SPL Industries Limited , a company listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), has provided an update on its ongoing legal proceedings in the Delhi High Court. The case, which is being heard under W.P.(C) 2357/2025, has seen recent developments that may be of interest to stakeholders.

Key Developments

1. Adjournment: The Delhi High Court has adjourned the hearing to November 24, 2025. This new date falls under the category of "for Admission" matters.

2. Counter-Affidavit: The court has granted the respondents (No. 1 to 4) one week to file their counter-affidavit. This extension was provided at the request of the learned counsel representing these respondents.

3. Notice to Respondent No. 5: The court has directed that notice, along with a copy of the petition, be served to respondent No. 5 through the Registrar of Companies, Mumbai. This is to be done at the respondent's registered office.

4. Presumption of Non-Contest: The court has stated that if respondent No. 5 fails to appear despite proper notice, it will be presumed that they do not wish to contest the petition.

5. Interim Order: The existing interim order will remain in effect until the next hearing date.

Case Details

SPL Industries Limited has made this disclosure in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's representatives, including Vishal Srivastava, the Company Secretary & Compliance Officer, have ensured timely communication of these developments to the stock exchanges.

Investors and stakeholders are advised to keep track of further updates on this legal proceeding, as its outcome may have implications for the company's operations or financial standing. However, it's important to note that legal proceedings can be complex and lengthy, and the final resolution may take time.

SPL Industries Limited , a prominent player in the textile industry, held its 34th Annual General Meeting (AGM) on September 29, where shareholders approved several significant resolutions that could shape the company's future growth trajectory.

Borrowing Limit Maintained

The shareholders reaffirmed their confidence in the company's financial management by approving the maintenance of the borrowing limit at Rs 100 crore under Section 180(1)(c) of the Companies Act, 2013. This decision allows the Board of Directors to borrow funds as needed, providing financial flexibility for the company's operations and expansion plans.

Expansion into Real Estate

In a strategic move to diversify its business portfolio, SPL Industries received shareholder approval to amend its Memorandum of Association, adding real estate as a new business vertical. This expansion allows the company to engage in comprehensive real estate activities, including:

• Acquiring, developing, and constructing properties
• Managing residential and commercial complexes
• Developing IT parks and infrastructure facilities
• Operating in both domestic and international markets

This diversification could open up new revenue streams for the company and potentially reduce its dependence on the textile sector.

Financial Authorizations

Shareholders also approved several financial authorizations, demonstrating their trust in the company's management:

• Investment and loan limits of Rs 250 crore under Section 186 of the Companies Act
• Loan limits of Rs 100 crore under Section 185 of the Companies Act
• Authorization for material related party transactions until the 2026 AGM

Appointment of Secretarial Auditor

M/s. Agarwal S. & Associates, a firm with over 20 years of experience in conducting audits for leading Indian companies, including BSE 100 companies and Central Public Sector Enterprises, was appointed as the Secretarial Auditor for five consecutive years from FY 2025-26 to FY 2029-30.

Voting Results

The resolutions were passed with overwhelming majority, indicating strong shareholder support for the company's strategic decisions:

The strong approval rates across all resolutions reflect the shareholders' confidence in SPL Industries' growth strategy and governance practices.

These decisions, particularly the expansion into real estate and the maintained borrowing capacity, position SPL Industries for potential growth and diversification in the coming years. The company's move to broaden its business scope while maintaining financial prudence could be seen as a balanced approach to long-term value creation for its shareholders.