Saptak Chem and Business Limited has scheduled its 47th Annual General Meeting (AGM) for August 28, 2026, to secure shareholder consent for appointing Ayush Vinod Kumar Tated as Managing Director and regularizing the roles of two independent directors. The meeting, conducted via Video Conferencing, addresses critical governance structures following a significant capital reduction approved by the National Company Law Tribunal (NCLT) Ahmedabad in June 2025. Shareholders will vote on resolutions that solidify leadership amid the company’s business revival efforts, which include a recent ₹5 crore purchase order secured for FY27.

The Board of Directors convened the meeting pursuant to Section 101 of the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. P.H. Shah & Co., Chartered Accountants, served as statutory auditors for FY26, issuing an unmodified audit report. Mrs. Rupal Patel, a Practicing Company Secretary, was appointed as the Scrutinizer for the e-voting process. The agenda includes ordinary business such as adopting audited financial statements for FY26 and special resolutions regarding director appointments.

Key Resolutions and Director Appointments

The primary focus is formalizing leadership roles. Ayush Vinod Kumar Tated, currently serving as Executive Director since January 09, 2026, is proposed for appointment as Managing Director for a five-year term ending January 08, 2031. His monthly remuneration is set at ₹15,000, subject to Schedule V of the Companies Act, 2013, due to inadequate profits. Additionally, shareholders will vote to regularize Jubin Premji Gada and Rinku Saini as Non-Executive Independent Directors for five-year terms commencing August 28, 2026.

Voting Process and Timeline

Remote e-voting will be open from August 25, 2026, at 09:00 a.m. to August 27, 2026, at 05:00 p.m., via the NSDL e-voting system. The record date for determining voting entitlements is August 21, 2026. Members holding shares in demat or physical form can cast votes electronically; proxy appointments are not permitted for this VC-held meeting. The Register of Members and Share Transfer Books will remain closed from August 22, 2026, to August 28, 2026.

What the Numbers Show

The appointment of a Managing Director with a fixed salary under Schedule V highlights the company’s continued focus on cost containment rather than profit-linked incentives. With Q1FY26 revenue at zero and losses narrowing primarily through expense reduction, the leadership transition aims to stabilize operations. The addition of two independent directors strengthens corporate governance, aligning with regulatory requirements while the company navigates its revival phase following capital reduction approvals from NCLT Ahmedabad in June 2025.