Milestone Furniture Limited has received approval from the Registrar of Companies (ROC) in Maharashtra to extend the deadline for holding its Annual General Meeting (AGM) for the financial year ended March 31, 2026.

The ROC granted an extension of 1 month and 15 days via an order dated September 19, 2026. This decision follows the company's application filed on September 18, 2026, seeking relief under Section 96(1) of the Companies Act, 2013. The statutory deadline for convening the AGM was originally September 30, 2026.

Extension details and new timeline

The approval allows the company to convene its AGM on or before November 14, 2026. The ROC order, issued by Chandan Kumar, Assistant Registrar of Companies, cited the circumstances presented by the company as grounds for the extension.

Regulatory compliance and next steps

The extension was granted under the powers vested by Section 96(1) of the Companies Act, 2013. The ROC advised the company to exercise caution in future compliance with the provisions of the Act. This intimation was made under Regulation 30 of SEBI (LODR) Regulations, 2015, following an earlier disclosure dated September 17, 2026.

What the numbers show

The swift turnaround between the application date (September 18, 2026) and the approval date (September 19, 2026) indicates that the ROC processed the request within 24 hours. This suggests the application met all procedural requirements and the grounds provided were deemed sufficient without requiring further clarification or additional documentation from the company.

Milestone Furniture Limited approved the resignation of its statutory auditor and appointed a new firm to fill the casual vacancy during a board meeting held on September 17, 2026. The board also sanctioned a six-fold increase in authorised share capital to accommodate potential equity conversions.

The board took on record the resignation of M/s. R. Daga & Company as statutory auditors, effective July 28, 2026. To fill the resulting vacancy, M/s. Gupta Rajesh & Associates was appointed to hold office until the conclusion of the ensuing annual general meeting, subject to shareholder approval within three months. The resigning auditor confirmed no material concerns other than those stated in their letter.

Capital structure and employee benefits

The board approved an increase in authorised share capital from ₹10 crore to ₹60 crore. This expansion divides into 6 crore equity shares of ₹10 each, up from the previous limit of 1 crore shares. The alteration of the Memorandum of Association is subject to shareholder approval.

Additionally, the board recommended the 'Milestone Furniture Limited – Employee Stock Option Scheme 2026' for shareholder approval via special resolution. The scheme was formulated pursuant to Section 62(1)(b) of the Companies Act, 2013, and SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.

Regulatory compliance and operational updates

The board deferred the allotment of shares following conversion notices from holders of Unlisted Secured Optionally Convertible Debentures aggregating ₹5.75 crore. This deferment addresses a procedural omission regarding prior in-principle approval under Regulation 28(1) of SEBI LODR Regulations. Applications for condonation have been authorised.

The company also sought an extension from the Registrar of Companies for convening the AGM for FY26. Furthermore, the board rescinded its earlier decision to open a branch office at Khar West, Mumbai, after commercial negotiations failed to materialize.

Board meeting details