Prag Bosimi Synthetics has scheduled its 34th Annual General Meeting for September 25, 2026, to transact routine corporate governance business. The virtual meeting will focus on board composition changes and the approval of specific related-party transactions.

The agenda includes the adoption of audited financial statements for the fiscal year ended March 31, 2026. Shareholders will vote on the re-appointment of Mr. Devang Vyas as a Non-Executive Director by rotation. Additionally, the Board seeks approval for the re-appointment of Ms. Sunita Shah as an Independent Director for a second consecutive five-year term.

Board Appointments

The meeting will regularize the appointment of Mr. Amitabh Saikia as an Independent Director for a first term of five years, commencing from August 17, 2026. Mr. Saikia brings nearly 39 years of experience in industrial infrastructure development and project management from his tenure at Assam Industrial Development Corporation Ltd.

Furthermore, shareholders will consider the appointment of Mr. Krish Devang Vyas as a Non-Executive Director. He is liable to retire by rotation and holds office effective from August 17, 2026. The Board noted his background in physics, mathematics, and analytical problem-solving as beneficial to the company.

Related Party Transactions

A special resolution seeks authority for the Board to enter into transactions with related parties in the ordinary course of business. This includes approving loans or investments in subsidiaries and associates up to ₹25 crore.

The explanatory statement highlights existing unsecured loans from private promoters totaling ₹34.21 crore at an interest rate of 4%. The document notes that no interest has been charged or paid on these loans until FY26. The Board has agreed to continue this interest rate structure for the promoter loans.

Secretarial Auditor Appointment

Following the demise of the previous Secretarial Auditor, Mr. Ashok Patel, the Board appointed Ms. Gayatri Vaibhav Phatak of M/s. G. S. Bhide & Associates to fill the casual vacancy. Shareholders will vote to appoint her for a full term of five consecutive financial years, starting from FY27. The proposed remuneration is ₹60,000 per year plus out-of-pocket expenses.

What the Numbers Show

The disclosure regarding related-party loans reveals a significant financing dependency on private promoters. With ₹34.21 crore in outstanding loans carrying a 4% interest rate—where no interest was charged or paid until FY26—the company maintains low immediate cash outflows for debt servicing. This arrangement suggests a supportive capital structure from promoters, though it concentrates financial risk within the promoter group rather than external institutional lenders.

Prag Bosimi Synthetics Limited has appointed M/s. G.S. Bhide & Associates as its secretarial auditor, effective August 20, 2026. The Board of Directors made the appointment during a meeting held on the same date to fill a casual vacancy in the office of the Secretarial Auditor.

The vacancy arose due to the sudden demise of Late Mr. Ashok Patel, Proprietor of M/s. Ashok Patel and Associates, which occurred on August 16, 2026. Mr. Patel held Practicing Company Secretaries Membership No. F10977 and COP No. 15326. The company acknowledged his professional guidance and contributions during his association with the firm.

Appointment Details

Based on the recommendation of the Audit Committee, the Board appointed Mrs. Gayatri Vaibhav Phatak of M/s. G.S. Bhide & Associates to fill the vacancy. Mrs. Phatak holds Membership No. A31886 and COP No. 11816. Her term will remain valid until the ensuing Annual General Meeting (AGM), where she will be eligible for re-appointment.

The Board also approved a five-year tenure for M/s. G.S. Bhide and Associates, covering the audit period from FY26-27 till FY30-31, subject to shareholder approval at the AGM.

Firm Profile

M/s. G.S. Bhide and Associates is a sole proprietorship and a peer-reviewed firm of Company Secretaries in Practice. The firm has over 10 years of experience providing professional services across Corporate Laws, SEBI Regulations, and FEMA Regulations. Its expertise includes conducting secretarial audits, due diligence audits, legal due diligence, corporate governance audits, and compliance audits. The firm holds Peer Review Number 2016/2022.

The Board meeting commenced at 5:30 pm and concluded at 5:50 pm. The company disclosed the appointment pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Part A of Schedule III of the said regulations.