Bazel International Limited, a registered non-banking financial company, has officially filed its regulatory disclosure under SEBI Listing Regulations for the Extraordinary General Meeting (EGM) scheduled on January 30, 2026, to seek shareholder approval for the issuance of bonus shares following the board's recommendation on December 26, 2025.

Official EGM Notification Details

The company has submitted comprehensive documentation to BSE Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:

Bonus Share Proposal Structure

The primary agenda involves approving the capitalization of reserves for bonus equity share issuance:

E-Voting Implementation

Bazel International has established comprehensive remote e-voting facilities through NSDL for shareholder participation:

Strategic Investment Background

The company has strengthened its portfolio through strategic initiatives, including successful participation as the resolution applicant in the Corporate Insolvency Resolution Process of Arur Footwear Limited. The NCLT Chandigarh Bench approved the resolution plan on July 01, 2024, with an aggregate equity infusion of ₹11.70 crores completed alongside strategic co-participants including Sam Realtown Private Limited, Masatya Technologies Private Limited, and other industry partners.

Regulatory Compliance Framework

The bonus issue proposal aligns with multiple regulatory requirements:

The notification was signed by Pankaj Dawar, Managing Director (DIN: 06479649), ensuring full compliance with SEBI disclosure requirements. The company has also made strategic investments in Satyam Projects Limited, an NBFC preparing for BSE listing, further diversifying its investment portfolio.

Bazel International Limited's board of directors held a meeting to discuss critical business developments and compliance matters. The registered non-banking financial company addressed key operational updates regarding its subsidiary and reviewed the status of share warrant collections.

Subsidiary Operations and Strategic Transition

The board conducted a comprehensive review of Arur Footwear Limited's operational performance and transition progress. The subsidiary has undergone a strategic transformation to operate as a focused footwear business under its new corporate identity.

The board reviewed progress made in aligning operations, manufacturing capabilities, and brand development activities with this strategic focus. Management provided updates on regulatory approvals already received and the status of necessary approvals and licenses currently under process.

SOP Fines Resolution and Compliance Updates

Significant developments were noted regarding SOP (Surveillance and Observation Post) fines imposed on the subsidiary. BSE Limited has withdrawn all SOP fines levied on Arur Footwear Limited for the period prior to July 1, 2024, following the approval of the Resolution Plan by the NCLT Chandigarh Bench.

For the quarter ended September 2024, BSE Limited granted a partial waiver of SOP fines, resulting in a net payable amount of ₹26.08 lakh (inclusive of GST). The subsidiary has remitted this amount under protest while reserving its right to pursue further remedies and continuing to make appropriate representations in the matter.

Share Warrant Status and Fund Collection

The board reviewed the status of funds received against 24,60,928 share warrants allotted on a preferential basis. These warrants were issued pursuant to the board meeting held on February 12, 2025, in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

The company had received 25% of the total consideration upfront at the time of warrant issuance, as mandated under SEBI ICDR Regulations. Out of the balance 75% consideration amounting to ₹7.77 crore, the company has received ₹6.65 crore from allottees, leaving ₹1.13 crore outstanding.

Management Directives and Compliance

The board directed management to take necessary steps for recovery of the outstanding warrant consideration amount within prescribed timelines. This directive emphasizes ensuring compliance with applicable provisions of SEBI ICDR Regulations and other applicable laws.

The board meeting addressed critical operational and financial matters that impact both the parent company and its subsidiary's strategic direction in the footwear sector.