Padam Cotton Yarns board approved increasing its authorized share capital from ₹22 crore to ₹49 crore on September 5, 2026. The move aims to facilitate future equity fundraising.

The company also appointed Piyush Kothari & Associates as its new statutory auditors. This appointment fills a casual vacancy left by the resignation of SVJK & Associates. The new auditors will serve a four-year term starting July 27, 2026, subject to shareholder approval.

Capital Restructuring Details

The board resolved to amend Clause V of the Memorandum of Association. The current authorized capital stands at ₹22 crore, divided into 22 crore equity shares of ₹1 each. The proposed increase raises this limit to ₹49 crore, comprising 49 crore equity shares of ₹1 each.

This alteration requires approval from members under Section 13 and Section 61 of the Companies Act, 2013. The detailed disclosure follows Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Auditor Appointment

Piyush Kothari & Associates, a peer-reviewed partnership firm based in Ahmedabad, was appointed as the statutory auditor. The firm, established in 2015 by CA Piyush Kothari, provides services in accounts, taxation, finance, audits, and company law.

The effective date of appointment is July 27, 2026, for the fiscal year 2026-27. Shareholders must approve this appointment at the upcoming annual general meeting.

AGM Schedule

The company will convene its 32nd Annual General Meeting on September 30, 2026, at 12:00 pm. The meeting will be held at the registered office in Karnal.

E-voting will commence on September 27, 2026, at 9:00 am and conclude on September 29, 2026, at 5:00 pm. Members holding shares as of the cut-off date, September 23, 2026, are eligible to vote electronically. Mr. Ashish Goyal has been appointed as the scrutinizer for the e-voting process.

Padam Cotton Yarns Limited shareholders have approved four special resolutions through a postal ballot process that concluded on Aug 1, 2026. The most material outcome is the Board’s enhanced borrowing power, now raised to ₹100 crore under Section 180(1)(C) of the Companies Act, 2013. This increase provides the company with greater financial flexibility for future capital requirements. Additionally, shareholders approved shifting the company’s registered office from Haryana to Gujarat and altering the main object clause of the Memorandum of Association.

The voting results were submitted to BSE Limited on Aug 4, 2026, in compliance with Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. A. Goyal & Associates, led by Company Secretary Ashish Goyal, served as the independent scrutinizer for the remote e-voting process conducted via Central Depository Services Limited (CDSL). The voting window ran from July 3, 2026, at 9:00 AM IST to Aug 1, 2026, at 5:00 PM IST. Votes were unblocked on Aug 3, 2026, in the presence of two independent witnesses.

Resolution Outcomes

All four resolutions were passed with requisite majority. The shift of the registered office and alteration of the main object clause received overwhelming support, exceeding 99% approval. The borrowing power limit increase also secured strong backing at 95.71%. The resolution to create a mortgage or charge under Section 180(1)(A) saw slightly lower but still decisive support at 89%.

Voting Details

The postal ballot notice was issued on May 30, 2026, with notices dispatched on July 2, 2026. Shareholders as of the cut-off date of June 5, 2026, were eligible to vote. All voting was conducted remotely via the CDSL e-voting platform; no votes were cast through polling paper at a physical meeting. Dinesh Shreevastav, Whole-Time Director, signed off on the submission of the results along with the scrutinizer’s report.

What the Numbers Show

The high approval rates across all resolutions indicate strong shareholder alignment with management’s strategic direction. The near-unanimous support for the registered office shift to Gujarat suggests confidence in the operational benefits of this relocation. While the mortgage resolution faced slightly more opposition (11% against), it still comfortably cleared the threshold, reflecting broad acceptance of the proposed financial structuring changes.