Himalaya Food International Limited has scheduled its Extraordinary General Meeting (EGM) for May 2, 2026, following the board's approval of multiple strategic corporate decisions on April 7, 2026. The company has formally notified BSE Limited about the EGM scheduling under Regulation 30 of SEBI (LODR) Regulations, 2015.

EGM Details and Shareholder Participation

The EGM will be conducted on Saturday, May 2, 2026, at 03:00 PM (IST) through Video Conferencing (VC) and Other Audio-Visual Means (OAVM). The cut-off date for determining eligible shareholders is April 25, 2026, with members whose names appear in the Register of Members or Beneficial Owners list maintained by depositories entitled to vote and attend the meeting.

Authorized Share Capital Enhancement

Shareholders will vote on increasing the company's authorized share capital from ₹90,00,00,000 to ₹150,00,00,000, representing an enhancement of ₹60,00,00,000. This increase aims to facilitate proposed fund raising initiatives including rights issue, preferential allotment, private placement, and conversion of loans into equity.

Fund Raising and Loan Conversion Provisions

The EGM agenda includes approval for enabling provisions to raise funds through multiple mechanisms, including conversion of outstanding loans as on March 31, 2026, and any further loans into equity shares up to ₹25 Crores, at the option of promoters and lenders. The provisions also cover issuance of equity shares through rights issue, preferential issue, or other regulatory-compliant methods.

Banking Settlement and Auditor Appointment

The board has already approved and noted the final sanctions from all four consortium banks for concluding a One Time Settlement (OTS) worth ₹43 Crores, with ₹21.50 Crores already released to consortium banks on March 30, 2026. Additionally, shareholders will vote on appointing M/s Kumar Rupak & Associates as the company's statutory auditor.

The company has engaged Central Depository Services (India) Limited (CDSL) to provide e-voting facility, with remote e-voting commencing on April 29, 2026 (9:00 AM) and ending on May 1, 2026 (5:00 PM). Mr. Himanshu Bhatia of Himanshu & Co., Company Secretaries has been appointed as scrutinizer for the voting process.

Himalaya Food International Limited has disclosed its decision to initiate arbitration proceedings against Simplot, seeking substantial damages for non-compliance with a previous arbitration award. The company made this announcement through an investor disclosure dated April 7, 2026, pursuant to Regulation 30 of SEBI listing requirements.

Background of the Dispute

The current legal action stems from Simplot's failure to comply with the SIAC Final Award dated March 23, 2020. According to the award, Simplot was required to return critical machinery within 21 days, with the deadline falling on April 14, 2020. Despite the company's earlier issuance of a Notice of Dispute regarding this non-compliance, Simplot has continued to retain the machinery.

Arbitration Details and Financial Claims

Himalaya Food International is now proceeding to file a Notice of Arbitration (NOA) before the Singapore International Arbitration Centre, seeking comprehensive damages for the prolonged non-return of machinery.

The company has reserved its right to claim further compensation until the final resolution of the matter, indicating potential for additional claims beyond the current ₹72 crore demand.

Strategic Approach and Authorization

The Board of Directors has resolved to pursue the Simplot dispute towards a logical conclusion, including exploring the possibility of a global settlement. Mr. Sanjiv Kakkar has been specifically authorized to take all necessary steps to ensure efficient resolution of the matter within the current financial year.

Additionally, the company has requested SIAC to determine the value of the critical and custom-made equipment not returned by Simplot for the purpose of set-off before the Delhi High Court, suggesting parallel legal proceedings in Indian courts.

Funding and Compliance Considerations

Himalaya Food International is exploring various funding options for the litigation, including contingent fee arrangements, while ensuring compliance with applicable norms in Singapore. This approach indicates the company's commitment to pursuing the matter while managing financial risks associated with international arbitration proceedings.

The disclosure emphasizes the company's determination to recover the machinery and seek appropriate compensation for the extended period of non-compliance, which has reportedly impacted production capabilities and profitability over multiple financial years.