PAE Limited announced a series of transformative corporate decisions following its Board of Directors meeting held on February 06, 2026. The comprehensive restructuring initiative encompasses capital expansion, leadership transitions, and strategic repositioning as the company prepares for its next growth phase.

Capital Structure Enhancement

The board approved a significant expansion of the company's authorized share capital structure. The increase from the existing Rs. 25,00,00,000 to Rs. 27,48,00,000 involves creating additional 28,40,000 equity shares of Rs. 10/- each, subject to shareholder approval.

Preferential Issue Approvals

The board sanctioned two major preferential issues totaling Rs. 158.85 crores. The first involves issuing up to 8,00,000 equity shares at Rs. 60/- per share for loan conversion, aggregating Rs. 4,80,00,000. The second, significantly larger issue comprises up to 2,56,74,993 equity shares at the same price for share swap arrangements, totaling Rs. 154,04,99,580.

Leadership Restructuring

Significant changes in the company's leadership structure were approved during the meeting. Mr. Pinalkumar Kalidas Patel has been appointed as Additional Director in the Executive Director category and Chief Financial Officer, effective February 06, 2026. His appointment follows the recommendation of the Nomination and Remuneration Committee.

Concurrently, Mr. Jatinbhai Ramanbhai Patel resigned from his position as Chief Financial Officer due to pre-occupation, while transitioning from Executive Director to Non-Executive Director. This leadership transition ensures continuity in financial oversight while accommodating organizational changes.

Corporate Identity and Location Changes

The board approved changing the company name from 'PAE Limited' to 'Aurique Limited', following approval from the Central Registration Centre on January 09, 2026. Additionally, the registered office will relocate from Mumbai to Ahmedabad, specifically from "Level 1, Block A, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai" to "A-1115 Titanium Business Park, Nr Makarba Railway Crossing, Jivraj Park, Ahmedabad, Gujarat."

Enhanced Financial Capabilities

To support future growth initiatives, the board authorized substantial increases in financial limits. The borrowing capacity has been enhanced to Rs. 5000 crores for working capital requirements and capital expenditure. Similarly, investment limits for loans, guarantees, and securities under Section 186 of the Companies Act, 2013 have been increased to Rs. 5000 crores.

Governance and Compliance Updates

The company will adopt new Memorandum and Articles of Association to reflect all approved changes and ensure compliance with current regulatory requirements. An Annual General Meeting has been scheduled for March 07, 2026, where shareholders will vote on these proposals. M/s J.D. Khatnani & Associates have been appointed as scrutinizers for the e-voting process.

The comprehensive restructuring positions PAE Limited for enhanced operational flexibility and strategic growth as it transitions to its new identity as Aurique Limited.

Source:

PAE Limited has reappointed three Additional Independent Directors following delays in conducting its Annual General Meeting, the company announced in regulatory filings dated January 13, 2026. The board meeting held on December 31, 2025, approved the reappointment of Mr. Akash Patel, Ms. Bhargavi Gupta, and Mr. Mayankkumar Sedani as Additional Independent Directors.

Board Appointments and Committee Roles

The company's board approved three key appointments during its meeting on December 31, 2025:

All three appointments are effective from December 31, 2025, and will continue until the ensuing General Meeting.

AGM Delays and Regulatory Compliance

The reappointments became necessary after PAE Limited could not convene its Annual General Meeting within the extended timeline. The company was required to hold its AGM on or before December 31, 2025, pursuant to an extension granted by competent authorities. However, corporate action restrictions resulted in practical and procedural constraints that prevented the completion of AGM-related compliances.

As the AGM could not be held, the regularization of the Additional Directors as Independent Directors could not be placed before shareholders. Consequently, upon expiry of the permissible period, the tenure of the Additional Directors ceased in accordance with the Companies Act, 2013 provisions.

Director Profiles and Qualifications

Mr. Akash Patel is a qualified Company Secretary and law graduate with over four years of experience in corporate secretarial, legal, and corporate governance matters. He has previously served as Company Secretary and Compliance Officer in renowned companies.

Ms. Bhargavi Gupta brings expertise in secretarial and compliance laws, Insolvency and Bankruptcy Code, and valuation operations. She is described as a competent professional with excellent time management skills and the ability to prioritize and consolidate tasks effectively.

Mr. Mayankkumar Sedani is a Chartered Accountant specializing in financial management, compliance, and strategic operations for automobile dealerships. He has successfully optimized profitability and finance structures across two and four-wheeler businesses, with particular expertise in financial advisory and tax compliance.

Disclosure and Compliance Clarification

PAE Limited acknowledged that the cessation and reappointment should have been intimated to the Stock Exchange within 24 hours under Regulation 30 of SEBI (LODR) Regulations, 2015. The company clarified that the delay was unintentional and procedural, arising from exceptional circumstances and a bona fide oversight in correlating cessation timelines with disclosure requirements.

The company emphasized that there was no intention to suppress material information and reaffirmed its commitment to timely compliance with all applicable SEBI regulations. All three directors are confirmed as not being debarred from holding directorial positions by SEBI or any other regulatory authority.

The board meeting was conducted at the company's corporate office in Ahmedabad and lasted from 4:00 PM to 4:30 PM on December 31, 2025.