KDJ Holidayscapes AGM Approves Rs 100 Cr Borrowing
KDJ Holidayscapes & Resorts Limited held its 32nd AGM on May 21, 2026, approving 14 resolutions including borrowing Rs 100 Cr from a director and shifting the registered office to Gujarat. All resolutions were passed with requisite majority.
*this image is generated using AI for illustrative purposes only.
KDJ Holidayscapes & Resorts Limited held its 32nd Annual General Meeting (AGM) on Thursday, May 21, 2026, through Video Conferencing and Other Audio Visual Means. The meeting was chaired by Mr. Ravikumar Gaurishankar Patel, with requisite quorum present. The company confirmed that the Notice convening the AGM and the Annual Report for the financial year ended March 31, 2025, had been circulated electronically to members. A corrigendum dated May 11, 2026, regarding a Regulation 45 certificate, was also included as part of the proceedings.
Business Transacted
The AGM transacted fourteen items of business, categorized into ordinary and special business. Shareholders adopted the audited standalone and consolidated financial statements for the financial year ended March 31, 2025, along with the reports of the Board of Directors and Auditors. In the ordinary business, Mr. Akash Parmar was re-appointed as a director, having retired by rotation.
Key Approvals
The special business segment saw the approval of several critical resolutions. Shareholders authorized the company to borrow unsecured loans up to ₹100 Crores from a director, with an option to convert the loan into equity shares at a later date. The meeting also approved the enhancement of borrowing limits under Section 180(1)(c) and limits under Section 186 of the Companies Act, 2013.
Corporate Governance Changes
Significant structural changes were approved during the meeting. Members sanctioned the change of the company's name and the consequent alteration of the Memorandum of Association (MoA) and Articles of Association (AoA). The registered office will be shifted from Maharashtra to Gujarat, requiring an alteration of Clause II of the MoA. Furthermore, the object clause of the company was changed, and a new set of MoA was adopted to conform to the Companies Act, 2013.
Memorandum of Association Amendments
The adoption of the new set of Memorandum of Association involved specific amendments to key clauses as per Table-A of Schedule I of the Companies Act, 2013.
| Sr. No. | Particulars | Existing Provision | Amended Provision |
|---|---|---|---|
| 1. | Name Clause (Clause I) | Name of the Company as appearing in the existing MOA | Substituted with the revised name of the Company, subject to approval of the Registrar of Companies |
| 2. | Registered Office Clause (Clause II) | Registered office situated in the State of Maharashtra | Revised to reflect the registered office of the Company situated in the State of Gujarat, subject to requisite approvals. |
| 3. | Object Clause (Clause III) | Existing Objects Clause containing main objects and ancillary objects | Replaced with the new Object Clause aligned with Table A of Schedule I of the Companies Act, 2013. Moreover, the other object clause in clause III stand deleted. |
Appointments
The board saw several new appointments. Ms. Heena Prajapati, Mr. Vinit Narendrakumar Sinha, and Ms. Neha Kanwar Bhati were appointed as Independent Directors. Additionally, M/s. Avni & Associates were appointed as Secretarial Auditors for a term of five consecutive financial years from FY 2025-26 to FY 2029-30. Mr. Hemantbhai Khodidasbhai Raval was appointed as the Managing Director of the company.
Voting Results
Remote e-voting facilities were available from May 18, 2026, to May 20, 2026. M/s. Dharti Patel & Associates was appointed as the Scrutinizer to oversee the voting process. As per the Scrutinizer’s Report, all 14 resolutions were duly approved by the shareholders with the requisite majority. The total number of shareholders on the record date of May 14, 2026, was 328. Promoters and the promoter group held 475,000 shares, while the public held 25,000 shares. The voting results and the Scrutinizer's Report were submitted to the Stock Exchange within the prescribed timelines. The meeting concluded with a vote of thanks at 11:16 A.M. IST.
What strategic business direction does the change in the company's name and object clause signal, and which new industries or sectors might KDJ Holidayscapes & Resorts be pivoting toward?
How might the relocation of the registered office from Maharashtra to Gujarat impact the company's operational costs, regulatory environment, and access to new business opportunities?
What are the potential risks and implications for minority shareholders given that the ₹100 Crore unsecured loan from a director carries an option to convert into equity, which could lead to significant dilution of public shareholding?
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