Lippi Systems Limited has scheduled its 33rd Annual General Meeting for September 30, 2026. The meeting will be conducted through video conferencing or other audio-visual means at 11:30 am.

The notice was submitted to the BSE on September 8, 2026, in compliance with SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Jagdish Shivji Dholu, Managing Director, signed the filing.

Agenda Items

The ordinary business for the AGM includes two key resolutions:

• Adoption of the audited standalone financial statements for the fiscal year ended March 31, 2026.
• Appointment of Mr. Shivji Dholu (DIN: 01941254) as a director, who retires by rotation.

Shareholders will consider these matters as ordinary resolutions. The company’s registered office is located in Ahmedabad, Gujarat.

The Board of Directors of Lippi Systems Limited approved a name change to Nilkanth Resources Limited and a strategic pivot to integrated bentonite and mineral mining during a meeting on August 27, 2026. The resolution requires shareholder approval at the upcoming Annual General Meeting (AGM).

The company also finalized a change in management control following the successful completion of an open offer. The Board accepted the resignations of outgoing promoters Nandlal Jaigopal Agrawal, Kunal Nandlal Agrawal, Tirthraj Ashokbhai Pandya, and Apexa Ajaykumar Panchal. Simultaneously, it appointed Vinesh Dholu as Executive Director and Jagdish Dholu as Managing Director for five-year terms.

Strategic Pivot and Corporate Restructuring

The Board amended the Memorandum of Association (MOA) to enable activities in integrated bentonite and other minerals mining and processing. This includes prospecting, extracting, processing, and trading in industrial minerals such as sodium bentonite, laterite, calcium bentonite, bauxite, copper, lignite, coal, and iron ore.

Key corporate actions approved include:

• Reclassification of promoter category shareholding to public category pursuant to Regulation 31A of SEBI LODR Regulations.
• Transfer of registered office from Iscon-Ambli Road to Rajpath Highway, Bodakdev, Ahmedabad.
• Approval for related party transactions under Section 188 of the Companies Act, 2013.
• Authorization for loans, guarantees, or investments up to ₹100 crore under Section 186 of the Companies Act, 2013.
• Approval for purchase of land for new projects and increase in borrowing powers subject to shareholder approval.

Leadership Changes and Appointments

New leadership appointments were made effective August 27, 2026:

• Vinesh Dholu: Appointed as Additional Director and Executive Director (five-year term). He brings over 20 years of experience in the coal mining sector.
• Jagdish Dholu: Appointed as Additional Director and Managing Director (five-year term). He also has over 20 years of experience in coal mining.
• Jaimish Patel: Appointed as Non-Executive Independent Director for five years. A qualified Company Secretary with over 13 years of experience in corporate governance.
• Shivji Dholu: Appointed as Non-Executive Non-Independent Director for three years, bringing 30 years of coal mining experience.

The Board reconstituted the Audit Committee, Nomination and Remuneration Committee, and Stakeholders' Relationship Committee. Mr. Jaimish Patel serves as Chairman for all three committees.

Auditor and Compliance Updates

The company replaced its statutory auditors due to the management transition. M/s. Ashok Dhariwal & Co resigned, and M/s. B K Patel & Co was appointed as Statutory Auditors effective August 27, 2026. Similarly, M/s. Kunal Sharma & Associates resigned as Secretarial Auditors, replaced by Mrs. Rupal Patel for a five-year term from FY27 to FY31. M/s. J C Patel & Company was appointed as Internal Auditors.

What the Numbers Show

The share transfer agreement valued the acquisition at ₹56.84 per equity share. The total consideration for 35,67,969 shares was ₹20.28 crore. This transaction transferred approximately 49.76% of the paid-up equity share capital and voting rights to the acquirers, marking a definitive shift in control from the Agrawal family promoters to the Dholu group.

Shareholder Meeting Details

The AGM is scheduled for September 30, 2026, at 11:30 am via Video Conferencing. The Register of Members and Share Transfer Books will remain closed from September 24, 2026, to September 30, 2026. Mrs. Rupal Patel was appointed as Scrutinizer for remote e-voting and voting at the AGM.