AVI Polymers Limited has issued a clarification regarding its board meeting outcome dated September 5, 2025, addressing missing disclosure requirements under SEBI regulations. The company submitted a revised intimation on December 16, 2025, to the Bombay Stock Exchange, acknowledging that it had erroneously missed certain mandatory disclosures for resigning independent directors.

Clarification Details

The company's Managing Director, Chintany Ashwantbhai Patel (DIN: 10774473), informed the exchange that the original board meeting outcome failed to include required disclosures under Part A of Schedule III of SEBI (LODR) 2015. Specifically, the company missed mentioning the names of listed entities where resigning directors hold directorships, along with their category of directorship and board committee memberships.

Board Changes Summary

The September 5, 2025 board meeting involved significant leadership restructuring:

New Appointments:

• Mr. Sadhu Jignesh Harendrabhai (DIN: 11278005) - Additional Non-Executive Independent Director (BSc graduate)
• Ms. Varsha Prajapat (DIN: 11277997) - Additional Non-Executive Independent Director (MA graduate)
• Mr. Harsh Parmar (DIN: 11279019) - Additional Executive Director (B.Com graduate)

Resignations:

• Ms. Sapna (DIN: 10294154) - Non-Executive Independent Director
• Mr. Ram Kumar Singh (DIN: 10871912) - Non-Executive Independent Director
• Ms. Ritu Tiwari - Company Secretary and Compliance Officer

Resigning Directors' Other Directorships

The revised disclosure reveals the external directorships of resigning independent directors:

Ms. Sapna's Directorships:

Mr. Ram Kumar Singh's Directorships:

Auditor Changes

The board meeting also addressed changes in the secretarial auditing team:

• Resignation: M/s. Jalan Alkesh & Associates stepped down due to other professional commitments
• Appointment: M/s SCS & CO. LLP, led by Mr. Abhishek Chhajed (FCS 11334), was appointed as new Secretarial Auditors for FY 2024-25

Compliance and Regulatory Framework

The clarification demonstrates AVI Polymers' commitment to regulatory compliance under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has assured that all necessary statutory forms will be filed with the Registrar of Companies in accordance with the Companies Act, 2013.

The board meeting, which lasted from 11:30 a.m. to 11:45 a.m. on September 5, 2025, represents a significant transition period for the company as it strengthens its corporate governance framework with new leadership appointments.

AVI Polymers Limited has successfully concluded its Extraordinary General Meeting (EGM) held on December 11, 2025, with shareholders unanimously approving key resolutions including a massive 15-fold increase in authorized share capital. The company, listed on the Bombay Stock Exchange (BSE: 539288), conducted the meeting through video conferencing with strong shareholder participation.

EGM Voting Results

The voting results demonstrate overwhelming shareholder support for the proposed changes:

Resolution 1: Share Capital Increase Approved

Shareholders unanimously approved the increase in authorized share capital with 100.00% votes in favor:

The approved restructuring increases the company's authorized share capital from ₹6.5 crore to ₹100 crore, expanding the number of equity shares from 65 lakh to 10 crore while maintaining the face value of ₹10 per share.

Resolution 2: New Statutory Auditors Appointed

Shareholders also unanimously approved the appointment of M/s Kapil Kumar Agrawal Associates as the company's statutory auditors, receiving 100.00% votes in favor across all categories.

E-Voting Process and Scrutiny

The voting process was conducted transparently with National Securities Depository Limited (NSDL) providing the e-voting platform. M/s SCS & Co. LLP, Company Secretaries, served as scrutinizers under the supervision of Abhishek Chhajed (FCS 11334). The remote e-voting period remained open from December 8, 2025, at 9:00 AM to December 10, 2025, at 5:00 PM.

Strategic Implications

The substantial increase in authorized share capital positions AVI Polymers for potential future growth initiatives, capital raising activities, or strategic expansions. The unanimous shareholder approval reflects strong confidence in the company's management and strategic direction. The appointment of new statutory auditors ensures continued compliance with regulatory requirements and corporate governance standards.

The company has fulfilled all regulatory obligations under Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with Managing Director Chintan Yashwantbhai Patel (DIN: 10774473) overseeing the process completion.