Lakhotia Polyesters (India) Limited has authorized three Key Managerial Personnel to determine the materiality of events or information and to make subsequent disclosures to stock exchanges. The company issued the intimation on August 20, 2026, pursuant to Regulation 30(5) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The authorized personnel include the Managing Director, Chief Financial Officer, and Company Secretary & Compliance Officer. These individuals are severally authorized to handle disclosure obligations, ensuring compliance with regulatory requirements regarding material event reporting.

Authorized Personnel

The following executives have been designated for these responsibilities:

Madhusudan Shamsundar Lakhotiya, the Managing Director, digitally signed the intimation. The company is headquartered in Nashik, Maharashtra, and is listed on the BSE Limited with scrip code 535387.

Futura Polyesters Limited has scheduled its Extraordinary General Meeting (EGM) for August 26, 2026, to seek shareholder approval for extending the redemption of its 9% Non-Cumulative Redeemable Preference Shares until September 2030. The meeting, held via Video Conferencing or Other Audio-Visual Means (OAVM), will also ratify the appointment of Dhvani M Shah & Associates as Statutory Auditors. This deferral of ₹19.89 crore in principal repayments preserves liquidity, with remote e-voting commencing on August 23, 2026.

The Board of Directors approved these resolutions on August 3, 2026. The preference shares, originally issued on September 17, 2010, were due for redemption on September 17, 2025. The extension pushes this date to September 17, 2030, while maintaining the 9% dividend rate. Prior approval was obtained from preference shareholders via written consent under Section 48 of the Companies Act, 2013. Equity shareholders will vote via a Special Resolution.

Auditor Appointment

Dhvani M Shah & Associates (FRN: 161963W) replaces V.S. Somani & Co., whose term expired. The new auditor’s term begins from the conclusion of the August 3 Board Meeting and lasts until the next Annual General Meeting. Remuneration is fixed at ₹5,00,000 plus applicable taxes and out-of-pocket expenses. Dhvani M Shah leads the firm and holds two years of post-qualification experience. The firm confirmed it is not debarred by SEBI or other authorities.

EGM and Voting Details

The EGM will be held on Wednesday, August 26, 2026, at 11:00 a.m. IST. The cut-off date for voting eligibility is August 19, 2026. Remote e-voting is available from August 23, 2026, at 9:00 a.m. IST until August 25, 2026, at 5:00 p.m. IST. CDSL serves as the e-voting service provider. Mr. Martinho Ferrao of Martinho Ferrao & Associates (FCS 6221) is appointed as Scrutinizer. Results will be declared within 48 hours of the meeting’s conclusion.

What the Numbers Show

The five-year extension defers a significant cash outflow, aiding short-term liquidity management. Since the preference shares are held by promoter-controlled entities, Chairman and Managing Director Shyam B. Ghia is deemed interested in the resolution. This structure suggests the move facilitates internal group financial planning without impacting external creditors. The constant dividend rate ensures the cost of capital remains unchanged, though the principal liability is postponed.