Banganga Paper Industries Limited has officially confirmed the appointment of M/s. Batliboi & Purohit Chartered Accountants as its statutory auditor for the Financial Year 2025-26. The appointment follows shareholder approval at an Extra Ordinary General Meeting held on January 14, 2026, and addresses a casual vacancy created by the resignation of the previous auditor.

Auditor Appointment Details

The company informed BSE Limited on January 15, 2026, about the confirmation of the new statutory auditor appointment. The following table summarizes the key appointment details:

Shareholder Approval Process

The appointment received formal approval from shareholders during the Extra Ordinary General Meeting conducted on Wednesday, January 14, 2026. This meeting was specifically convened to address the casual vacancy in the statutory auditor position caused by the resignation of M/s. Jain Chhajed & Associates, Chartered Accountants.

The remuneration for the newly appointed auditor will be determined by the Board of Directors in consultation with M/s. Batliboi & Purohit Chartered Accountants.

Auditor Profile and Expertise

M/s. Batliboi & Purohit operates as a Partnership Firm with extensive experience in handling assignments under both IGAAP and Ind AS frameworks for large domestic clients. Their professional capabilities include:

• Audit services for both Public Limited and Private Limited Companies
• Expertise in efficient and effective conventional audit practices followed in India
• Comprehensive experience in Income tax, GST, Service tax, and VAT/State Sales Tax laws
• Wide-ranging audit methodology experience

Regulatory Compliance

The appointment notification was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulation, 2015, read with Schedule III. The company also referenced SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, in its disclosure.

Company Secretary and Compliance Officer Jitendra Rajendra Patil signed the official communication to BSE Limited, ensuring all regulatory requirements were met for the auditor appointment disclosure.

Banganga Paper Industries Limited has announced a comprehensive preferential issue of equity shares and convertible warrants following shareholder approval at its Extraordinary General Meeting held on January 14, 2026. The company successfully concluded the EGM with shareholders demonstrating strong support by approving all 10 proposed resolutions, including authorization for the preferential issue.

Preferential Issue Details

The company has disclosed details of its preferential issue under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The issue comprises multiple components targeting different investor categories.

Share Swap Arrangements

The preferential issue includes significant share swap transactions with non-promoter investors. The largest allocation goes to Ronak Jain with 3,28,34,551 shares, followed by Sarita Jain with 3,21,40,772 shares, and Jasmine with 2,97,45,582 shares.

Cash Issue and Convertible Warrants

The cash component of the preferential issue targets multiple non-promoter investors, with Deepak Saraf receiving the largest allocation of 1,65,75,000 shares. Estara Ventures Private Limited and Himathsingh R Marak are also significant beneficiaries with allocations of 1,50,00,000 and 1,48,05,000 shares respectively.

The convertible warrants component includes allocations to the Jain family members, with Karishma Jain receiving 60,00,000 warrants, while Ronak Jain and Priyanka Jain each receive 50,00,000 warrants.

EGM Success and Corporate Transformation

The EGM was conducted through video conferencing, commencing at 12:02 PM and concluding at 12:46 PM on January 14, 2026. Despite technical difficulties that delayed the originally scheduled 11:00 AM start time, the meeting proceeded with robust shareholder participation, demonstrating 100.00% participation from public non-institutional shareholders.

The approved resolutions included increase in borrowing limits, enhancement of authorized share capital structure, official name change from Inertia Steel Limited to Banganga Paper Industries Limited, and authorization for the preferential issue of equity shares and convertible warrants.

Regulatory Compliance and Next Steps

The preferential issue has been structured in compliance with Sections 62(1)(c) and 42 of the Companies Act, 2013, and SEBI regulations. For the convertible warrants, investors will pay 25% of the warrant price at allotment, with the remaining 75% payable upon conversion to equity shares. The newly issued shares will rank pari passu with existing equity shares and will be listed on the stock exchange subject to necessary approvals.

This comprehensive capital raising initiative positions Banganga Paper Industries Limited for its next phase of growth under its new corporate identity, with the company having successfully transitioned from its former identity as Inertia Steel Limited.