Padam Cotton Yarns has scheduled its 32nd Annual General Meeting (AGM) for September 30, 2026. The meeting will seek shareholder approval for a significant increase in authorized share capital and the appointment of a new independent director.

The company’s board approved increasing its authorized share capital from ₹22 crore to ₹49 crore on September 5, 2026. This move aims to facilitate future equity fundraising. The detailed disclosure follows Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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. These new shares will rank pari-passu with existing equity shares.

This alteration requires approval from members under Section 13 and Section 61 of the Companies Act, 2013. The explanatory statement notes that the increase is intended to broaden the capital structure and meet future funding requirements via equity issuance.

Auditor Appointment

Piyush Kothari & Associates, a peer-reviewed partnership firm based in Ahmedabad, was appointed as the statutory auditor. This appointment fills a casual vacancy left by the resignation of SVJK & Associates on July 27, 2026. SVJK cited commercially non-viable professional fees as the reason for resignation.

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. The firm will serve a four-year term starting from the conclusion of the AGM, covering FY27 to FY31. The proposed statutory audit fees shall not exceed ₹6.10 lakh per annum, plus out-of-pocket expenses.

New Independent Director

The AGM will also consider the appointment of Mr. Dharmesh Mithabhai Patel as an independent director. He was initially appointed as an additional director on August 14, 2026, pursuant to Section 161 of the Companies Act, 2013.

Mr. Patel holds a Bachelor of Commerce degree from Gujarat University and has nine years of experience as a tax consultant. He currently serves as a director in Mafia Trends Limited, where he chairs the Audit Committee and the Nomination & Remuneration Committee. He does not hold any shares in Padam Cotton Yarns. His appointment is for a five-year term, ending August 13, 2031, and he will not be liable to retire by rotation.

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.