EGM summary: preferential equity issue and Section 186 limit approval among 2 special resolutions
Bharat Parenterals held an Extra Ordinary General Meeting through video conferencing on Friday, October 23, 2026, from 11:30 A.M. to 11:43 A.M.
By ScoutQuest · · 2 min read
- EGM Date and Time
- Friday, October 23, 2026, from 11:30 A.M. to 11:43 A.M.
- Resolutions Placed
- 2 items placed before members for approval as Special Resolutions
- Members Attended
- 28 members attended; the requisite quorum was present
What the update covers
This is the Company's summary of the proceedings of its Extra Ordinary General Meeting (EGM) held on Friday, October 23, 2026. The meeting was held through video conferencing and other audio-visual means, began at 11:30 A.M. and was declared closed at 11:43 A.M. The document carries a note that it does not constitute the minutes of the proceedings of the EGM.
The two resolutions placed before members
- Issuance of equity shares of the Company on a preferential basis — a Special Resolution.
- Approval for making investments, giving loans, guarantees and providing security in excess of the limits specified under Section 186(2) of the Companies Act, 2013 — a Special Resolution.
The Chairman, Mr. Bharatkumar Desai, briefed members on the key synopsis of the fund raising and investment into subsidiaries, the objects and rationale of the proposed issue, time-lines and statutory processes.
Who attended
- The requisite quorum was present and the meeting was declared to be in order.
- Total number of members present at the meeting: 28 (Twenty-Eight).
- Directors present included Mr. Bharatkumar Desai (Chairman and Managing Director), Mr. Hemang Shah (Executive Director), Mr. Shaileshkumar Ghabhawala, Mrs. Zankhana Sheth (Independent Directors) and Mr. Alkesh Shah (Non-Executive Non-Independent Director).
- Key managerial personnel, the Chief Financial Officer and the Company Secretary and Compliance Officer, were present along with the Cost Auditor, Secretarial Auditor cum Scrutinizer, Internal Auditor and a representative of the Statutory Auditors.
- As the meeting was held through video conferencing, physical attendance of members was dispensed with and the facility for appointment of proxy was not available.
Voting and result timeline
- Remote e-voting was open from 20th October, 2026 at 09:00 am and concluded on 22nd October, 2026 at 05:00 pm.
- Members present who had not already voted through remote e-voting could vote during the EGM. The NSDL platform for e-voting was to remain open for 15 minutes after the conclusion of the meeting.
- The results of remote e-voting and e-voting during the EGM were to be declared and simultaneously put on the Company's website within two working days from the date of the EGM.
- Mr. Jigar Trivedi, Independent Practising Company Secretary, Ahmedabad, was appointed as the Scrutinizer by the Board for scrutinising the remote e-voting and e-voting process.
Why these items matter to shareholders
A preferential issue of equity shares changes the share capital base and brings in new shareholders at a price and terms set out in the EGM notice, so existing holders typically track the dilution and the use of the funds raised. The Section 186(2) approval widens the Board's headroom to extend loans, give guarantees, provide security or make investments beyond the statutory limits, which is relevant to how the Company funds its subsidiaries and group entities. The briefings covered the rationale and objects of the proposed issue, which is what the shareholder vote was on.
Also from Bharat Parenterals
Shareholders approve preferential share issue and higher Section 186(2) limits
24 Oct 2026
Bharat Parenterals schedules Q2 & H1FY27 earnings conference call for October 30, 2026
24 Oct 2026
Board meeting on October 29 to consider and approve September quarter and half year results
24 Oct 2026
More numbers
- Total number of members present at the EGM28 (Twenty-Eight)
- Items placed before members for approval2 Items
- NSDL e-voting platform open after conclusion of meeting15 minutes
- Period to declare and publish e-voting resultstwo working days
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