Amit International Limited has announced its Board of Directors' proposal to appoint Ms. Sugandha Narayan Jagtap as an Additional Independent Women Director of the company. The announcement was made through a formal communication to BSE Limited on March 5, 2026.

Board Resolution Details

The company has outlined key resolutions that the Board of Directors proposes to pass:

Regulatory Compliance

The intimation has been made in strict compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to disclose material events and information that could impact investor decisions.

Company Communication

The formal communication was signed by Kirti Doshi, Director (DIN: 01964171), on behalf of the Board of Directors. The company has requested BSE Limited to acknowledge receipt of this intimation and take the information on record.

Corporate Governance Enhancement

The proposed appointment of Ms. Sugandha Narayan Jagtap as an Additional Independent Women Director represents the company's commitment to strengthening its board composition and enhancing corporate governance practices. Independent directors play a crucial role in providing objective oversight and guidance to company management.

ATN International Limited has announced an extraordinary general meeting (EGM) scheduled for March 09, 2026, to seek shareholder approval for a substantial reduction in share capital aimed at addressing the company's accumulated losses.

Meeting Details and Agenda

The EGM will be held on Monday, March 09, 2026, at 01:30 PM at the company's registered office located at 10 Princep Street, 2nd Floor, Kolkata-700072. The primary agenda involves approving a special resolution for the reduction of share capital under Section 66 of the Companies Act, 2013.

Proposed Capital Reduction Structure

The company proposes to significantly reduce its share capital to address mounting accumulated losses. The reduction involves cancelling and extinguishing a substantial portion of existing equity shares.

Financial Position and Accumulated Losses

As on September 30, 2025, ATN International Limited reported total accumulated losses of Rs. 23,49,82,000. The company proposes to set off Rs. 15,46,44,000 of these losses against its paid-up capital.

The company has been experiencing consistent losses over the past five financial years, with the most significant loss of Rs. 5,54,07,298 recorded in 2020-2021.

Regulatory Approvals and Process

The proposed capital reduction requires multiple levels of approval to become effective. The company must obtain consent from shareholders through a special resolution and subsequent confirmation from the National Company Law Tribunal (NCLT).

Key regulatory requirements include:

• Shareholder approval via special resolution at the EGM
• NCLT confirmation under Section 66 of the Companies Act, 2013
• Filing of certified copies with the Registrar of Companies
• Compliance with SEBI listing regulations

Shareholder Impact and Voting Process

The capital reduction will not involve any cash outflow to shareholders, as it represents a book adjustment to eliminate accumulated losses. The shareholding pattern and percentage holdings of existing shareholders will remain unchanged.

Shareholders can participate in the voting process through remote e-voting facilities provided by CDSL or attend the physical meeting. The company has appointed Atul Kumar Labh, Practicing Company Secretary, as the scrutinizer for the e-voting process.

Strategic Rationale

The management believes this capital reduction will enable the company to present a more accurate financial position and facilitate future fundraising efforts. By eliminating a significant portion of accumulated losses from the balance sheet, the company aims to improve its ability to access capital markets and financial institutions for business expansion.

The proposed scheme does not envisage any transfer of properties or liabilities and will not adversely affect creditors' interests, as no payments are involved in the capital reduction process.

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