Manglam Global Corporations Limited Acquires Subsidiaries, Approves Borrowing Powers
Kshitij Investments Ltd., now operating as Manglam Global Corporations Limited, announced several key decisions following a board meeting held on March 25, 2026.The board approved the draft Notice of an Extraordinary General Meeting (EGM) of shareholders, scheduled for April 27, 2026, at 4:00 P.M. via video conference/other audio visual means. The EGM will address related party transactions and other matters. Ravi Patidar and Associates, Practicing Company Secretaries, has been appointed as the Scrutinizer for the remote e-voting and e-voting during the EGM.
The board approved material related party transaction limits with several entities, including Manglam Food Products Private Limited, Shri Krishnam Industries Private Limited, Shri Krishnam Developers Private Limited, Jai Trading Co, and Shri Satguru Agromills Private Limited. The transaction limits, as detailed in Annexure-I, include commissions, brokerage, acting as purchaser of agri commodities, sales of agri commodities, manufacturing services, warehousing and storage services, purchase of commodities and products, borrowing, and giving of loans and advances.
The board approved borrowing powers for the company up to ₹200 Crores, subject to shareholder approval.
Manglam Global Corporations Limited also approved the acquisition of 100% of the equity share capital of Shri Krishnam Industries Private Limited and Manglam Food Products Private Limited from their existing shareholders. Following the acquisitions, both entities will become wholly-owned subsidiaries.
The board also approved the terms and conditions for the appointment of Independent Directors and adopted several company policies, including a Policy for determining 'Material' Subsidiaries, an Archival Policy, and a Dividend Distribution Policy. Additionally, the board approved the closure of a bank account held with Kotak Mahindra Bank, Mumbai - Nariman Point Branch.
Related Party Transactions Limits
| Sr. | Nature of Transaction | Name of Related Party(ies) | Nature of Relationship | Maximum Transaction Limit |
|---|---|---|---|---|
| 1 | Commission / Brokerage and acting as Purchaser of various Agri Commodities | 1. Manglam Food Products Private Limited 2. Shri Krishnam Industries Private Limited 3. Shri Krishnam Developers Private Limited 4. Jai Trading Co (Proprietorship Firm) (Promoters Father is Proprietor Concern) 5. Shri Satguru Agromills Private Limited | Related Party by virtue of common directorship and/or common shareholding | ₹50,00,00,000 each, for separate concern |
| 2 | Sale of various Agri Commodities | 1. Manglam Food Products Private Limited 2. Shri Krishnam Industries Private Limited 3. Shri Krishnam Developers Private Limited 4. Jai Trading Co (Proprietorship Firm) (Promoters Father is Proprietor Concern) 5. Shri Satguru Agromills Private Limited | Related Party by virtue of common directorship and/or common shareholding | ₹250,00,00,000 each, for separate concern |
| 3 | Availing / Rendering of Manufacturing / Processing Services | 1. Manglam Food Products Private Limited 2. Shri Krishnam Industries Private Limited 3. Shri Krishnam Developers Private Limited 4. Jai Trading Co (Proprietorship Firm) (Promoters Father is Proprietor Concern) 5. Shri Satguru Agromills Private Limited | Related Party by virtue of common directorship and/or common shareholding | ₹100,00,00,000 Each for separate concern |
| 4 | Availing of Warehousing and Storage Services of various Agri Commodities | 1. Shri Krishnam Agri Infra (Partnership Firm) 2. Shri Krishnam Logistics (Partnership Firm) | Related Party by virtue of common partnership / directorship | ₹10,00,00,000 Each for separate concern |
| 5 | Purchase of Commodities and Products | 1. Manglam Food Products Private Limited 2. Shri Krishnam Industries Private Limited 3. Shri Krishnam Developers Private Limited 4. Jai Trading Co (Proprietorship Firm) (Promoters Father is Proprietor Concern) 5. Shri Satguru Agromills Private Limited | Related Party by virtue of common directorship and/or common shareholding | ₹250,00,00,000 Each for separate concern |
| 6 | Borrowing / Availing of Loans and Advances | 1. Manglam Food Products Private Limited 2. Shri Krishnam Industries Private Limited 3. Shri Krishnam Developers Private Limited 4. Jai Trading Co (Proprietorship Firm) 5. Shri Satguru Agromills Private Limited 6. Directors of the Company 7. Rohit Agrawal HUF 8. Rahul Agrawal HUF 9. Chandrasekhar Agrawal HUF 10. Chandrasekhar Agrawal (Father) 11. Mamta Agrawal (Mother) 12. Priyanka Agrawal (w/o Rohit Agrawal) 13. Priyanka Agrawal (w/o Rahul Agrawal) | Companies: Related Party by virtue of common directorship and/or common shareholding HUFs &Individuals: Director's HUF / Relatives of Directors/ Director's Relative's HUF -Related Party | Aggregate limit not exceeding ₹200,00,00,000 across all parties [within limits u/s 180(1)(c)] |
| 7 | Giving of Loans and Advances | 1. Manglam Food Products Private Limited 2. Shri Krishnam Industries Private Limited 3. Shri Krishnam Developers Private Limited 4. Jai Trading Co (Proprietorship Firm) 5. Shri Satguru Agromills Private Limited 6. Directors of the Company 7. Rohit Agrawal HUF 8. Rahul Agrawal HUF 9. Chandrasekhar Agrawal HUF 10. Chandrasekhar Agrawal (Father) 11. Mamta Agrawal (Mother) 12. Priyanka Agrawal (w/o Rohit Agrawal) 13. Priyanka Agrawal (w/o Rahul Agrawal) | Companies: Related Party by virtue of common directorship and/or common shareholding HUFs &Individuals: Director's HUF / Relatives of Directors/ Director's Relative's HUF -Related Party | Aggregate limit not exceeding ₹200,00,00,000 across all parties under this head [within limits u/s 186] |
| 8 | Acquisition of 100% Equity Shares (Share Purchase -RPT) | 1. Shri Krishnam Industries Private Limited 2. Manglam Food Products Private Limited | Related Party by virtue of common directorship and common shareholding | As per consideration determined by the Board (arm's length basis) |
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