Kati Patang Lifestyle Limited has appointed Sanjay Kumar Jain as non-executive chairperson for a five-year term effective September 7, 2026. The company also scheduled its 34th annual general meeting for September 30, 2026, to ratify related party transactions.

Mr. Jain, a Chartered Accountant with over 31 years of experience in investments and corporate finance, holds SEBI accreditations as a Registered Investment Advisor and Research Analyst. He owns 6,50,000 fully paid equity shares, representing 1.22% of the total shareholding as on June 30, 2026.

Leadership Transition Details

The appointment follows the resignation of Gokul Naresh Tandan as chairperson on September 7, 2026. Mr. Tandan continues as managing director. The change ensures compliance with Regulation 17 of SEBI (LODR) Regulations, 2015, which mandates one-third independent directors when a non-promoter non-executive director serves as permanent chairperson.

Mr. Jain was first appointed to the board on November 14, 2024. His role is honorary, with no remuneration payable except sitting fees as per company policy. He is not related to any other director of the company.

AGM Schedule and Voting Details

The meeting will be conducted via video conferencing or other audio-visual means. Remote e-voting opens on September 27, 2026, and closes on September 29, 2026. NSDL facilitates the voting process, with CS Saket Billa serving as the scrutinizer.

The register of members and share transfer books remain closed from September 23, 2026, to September 29, 2026. This closure determines eligibility for voting rights at the meeting.

Related Party Transactions

Shareholders are asked to approve material related party transactions for the financial year 2026-27. The resolution covers loans, equity investments, and other arrangements with specified entities up to defined limits.

The managing director holds authority to decide on parties, amounts, and interest terms within these limits, subject to audit committee approval where necessary. Interested parties, including Mr. Tandan and his relatives, will abstain from voting on this resolution.

Kati Patang Lifestyle Limited issued a first reminder notice on August 29, 2026, urging shareholders to pay the outstanding first and final call on partly paid-up equity shares. The company set a deadline of September 15, 2026, for the payment of ₹10 per share. Failure to comply will render the shares liable for forfeiture.

The notice pertains to the rights issue approved in July 2025, where the company allotted 1,02,56,651 partly paid-up equity shares at an issue price of ₹20 per share. Shareholders initially paid ₹10 as application money. The remaining balance of ₹10 constitutes the first and final call.

Payment Status and Outstanding Amounts

The company reported receiving the first and final call money on 71,16,572 shares. Consequently, it allotted fully paid-up equity shares to these holders on April 27, 2026. As of the notice date, 31,40,079 partly paid-up equity shares remain unpaid. These shares carry a face value of ₹10 each but have a paid-up value of only ₹5 each.

Payment Window and Methods

Shareholders must remit the payment between September 1, 2026, and September 15, 2026. The company waived interest charges for payments made within this period. Payments are accepted only via NEFT or RTGS into the designated Punjab National Bank account. Cash payments and part payments are strictly prohibited. Third-party payments may be rejected unless verified with scanned cheque copies.

Forfeiture and Conversion Process

The notice warns that non-payment during the stipulated period will lead to the forfeiture of the partly paid-up equity shares, including the amount already paid. This action aligns with the Companies Act, 2013, and the company's Articles of Association. Upon successful payment, the depositories will convert the partly paid-up shares into fully paid-up ordinary shares under ISIN INE237C01016. This corporate action is estimated to complete within two weeks of the payment deadline.

What the Numbers Show

The conversion rate of the rights issue reveals significant participation gaps. While approximately 69% of the allotted shares (71,16,572 out of 1,02,56,651) have been fully paid, roughly 31% remain outstanding. This indicates that a substantial portion of eligible shareholders either declined to exercise their rights fully or failed to meet the initial call deadline, leaving them exposed to forfeiture risks if they do not act within the new window.