Parvati Sweetners and Power Limited convened its 15th Annual General Meeting (AGM) on September 29, 2026, seeking member approval for a strategic acquisition and executive remuneration updates. The meeting, conducted via video conferencing, focused on the proposed purchase of a 51% equity stake in a related party entity.

The most significant item on the agenda was the special resolution to acquire 51% of the paid-up equity share capital of M/s Vedshree Food Industries Private Limited. The company proposes to purchase or subscribe to 5,100 equity shares with a face value of ₹10 each. The total consideration for this transaction is set at ₹6 crore. This acquisition involves a related party, as indicated by the company's disclosures under SEBI (LODR) Regulations.

Board and Governance Updates

The AGM also addressed the re-appointment of key personnel and auditor remuneration. Members were asked to approve the re-appointment of Ms. Pooja Shree Chouksey as a director, who retired by rotation. Additionally, a special resolution sought approval for the appointment and remuneration of Mrs. Poonam Chouksey as Managing Director for a period of three years.

Under the proposed terms, if the company reports no profits or inadequate profits, the remuneration payable to the Managing Director shall not exceed ₹84 lakh per annum, provided the effective capital is between ₹5 crore and ₹100 crore. This aligns with Schedule V limits of the Companies Act, 2013.

Auditor Remuneration Ratification

Members also ratified the remuneration payable to the Cost Auditors for FY27. The board had appointed M/s Sanjay Kasliwal & Associates as Cost Auditors. The ratified annual fee is ₹30,000, plus applicable taxes and reimbursement of out-of-pocket expenses incurred during the audit process.

Meeting Logistics and Voting

The meeting was held virtually in compliance with MCA circulars permitting AGMs through Video Conferencing (VC) or Other Audio Visual Means (OAVM). A total of 33 members attended the meeting through VC, meeting the quorum requirement. Electronic voting results will be announced separately within two working days following the receipt of the scrutinizer's report.

Parvati Sweetners & Power has scheduled its 15th Annual General Meeting for September 29, 2026. The meeting will address a proposed ₹6 crore acquisition of a controlling stake in a related party food processing firm.

The company will hold the AGM via Video Conferencing or Other Audio Visual Means, with its registered office in Bhopal deemed as the venue. Shareholders holding shares as on September 22, 2026, are eligible to vote. Remote e-voting facilities will be provided through CDSL from September 26, 2026, at 9:00 am to September 28, 2026, at 5:00 pm, pursuant to Regulation 44 of the SEBI (LODR) Regulations, 2015. Shri CS Piyush Bindal has been appointed as the scrutinizer for the voting process.

Acquisition of Vedshree Food Industries

The most significant special business item involves acquiring a 51% equity stake in M/s Vedshree Food Industries Private Limited. The total consideration for this transaction is ₹6,00,00,000. This relates to the purchase of 5,100 equity shares with a face value of ₹10 each.

Vedshree Food Industries is classified as a related party due to common directorship and promoter shareholding involving Dr. Anupam Chouksey. The Board approved the proposal on May 30, 2026, following recommendations from the Audit Committee and Executive Committee. An independent registered valuer report underpins the valuation basis for this deal.

Management Re-appointments

Shareholders will also vote on the re-appointment of Mrs. Poonam Chouksey as Managing Director for a three-year term. Her current tenure expires at this AGM. The explanatory statement notes that the company’s financial performance in FY26 did not meet expectations, potentially leading to inadequate profits in FY27.

Consequently, the remuneration structure adheres to Schedule V of the Companies Act, 2013. In the event of no profits or inadequate profits, the yearly remuneration limit is set at ₹84 lakhs, assuming the effective capital falls between ₹5 crore and ₹100 crore.

Additionally, Ms. Pooja Shree Chouksey retires by rotation and offers herself for re-appointment as a Non-Executive Non-Independent Director.

Cost Auditor Ratification

The AGM will ratify the remuneration payable to M/s Sanjay Kasliwal & Associates, Cost Accountants. The firm was appointed to audit cost records for the financial year ending March 31, 2027. The agreed remuneration is ₹30,000 per annum, plus taxes and reimbursement of out-of-pocket expenses.

What the Numbers Show

The acquisition of Vedshree Food Industries represents a strategic pivot toward food processing, leveraging supply chain synergies. The consideration of ₹6 crore for a 51% stake implies a total implied valuation of approximately ₹11.76 crore for the target entity. This move aligns with the company's stated long-term strategy to expand its operational footprint beyond its existing sweetners and power business.