AVAX Apparels and Ornaments Limited announced the outcome of its board meeting held on February 17, 2026, where directors approved significant corporate restructuring decisions under Regulation 30 of SEBI regulations. The comprehensive package includes stock subdivision, bonus share issuance, and management redesignations, all subject to shareholder approval.

Stock Subdivision Implementation

The board approved subdividing equity shares from ₹10 to ₹5 face value, effectively doubling the number of outstanding shares while maintaining total share capital value. This subdivision aims to enhance liquidity and enable higher public participation.

The company will complete the subdivision within 2 months from board approval, subject to necessary regulatory approvals. Record dates for entitlement will be announced separately.

Bonus Share Issuance Details

The board approved issuing bonus equity shares in a 3:1 ratio, creating 62,34,948 new equity shares of ₹5 each from free reserves and share premium account. The company has ₹557.03 lacs available in free reserves as of March 31, 2025, with ₹311.75 lacs required for implementation.

The bonus shares will be credited within 2 months of board approval, with figures audited and verified as per regulatory requirements.

Management Restructuring

The board redesignated two key executives as Joint Managing Directors for five-year terms from February 17, 2026 to February 16, 2031. Mr. Harinderpal Singh Sodhi (DIN-09283654) brings over ten years of business management experience with a Bachelor's degree from Shridhar University, Pilani, Rajasthan.

Mr. Deepak Kumar (DIN-08267845) was also redesignated as Joint Managing Director, bringing significant financial expertise with a Master of Commerce from Punjab University, Ludhiana, and 10 years of experience including tenure as Assistant Manager at SEBI. He is married to Ms. Deepika Garg, the company's Whole Time Director.

Key Personnel Authorization Updates

Following the management restructuring, the company updated its authorized personnel for regulatory disclosures under SEBI regulations. The key management team includes Harinderpal Singh Sodhi and Deepak Kumar as Joint Managing Directors, Deepika Garg as Whole Time Director, and Shruti Jain as Company Secretary and Compliance Officer.

All proposed corporate actions require shareholder approval through appropriate resolutions in the company's general meeting. The board meeting concluded at 02:00 PM IST with all necessary regulatory disclosures filed under SEBI compliance requirements.

AVAX Apparels And Ornaments Limited successfully concluded its 2nd Extra-Ordinary General Meeting on January 12, 2026, with shareholders demonstrating unanimous support for all proposed resolutions. The meeting, conducted through video conferencing from 3:30 PM to 3:45 PM IST, marked significant corporate governance developments for the Delhi-based apparels and ornaments company.

Meeting Overview and Participation

The EGM witnessed participation from seven shareholders through video conferencing, comprising two from the promoter group and five from the public category. The company had a total of 70 shareholders on the record date of January 5, 2026. The voting process utilized both remote e-voting facilities and e-voting during the meeting, with Central Depository Securities (India) Limited serving as the e-voting service provider.

Resolution Outcomes and Voting Results

All three resolutions presented to shareholders received overwhelming support, with each resolution securing 100% approval from voting members. The voting demonstrated strong alignment between promoter and public shareholders across all agenda items.

Resolution 1: Independent Director Appointment

Shareholders approved the appointment of Ms. Shruti Shri Agnihotri (DIN-11323825) as Non-Executive Independent Director through a special resolution. This appointment strengthens the company's board composition with independent oversight.

Resolution 2: Whole Time Director Appointment

The second special resolution approved the appointment and remuneration of Mr. Deepak Kumar (DIN-08267845) as Whole Time Director. This resolution, which involved promoter group interest, received identical voting support across all shareholder categories.

Resolution 3: Share Capital Increase

Shareholders passed an ordinary resolution to increase the company's authorized share capital and make consequential amendments to the Memorandum of Association. This corporate restructuring move received the same unanimous support pattern as the previous resolutions.

E-Voting Process and Compliance

The company ensured comprehensive voting access through multiple channels. Remote e-voting was available from January 9, 2026, at 9:00 AM IST to January 11, 2026, at 5:00 PM IST. Additional e-voting facilities were provided during the meeting for shareholders who had not previously voted.

Regulatory Compliance and Documentation

FCS Gaurav Gupta of G Gupta & Associates served as the scrutinizer for the e-voting process, ensuring compliance with Section 108 of the Companies Act, 2013, and Regulation 44 of SEBI Listing Regulations. The scrutinizer's report confirmed the validity of all votes cast and the proper conduct of the electronic voting process.

The company has submitted the voting results and scrutinizer's report to BSE Limited in compliance with regulatory requirements. Company Secretary Shruti Jain coordinated the regulatory filings and ensured adherence to all disclosure obligations under the SEBI Listing Regulations.