Gala Global Products Limited has scheduled its 1st/2025-26 Extraordinary General Meeting on April 4, 2026, at 11:30 AM through video conferencing to seek shareholder approval for the previously announced authorized share capital increase. The company's Board of Directors had earlier approved the capital restructuring proposal on March 7, 2026, which now requires formal shareholder consent.

EGM Details and Voting Schedule

The extraordinary general meeting will be conducted through Video Conferencing/Other Audio Visual Means (OAVM) in compliance with applicable regulatory requirements. The company has established a comprehensive e-voting framework to facilitate shareholder participation.

Authorized Share Capital Restructuring

The primary agenda involves increasing the company's authorized share capital from Rs. 30,30,00,000 to Rs. 53,00,00,000, representing a substantial enhancement in the company's capital structure. This proposal involves creating additional equity shares while maintaining the existing face value.

The newly created 4,54,00,000 equity shares of Rs. 5 each will rank pari passu in all respects with existing equity shares, ensuring equal rights for all shareholders.

Memorandum Amendment and Regulatory Compliance

The capital increase necessitates amendments to Clause V of the company's Memorandum of Association. The proposed new clause will state: "The Authorized Share Capital of the Company is Rs 53,00,00,000/- (Rupees Fifty-Three Crore Only) divided into 10,60,00,000 (Ten Crore Sixty Lakhs) Equity Shares of Rs. 5/- (Rupees five Only)."

The company has submitted the EGM notice to BSE Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice, signed by Managing Director Prahlad Kumar Agarwal, ensures full regulatory compliance.

E-Voting and Participation Guidelines

Shareholders can participate through multiple channels, including NSDL's e-voting platform and direct demat account access. The company has partnered with NSDL to provide comprehensive e-voting facilities, with detailed login procedures available for both individual and institutional shareholders.

The meeting will accommodate 1000 members on a first-come, first-served basis, with unrestricted access for large shareholders, promoters, institutional investors, and key management personnel. Vishal Mulchandbhai Gala, Director (DIN: 00692090), will serve as the meeting speaker.

Strategic Context and Background

The board's decision reflects the company's strategic focus on strengthening its financial foundation and creating flexibility for future growth initiatives. The company operates from its registered office in Ahmedabad, Gujarat, with branch offices across Gujarat, Andhra Pradesh, Telangana, Uttar Pradesh, and West Bengal, positioning it for expanded operations across multiple states.

GALA Global Products Limited has paid a total fine of ₹22,420 to BSE Limited for non-compliance with SEBI listing regulations. The company faced penalties for delayed submissions of mandatory regulatory reports for the quarter ended December 2025.

Regulatory Non-Compliance Details

The company was penalized for violations under two specific regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. BSE issued notices on February 20, 2026 and February 27, 2026, highlighting the non-compliance issues.

Board Response and Corrective Measures

The board of directors addressed the non-compliance issues during their meeting held on March 7, 2026. The board noted that the delay in filing both the Statement of Shareholder Complaints and the Corporate Governance Report was due to inadvertent oversight by the team. According to the board's statement, the reports were prepared and ready internally, but the formal submission was missed by a marginal period.

The board characterized this as a one-time procedural delay that does not reflect the underlying governance standards of the company. To prevent future recurrence, the board has mandated the implementation of a Compliance Dashboard.

Regulatory Framework and Consequences

The fines were levied under SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, which prescribes penal actions for non-compliance with listing obligations. BSE had warned that failure to pay the fines within 15 days could result in freezing of the entire shareholding of the promoter in the entity.

The exchange also cautioned that second consecutive quarter non-compliance for certain regulations could result in the company being transferred to the Z group and becoming liable for suspension of trading of its equity shares.

Payment and Compliance Status

The company has already remitted the full fine amount of ₹22,420 to BSE's designated virtual bank account. The board reaffirmed its commitment to maintaining the highest standards of corporate governance and ensuring future compliance with all regulatory requirements.