Ballarpur Industries Limited Conducts 79th Annual General Meeting; Adopts FY24 Financial Statements
May 11, 2026
Ballarpur Industries Limited held its 79th AGM on May 11, 2026, via VC/OAVM, chaired by Mr. Hardik Bharat Patel. Three ordinary resolutions were transacted, including adoption of audited financial statements for the financial year ended March 31, 2024, re-appointment of Mr. Parashiva Murthy B S as Non-Executive Non-Independent Director, and ratification of Cost Auditor remuneration. All resolutions were passed with the requisite majority. The Chairman highlighted the completion of the CIRP and the implementation of the Resolution Plan approved by the NCLT, Mumbai Bench.
Ballarpur Industries Limited convened its 79th Annual General Meeting (AGM) on Monday, May 11, 2026, via Video Conferencing / Other Audio-Visual Means (VC/OAVM), in accordance with the provisions of the Companies Act, 2013, and circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India. The meeting commenced at 1:05 P.M. (IST) and concluded at 1:26 P.M. (IST), with the deemed venue being the company's registered office at 602, 6th Floor, Boston House, Suren Road, Andheri (East), Mumbai – 400093.
Chairman's Address and Key Developments
Mr. Hardik Bharat Patel, Chairman & Whole-Time Director, presided over the meeting and welcomed members in attendance. He briefed members on significant corporate developments, including the completion of the Corporate Insolvency Resolution Process (CIRP) and the implementation of the approved Resolution Plan submitted by Finquest Financial Solutions Private Limited, as sanctioned by the Hon'ble NCLT, Mumbai Bench, vide order dated March 31, 2023. The Chairman also apprised members of the constitution and tenure of the Monitoring Committee, the takeover of the company by the Resolution Applicant, the subsequent appointment of the new Board of Directors, and efforts by the new management toward revival of operations and preparation of pending financial statements. He further noted that the Auditors' Report and Secretarial Audit Report contained certain observations and qualifications, which were duly explained in the Annual Report.
Board and Key Executives in Attendance
The following directors and key officials were present at the meeting:
Attendee: Designation Mr. Hardik Bharat Patel Chairman & Whole-Time Director Mr. Parashiva Murthy B S Non-Executive Director Mr. Alok Prakash Chief Executive Officer & Whole-Time Director Mr. Kulandaipaian Thangaraju Independent Director Mr. P. Swaminathan Independent Director Ms. Shweta Jain Independent Director Mr. Anil Manoharlal Mehta Chief Financial Officer Ms. Surbhi Dinesh Chachada Company Secretary and Compliance Officer Mr. Parag Hangekar, Partner – M/s. Batliboi & Purohit Statutory Auditors Mr. Viral Sanghavi – M/s. Viral Sanghavi & Associates Secretarial Auditor and Scrutinizer for e-voting
E-Voting Process
Ms. Surbhi Dinesh Chachada briefed members on the e-voting facility provided pursuant to Section 108 of the Companies Act, 2013, and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, through the NSDL platform. The company fixed May 04, 2026 as the cut-off date for determining eligible voters. Remote e-voting commenced at 9:00 A.M. (IST) on Wednesday, May 06, 2026, and concluded at 5:00 P.M. (IST) on Sunday, May 10, 2026. Mr. Viral Sanghavi was appointed as Scrutinizer to oversee the remote e-voting and e-voting process during the AGM in a fair and transparent manner.
Business Transacted
Three ordinary resolutions were placed before the members as set out in the AGM Notice:
Resolution No.: Description 1 Adoption of audited financial statements (including consolidated financial statements) for the financial year ended March 31, 2024, along with the Board of Directors' and auditors' reports thereon 2 Re-appointment of Mr. Parashiva Murthy B S (DIN: 00011584) as Non-Executive Non-Independent Director 3 Ratification of remuneration of Cost Auditors
All resolutions set out in the Notice were passed with the requisite majority through remote e-voting and electronic voting at the meeting.
Shareholder Queries and Closure
Ms. Surbhi Dinesh Chachada informed members that shareholders had been given the opportunity to submit queries via email ahead of the AGM. As the registered speaker shareholder did not join the meeting, members were requested to direct their queries to sectdiv@biltpaper.in . The Chairman thanked members for their continued cooperation and expressed gratitude to all stakeholders, employees, government authorities, and regulatory bodies before formally closing the meeting at 1:26 P.M. (IST). The voting results along with the Scrutinizer's Report are to be placed on the company's website and on the websites of BSE Limited, National Stock Exchange of India Limited, and NSDL, within the statutory time limits.
Ballarpur Industries Limited convened its 80th Annual General Meeting (AGM) on Monday, May 11, 2026, through Video Conferencing / Other Audio-Visual Means (VC/OAVM), with the deemed venue being the company's registered office at 602, 6th Floor, Boston House, Suren Road, Andheri (East), Mumbai – 400093. The meeting was held in compliance with the applicable provisions of the Companies Act, 2013, and the relevant circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India (SEBI). The AGM commenced at 2:03 P.M. (IST) and concluded at 2:28 P.M. (IST). The proceedings were disclosed to BSE Limited and National Stock Exchange of India Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Meeting Attendance and Presiding Officer
Mr. Hardik Bharat Patel, Chairman and Whole-Time Director, presided over the meeting. The following directors and key executives were present at the AGM:
Board of Directors:
Mr. Hardik Bharat Patel – Chairman & Whole-Time Director
Mr. Parashiva Murthy B S – Non-Executive Director
Mr. Alok Prakash – Chief Executive Officer & Whole-Time Director
Mr. Kulandaipaian Thangaraju – Independent Director
Mr. P. Swaminathan – Independent Director
Ms. Shweta Jain – Independent Director
Key Executives and Auditors:
Mr. Anil Manoharlal Mehta – Chief Financial Officer
Ms. Surbhi Dinesh Chachada – Company Secretary and Compliance Officer
Mr. Parag Hangekar, Partner – M/s. Batliboi & Purohit, Chartered Accountants, Statutory Auditors
Mr. Viral Sanghavi – Practicing Company Secretary, Proprietor, M/s. Viral Sanghavi & Associates, Secretarial Auditor and Scrutinizer for e-voting
Chairman's Address and Company Developments
In his address, Mr. Hardik Bharat Patel welcomed members and briefed them on key developments at the company. He highlighted the successful completion of the Corporate Insolvency Resolution Process (CIRP) and the implementation of the approved Resolution Plan submitted by Finquest Financial Solutions Private Limited, as approved by the Hon'ble National Company Law Tribunal vide order dated March 31, 2023. The Chairman informed members about the constitution and tenure of the Monitoring Committee, the takeover of the company by the Resolution Applicant, and the subsequent reconstitution of the Board of Directors. He further apprised members of the initiatives undertaken by the new management towards revival of the company's operations and preparation of pending financial statements. Notably, the Chairman informed members that the company has recommenced operations at its Shree Gopal Unit situated in Yamuna Nagar and has obtained the requisite approvals and clearances from the concerned regulatory authorities for commencement of operations. The Chairman also noted that the observations and qualifications contained in the Auditors' Report and Secretarial Audit Report had been appropriately explained in the Annual Report.
E-Voting Process
Ms. Surbhi Dinesh Chachada briefed members on the e-voting facility provided through the NSDL platform, pursuant to Section 108 of the Companies Act, 2013, and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Key details of the e-voting process are outlined below:
Parameter: Details Cut-off Date: May 04, 2026 Remote E-Voting Start: 9:00 A.M. (IST), Wednesday, May 06, 2026 Remote E-Voting End: 5:00 P.M. (IST), Sunday, May 10, 2026 Scrutinizer: Mr. Viral Sanghavi, M/s. Viral Sanghavi & Associates E-Voting Platform: NSDL
The company also provided the facility to vote through an electronic voting system during the meeting to members who participated and had not cast their votes through remote e-voting.
Business Transacted
The following ordinary and special businesses, as set out in the AGM notice, were transacted at the meeting:
Resolution No.: Description 1. Ordinary Resolution for adoption of audited financial statements (including consolidated financial statements) for the financial year ended March 31, 2025, and the reports of the Board of Directors and auditors thereon 2. Ordinary Resolution for re-appointment of Mr. Hardik Bharat Patel (DIN: 00590663) as Whole-Time Director of the Company 3. Ordinary Resolution for appointment of Statutory Auditors and to fix their remuneration 4. Ordinary Resolution for rectification of remuneration of Cost Auditors 5. Special Resolution for appointment of Ms. Shweta Jain (DIN: 07872968) as Non-Executive Independent Director of the Company 6. Ordinary Resolution for appointment of Secretarial Auditor and to fix their remuneration
All six resolutions set out in the AGM notice were passed with the requisite majority through the remote e-voting and electronic voting system available during the meeting.
Shareholder Queries and Closure
Ms. Surbhi Dinesh Chachada informed members that the company had provided shareholders the opportunity to submit queries via email ahead of the AGM. As the registered speaker shareholder did not join the meeting, members were requested to send their queries to sectdiv@biltpaper.in . The Chairman concluded the meeting by thanking members for their continued cooperation and support, and expressing gratitude to all stakeholders, employees, government authorities, and regulatory bodies. The voting results along with the Scrutinizer's Report are to be placed on the company's website and on the websites of BSE Limited, National Stock Exchange of India Limited, and NSDL, within the statutory time limits.
We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better.
Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians.
As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation.
We plan to change that - a technology-led and artificial intelligence enabled platform built for super traders and long term investors.
Disclaimer:
The data and information provided on this website is for general informational and research purposes only. While we strive to ensure that the content is accurate, up-to-date, and reliable, this platform utilizes artificial intelligence (AI) tools to generate, curate, and summarize information. As such, the content may occasionally contain errors, omissions, or outdated information. All users are therefore advised to cross verify the source of the data and information.
This website does not constitute professional, legal, financial, medical, or any other form of licensed advice. Users are encouraged to independently verify any information before relying on it, especially for decisions that may have legal, financial, or personal consequences.
The views, analyses, and summaries presented on this platform may be generated or assisted by AI and do not necessarily reflect the opinions of the website owners, operators, editors, or affiliates.
We make no warranties or representations, express or implied, regarding the completeness, accuracy, reliability, suitability, or availability of the information contained on this website. Any reliance you place on such information is strictly at your own risk.
This website may include links to third-party sources or content. We do not control or endorse the nature, accuracy, or availability of those external sites and are not responsible for any content or damages arising from their use.
By using this website, you acknowledge and agree that the use of AI-generated content involves inherent limitations, uncertainties and inaccuracies, and you accept full responsibility for how you interpret and use the information provided.
We reserve the right to modify, update, or remove content and this disclaimer at any time without prior notice.
Chairman's Address and Key Developments
Mr. Hardik Bharat Patel, Chairman & Whole-Time Director, presided over the meeting and welcomed members in attendance. He briefed members on significant corporate developments, including the completion of the Corporate Insolvency Resolution Process (CIRP) and the implementation of the approved Resolution Plan submitted by Finquest Financial Solutions Private Limited, as sanctioned by the Hon'ble NCLT, Mumbai Bench, vide order dated March 31, 2023. The Chairman also apprised members of the constitution and tenure of the Monitoring Committee, the takeover of the company by the Resolution Applicant, the subsequent appointment of the new Board of Directors, and efforts by the new management toward revival of operations and preparation of pending financial statements. He further noted that the Auditors' Report and Secretarial Audit Report contained certain observations and qualifications, which were duly explained in the Annual Report.
Board and Key Executives in Attendance
The following directors and key officials were present at the meeting:
Attendee: Designation Mr. Hardik Bharat Patel Chairman & Whole-Time Director Mr. Parashiva Murthy B S Non-Executive Director Mr. Alok Prakash Chief Executive Officer & Whole-Time Director Mr. Kulandaipaian Thangaraju Independent Director Mr. P. Swaminathan Independent Director Ms. Shweta Jain Independent Director Mr. Anil Manoharlal Mehta Chief Financial Officer Ms. Surbhi Dinesh Chachada Company Secretary and Compliance Officer Mr. Parag Hangekar, Partner – M/s. Batliboi & Purohit Statutory Auditors Mr. Viral Sanghavi – M/s. Viral Sanghavi & Associates Secretarial Auditor and Scrutinizer for e-voting
E-Voting Process
Ms. Surbhi Dinesh Chachada briefed members on the e-voting facility provided pursuant to Section 108 of the Companies Act, 2013, and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, through the NSDL platform. The company fixed May 04, 2026 as the cut-off date for determining eligible voters. Remote e-voting commenced at 9:00 A.M. (IST) on Wednesday, May 06, 2026, and concluded at 5:00 P.M. (IST) on Sunday, May 10, 2026. Mr. Viral Sanghavi was appointed as Scrutinizer to oversee the remote e-voting and e-voting process during the AGM in a fair and transparent manner.
Business Transacted
Three ordinary resolutions were placed before the members as set out in the AGM Notice:
Resolution No.: Description 1 Adoption of audited financial statements (including consolidated financial statements) for the financial year ended March 31, 2024, along with the Board of Directors' and auditors' reports thereon 2 Re-appointment of Mr. Parashiva Murthy B S (DIN: 00011584) as Non-Executive Non-Independent Director 3 Ratification of remuneration of Cost Auditors
All resolutions set out in the Notice were passed with the requisite majority through remote e-voting and electronic voting at the meeting.
Shareholder Queries and Closure
Ms. Surbhi Dinesh Chachada informed members that shareholders had been given the opportunity to submit queries via email ahead of the AGM. As the registered speaker shareholder did not join the meeting, members were requested to direct their queries to sectdiv@biltpaper.in . The Chairman thanked members for their continued cooperation and expressed gratitude to all stakeholders, employees, government authorities, and regulatory bodies before formally closing the meeting at 1:26 P.M. (IST). The voting results along with the Scrutinizer's Report are to be placed on the company's website and on the websites of BSE Limited, National Stock Exchange of India Limited, and NSDL, within the statutory time limits.
Ballarpur Industries Limited convened its 80th Annual General Meeting (AGM) on Monday, May 11, 2026, through Video Conferencing / Other Audio-Visual Means (VC/OAVM), with the deemed venue being the company's registered office at 602, 6th Floor, Boston House, Suren Road, Andheri (East), Mumbai – 400093. The meeting was held in compliance with the applicable provisions of the Companies Act, 2013, and the relevant circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India (SEBI). The AGM commenced at 2:03 P.M. (IST) and concluded at 2:28 P.M. (IST). The proceedings were disclosed to BSE Limited and National Stock Exchange of India Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Meeting Attendance and Presiding Officer
Mr. Hardik Bharat Patel, Chairman and Whole-Time Director, presided over the meeting. The following directors and key executives were present at the AGM:
Board of Directors:
Mr. Hardik Bharat Patel – Chairman & Whole-Time Director
Mr. Parashiva Murthy B S – Non-Executive Director
Mr. Alok Prakash – Chief Executive Officer & Whole-Time Director
Mr. Kulandaipaian Thangaraju – Independent Director
Mr. P. Swaminathan – Independent Director
Ms. Shweta Jain – Independent Director
Key Executives and Auditors:
Mr. Anil Manoharlal Mehta – Chief Financial Officer
Ms. Surbhi Dinesh Chachada – Company Secretary and Compliance Officer
Mr. Parag Hangekar, Partner – M/s. Batliboi & Purohit, Chartered Accountants, Statutory Auditors
Mr. Viral Sanghavi – Practicing Company Secretary, Proprietor, M/s. Viral Sanghavi & Associates, Secretarial Auditor and Scrutinizer for e-voting
Chairman's Address and Company Developments
In his address, Mr. Hardik Bharat Patel welcomed members and briefed them on key developments at the company. He highlighted the successful completion of the Corporate Insolvency Resolution Process (CIRP) and the implementation of the approved Resolution Plan submitted by Finquest Financial Solutions Private Limited, as approved by the Hon'ble National Company Law Tribunal vide order dated March 31, 2023. The Chairman informed members about the constitution and tenure of the Monitoring Committee, the takeover of the company by the Resolution Applicant, and the subsequent reconstitution of the Board of Directors. He further apprised members of the initiatives undertaken by the new management towards revival of the company's operations and preparation of pending financial statements. Notably, the Chairman informed members that the company has recommenced operations at its Shree Gopal Unit situated in Yamuna Nagar and has obtained the requisite approvals and clearances from the concerned regulatory authorities for commencement of operations. The Chairman also noted that the observations and qualifications contained in the Auditors' Report and Secretarial Audit Report had been appropriately explained in the Annual Report.
E-Voting Process
Ms. Surbhi Dinesh Chachada briefed members on the e-voting facility provided through the NSDL platform, pursuant to Section 108 of the Companies Act, 2013, and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Key details of the e-voting process are outlined below:
Parameter: Details Cut-off Date: May 04, 2026 Remote E-Voting Start: 9:00 A.M. (IST), Wednesday, May 06, 2026 Remote E-Voting End: 5:00 P.M. (IST), Sunday, May 10, 2026 Scrutinizer: Mr. Viral Sanghavi, M/s. Viral Sanghavi & Associates E-Voting Platform: NSDL
The company also provided the facility to vote through an electronic voting system during the meeting to members who participated and had not cast their votes through remote e-voting.
Business Transacted
The following ordinary and special businesses, as set out in the AGM notice, were transacted at the meeting:
Resolution No.: Description 1. Ordinary Resolution for adoption of audited financial statements (including consolidated financial statements) for the financial year ended March 31, 2025, and the reports of the Board of Directors and auditors thereon 2. Ordinary Resolution for re-appointment of Mr. Hardik Bharat Patel (DIN: 00590663) as Whole-Time Director of the Company 3. Ordinary Resolution for appointment of Statutory Auditors and to fix their remuneration 4. Ordinary Resolution for rectification of remuneration of Cost Auditors 5. Special Resolution for appointment of Ms. Shweta Jain (DIN: 07872968) as Non-Executive Independent Director of the Company 6. Ordinary Resolution for appointment of Secretarial Auditor and to fix their remuneration
All six resolutions set out in the AGM notice were passed with the requisite majority through the remote e-voting and electronic voting system available during the meeting.
Shareholder Queries and Closure
Ms. Surbhi Dinesh Chachada informed members that the company had provided shareholders the opportunity to submit queries via email ahead of the AGM. As the registered speaker shareholder did not join the meeting, members were requested to send their queries to sectdiv@biltpaper.in . The Chairman concluded the meeting by thanking members for their continued cooperation and support, and expressing gratitude to all stakeholders, employees, government authorities, and regulatory bodies. The voting results along with the Scrutinizer's Report are to be placed on the company's website and on the websites of BSE Limited, National Stock Exchange of India Limited, and NSDL, within the statutory time limits.
We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better.
Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians.
As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation.
We plan to change that - a technology-led and artificial intelligence enabled platform built for super traders and long term investors.
Disclaimer:
The data and information provided on this website is for general informational and research purposes only. While we strive to ensure that the content is accurate, up-to-date, and reliable, this platform utilizes artificial intelligence (AI) tools to generate, curate, and summarize information. As such, the content may occasionally contain errors, omissions, or outdated information. All users are therefore advised to cross verify the source of the data and information.
This website does not constitute professional, legal, financial, medical, or any other form of licensed advice. Users are encouraged to independently verify any information before relying on it, especially for decisions that may have legal, financial, or personal consequences.
The views, analyses, and summaries presented on this platform may be generated or assisted by AI and do not necessarily reflect the opinions of the website owners, operators, editors, or affiliates.
We make no warranties or representations, express or implied, regarding the completeness, accuracy, reliability, suitability, or availability of the information contained on this website. Any reliance you place on such information is strictly at your own risk.
This website may include links to third-party sources or content. We do not control or endorse the nature, accuracy, or availability of those external sites and are not responsible for any content or damages arising from their use.
By using this website, you acknowledge and agree that the use of AI-generated content involves inherent limitations, uncertainties and inaccuracies, and you accept full responsibility for how you interpret and use the information provided.
We reserve the right to modify, update, or remove content and this disclaimer at any time without prior notice.