Prakash Woollen & Synthetic Mills Limited has entered into an inter-corporate loan agreement with Martco Exports Private Limited for a total value of ₹50 lakh. The transaction, executed on October 5, 2026, provides temporary financial accommodation to the textile manufacturer.

The company disclosed the development in a filing to BSE on October 6, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The agreement specifies an interest rate of 9.00%, which the company stated aligns with prevailing market rates.

Key terms of the agreement

The loan facility is structured with a tenure of six months. The company noted that this period can be extended if mutually decided by both parties. Prakash Woollen acts as the borrower, while Martco Exports serves as the lender.

Relationship and regulatory disclosures

The filing clarified that Martco Exports is not related to the promoter, promoter group, or group companies of Prakash Woollen. Consequently, the transaction does not fall within the scope of related party transactions. There are no special rights attached to the agreement, such as rights to appoint directors or restrictions on capital structure changes. Additionally, no shares were issued to the lender as part of this arrangement.

Prakash Woollen & Synthetic Mills concluded its 47th Annual General Meeting on September 25, 2026, with all resolutions passing with requisite majority. The meeting, presided over by Chairman Dr. Sandeep Raj, saw unanimous support for the adoption of FY26 financial statements and key director reappointments.

The event took place at the company's registered office and works location at 18th Km Stone, Delhi Moradabad Road, NH-24, Village Amhera, District J. P. Nagar. Company Secretary Sneha Agarwal welcomed members and introduced the Board, auditors, and the scrutinizer. Dr. Sandeep Raj declared the meeting open after confirming quorum, noting that no qualifications were present in either the Statutory Auditor Report or the Secretarial Audit Report.

Scrutinizer confirms voting outcomes

Ballot papers (MGT 12) were distributed to members present who had not voted via remote e-voting. The Ballot Box was opened in the presence of two witnesses, and papers were collected by scrutinizer Rupinder Singh Bhatia. Based on the scrutinizer's report submitted on September 25, 2026, the voting results have been declared.

The final results will be placed on the company's website and communicated to BSE Limited. No financial performance metrics were disclosed in this specific procedural update regarding the AGM outcome.

Resolution-wise voting details

The scrutinizer's report detailed the voting patterns for four key resolutions. All ordinary and special resolutions received unanimous support from valid votes cast, with no invalid votes recorded.

Procedural compliance and next steps

The scrutinizer noted that no proxy was received and no poll paper was found incomplete or defective. The total number of members casting votes was 213, comprising 12 present and voting in person or by proxy, and 201 voting electronically. The new data specifies that 95 members were present in person with zero proxies, aligning with the procedural count of those voting physically during the session.

All poll papers and records were sealed and handed over to the Director authorized by the Board for safe keeping. The Company Secretary & Compliance Officer, Sneha Agarwal, confirmed the submission of the report to BSE Limited.

Director re-appointment specifics

Pursuant to the approval of Resolution 4, Vijay Kumar Gupta has been formally re-appointed as Whole Time Director for a three-year term effective from April 1, 2027, to March 31, 2030. This appointment complies with Sections 196, 197, and 203 of the Companies Act, 2013, read with Rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, and Schedule V.

Gupta, who holds a commerce degree, has served the company since its incorporation, bringing 47 years of experience in accounting and financial management. His shareholding in the company stands at 423,709 shares. He is the brother of Daya Kishan Gupta and father of Ashish Gupta.

The proposed remuneration for this term is ₹7,00,000 per month, inclusive of perquisites. This amount aligns with the company's Nomination and Remuneration Policy. The terms and conditions are governed by his appointment letter.