Manglam Global Completes Major Board Meeting: Approves Capital Increase, New Auditor Appointment and Financial Facilities

Manglam Global Completes Major Board Meeting: Approves Capital Increase, New Auditor Appointment and Financial Facilities​

Manglam Global Corporations Ltd., formerly Kshitij Investments Limited, concluded its Board of Directors meeting on June 11, 2026. The meeting saw several key corporate decisions, including the appointment of a new Statutory Auditor, approval for an increase in authorized share capital, and ratification of significant financing agreements and related party transactions.

The board approved the Annual Report and the notice for the upcoming Annual General Meeting (AGM) for the financial year 2025-26. The AGM has been scheduled to take place on Wednesday, July 8, 2026, utilizing Video Conferencing (VC) or Other Audio Visual Means (OAVM). To manage e-voting at the AGM, M/S Ravi Patidar and Associates, a Practising Company Secretary, was appointed as the scrutinizer.

Auditor Appointment and Financial Strength Boost​

A key decision taken during the meeting was addressing the casual vacancy created by the resignation of M/s D M K H & Co., Chartered Accountants, which occurred on June 8, 2026. The Board approved the appointment of M/s A K B Jain & Co., Chartered Accountants (Firm Registration No. 003904C) to fill this vacancy, effective from June 11, 2026, until the conclusion of the ensuing AGM. Furthermore, the board approved the appointment of M/s A K B Jain & Co. as Statutory Auditors for a term of five consecutive years, commencing after the AGM and running until the Annual General Meeting in 2031, subject to shareholder approval.

In terms of financial restructuring, the Board approved an increase in the Authorized Share Capital (ASC) of the Company. The ASC was increased from ₹15,00,00,000 (Rupees Fifteen Crore Only), comprising 1,50,00,000 Equity Shares of ₹10 each, to ₹20,00,00,000 (Rupees Twenty Crore Only), divided into 2,00,00,000 Equity Shares of ₹10 each.

The company also approved several financial arrangements:

• It sanctioned the availment of a Term Loan amounting to ₹92,00,000 from State Bank of India (SBI) under the Emergency Credit Line Guarantee Scheme (ECLGS 5.0).
• The Board considered and approved the availing of Warehouse Receipt Finance (WHR) facilities up to ₹10,00,00,000 from Central Bank of India and up to ₹15,00,00,000 from Aryadhan Financial Solutions Private Limited.
• The company also approved granting loans or providing guarantees/securities in connection with loans availed by entities under Section 185 of the Companies Act, 2013, for an aggregate amount not exceeding ₹200 Crores (Rupees Two Hundred Crores Only).

Related Party Transactions and Subsidiary Approval​

The Board reviewed and approved various related party transaction limits. For different transactions involving Agri Commodities, the maximum limit was set at ₹50,00,00,000 per separate concern for Commission/Brokerage and Purchaser roles, while the limit for the Sale of various Agri Commodities stood at ₹250,00,00,000 each. The limit for Availing/Rendering Manufacturing/Processing Services was set at ₹100,00,00,000 per separate concern.

The Board noted a related party transaction involving the purchase of commodities and products from Shri Satguru Agromills Private Limited, aggregating to ₹7,84,12,180.

In matters concerning subsidiaries, the Board approved the proposal for an increase in the Authorized Share Capital of Shri Krishnam Industries Private Limited (a Wholly Owned Subsidiary). The ASC for this subsidiary was increased from ₹70,00,000 (Rupees Seventy Lakhs Only) divided into 7,00,000 Equity Shares of ₹10 each to ₹10,00,00,000 (Rupees Ten Crores Only), divided into 1,00,00,000 Equity Shares of ₹10 each.

The meeting commenced at 4:00 PM and concluded at 6:30 PM.

Stock Price Movement​

Manglam Global Corporations Ltd settled at ₹14.03 on Tuesday, marking a significant gain of 4.94% for the shares. However, intraday activity was completely flat, as the stock never deviated from its opening price throughout the session.