Bazel International Ltd, a registered non-banking financial company, held its 43rd Annual General Meeting (AGM) on September 29, 2025, where shareholders approved several significant resolutions. The meeting, which took place at the company's registered office in New Delhi, saw the passage of both ordinary and special business items.

New Appointments and Re-appointments

Shareholders approved the appointment of M/S Meenu G. & Associates as the company's secretarial auditors for a five-year term, spanning from the financial year 2025-26 to 2029-30. The firm, known for its expertise in corporate laws and SEBI regulations, is set to conduct comprehensive secretarial audits for Bazel International.

In a move to strengthen its board, the company re-appointed Mr. Prithvi Raj Bhatt as an independent director for a second five-year term, effective from July 10, 2025, to July 9, 2030. Mr. Bhatt, a graduate with eight years of business experience, brings valuable insights in areas such as due diligence, compliance management, and corporate acquisitions.

Additionally, Mr. Chetan Kumar Joshi, a 32-year-old chartered accountant, was appointed as an independent director effective September 3, 2025. Mr. Joshi's appointment is expected to bring fresh perspectives and financial expertise to the board.

Equity Share Issuance

One of the key resolutions passed at the AGM was the approval for issuing up to 10,69,190 equity shares at Rs. 66.95 per share through preferential allotment. This move is aimed at converting outstanding unsecured loans into equity. The shares will be issued to Chaser Financial Services Private Limited and Panafic Industrials Limited at a price that includes a premium of Rs. 56.95, as determined by a registered valuer.

Other Resolutions

The AGM also saw the approval of several other resolutions, including:

1. Adoption of standalone and consolidated financial statements for the year ended March 31, 2025.
2. Re-appointment of Mr. Pankaj Dawar as a director.
3. Increase in authorized share capital and alteration of Clause V of the Memorandum of Association.
4. Ratification of loan and grant of option for conversion into equity shares under Section 62(3) of the Companies Act, 2013.

The meeting, chaired by Managing Director Mr. Pankaj Dawar, was attended by 68 members in person. The company had provided remote e-voting facilities to its shareholders prior to the AGM, ensuring wider participation in the decision-making process.

Bazel International continues to focus on operational excellence and service quality improvement as it moves forward with these strategic decisions approved by its shareholders.

Bazel International Ltd (BSE: BAZEL) has announced a significant development in its corporate leadership structure, with two of its key executives taking on additional roles at S.R Industries Limited. This move comes as part of a resolution plan approved by the National Company Law Tribunal (NCLT).

New Appointments

Mr. Pankaj Dawar, the Managing Director of Bazel International, and Mr. Manish Gupta, the company's Chief Financial Officer, have been appointed as Additional Non-Executive Directors on the board of S.R Industries Limited. The appointments were formalized during a Board of Directors meeting held on September 25, 2024.

Strategic Expertise

The newly appointed directors bring a wealth of experience to their roles at S.R Industries:

• Mr. Pankaj Dawar: As the Managing Director of Bazel International, Mr. Dawar contributes extensive knowledge in Business Management, Finance, Accounts, and Audit.

• Mr. Manish Gupta: In his capacity as CFO of Bazel International, Mr. Gupta offers specialized expertise in Finance, Accounts, and Audit.

NCLT-Approved Resolution Plan

These appointments are part of a broader resolution plan that has received approval from the NCLT. While the specifics of the resolution plan have not been disclosed, the involvement of Bazel International's top executives suggests a significant restructuring or support initiative for S.R Industries.

Implications for Both Companies

This strategic move could potentially lead to closer collaboration between Bazel International and S.R Industries. The infusion of experienced leadership from Bazel International may contribute to strengthening S.R Industries' corporate governance and financial management.

For Bazel International, this development represents an expansion of its influence and potentially opens up new strategic opportunities. Shareholders of both companies will likely be watching closely to see how these appointments impact the future direction and performance of S.R Industries.

As this situation unfolds, further details about the NCLT-approved resolution plan and its implications for both Bazel International and S.R Industries may emerge. Stakeholders are advised to stay tuned for any additional announcements or filings that could provide more context to this corporate development.