Lakhotia Polyesters (India) Ltd has announced a delay in the completion of its proposed acquisition of New Nexus FZ LLC. The company was initially scheduled to conclude the transaction by June 30, 2026, but now expects it to be finalized on or before September 30, 2026, pending regulatory approvals.

The disclosure, made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, updates previous intimations dated December 12, 2025, and April 01, 2026. The delay is attributed to a lag in the receipt of required regulatory clearances for the deal.

Acquisition Details

The proposed transaction involves the purchase of a 100% stake in New Nexus FZ LLC, an entity based in Dubai. The company had previously communicated its intent to acquire the entity and provided an initial timeline for the closure of the deal.

Regulatory Compliance

The intimation was submitted to BSE Limited to inform shareholders about the revised timeline. The company stated that the extension is necessary to accommodate the procedural requirements of the regulatory bodies involved. Managing Director Madhusudan Shamsundar Lakhotiya signed the disclosure on June 29, 2026.

Futura Polyesters Limited approved its audited financial statements for the year ended March 31, 2025, and appointed M/s. Shobha Ambure & Associates as Secretarial Auditors during its 64th Annual General Meeting held on June 19, 2026. The meeting, conducted via video conferencing, saw all resolutions passed with a requisite majority through remote e-voting.

The company's financials for FY25 were adopted alongside the reports of the Directors and Auditors. The resolution received 99.99% votes in favour, with 0.01% against. No votes were cast during the electronic voting session at the AGM itself, as all participation occurred through the remote e-voting facility provided by Central Depository Services (India) Limited (CDSL).

Resolutions Passed

The shareholders approved two key resolutions during the meeting. The appointment of the Secretarial Auditor was also passed with an identical margin of 99.99% in favour.

Meeting Details

The AGM was chaired by Shyam B. Ghia, Chairman & Managing Director. A total of 33 members attended the meeting through video conferencing. The remote e-voting facility was open from June 16, 2026, to June 18, 2026. The scrutinizer's report confirmed that the electronic voting process complied with the provisions of the Companies Act, 2013, and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The proceedings were video recorded, and the scrutinizer, Martinho Ferrao, validated the voting results. The company confirmed that there were no queries from the members during the meeting.