration to Meenu Maheshwari, a Non-Executive Independent Director, exceeding the limits prescribed under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Prakash Parekh retired by rotation and was reappointed as a director following his eligibility offer. The meeting also saw the adoption of audited standalone and consolidated financial statements for the year ended March 31, 2026.

Attendance and voting details

A total of 37 members attended the virtual meeting. Remote e-voting facilities were provided through the NSDL platform, allowing members to cast votes electronically before and during the session. The scrutinizer for the e-voting process was Ketan Vyas, a practising company secretary.

The company reported that one shareholder registered to speak and raised queries regarding operations, which were addressed by the Chairman. The statutory auditor's representative from Ashok Dhariwal & Co. also attended the meeting.

Voting pattern and promoter influence

Detailed voting results filed with BSE reveal that promoters and the promoter group held 80,06,120 shares, representing approximately 75% of the total outstanding shares of 1,06,74,837. In most key resolutions, including the increase in borrowing power and approval of related party transactions, the promoter group voted 100% in favour. Public institutions did not vote on any resolution, while public non-institutional shareholders voted on a small fraction of their holdings (approximately 3% of their total shares). For instance, in the resolution to increase borrowing power, only 59,727 shares from the public non-institutional category were voted, with 59,726 in favour and 1 against.