Sparkle Gold Rock Limited’s Board of Directors, in a meeting held on September 4, 2026, approved several key financial resolutions. These include a substantial increase in the company’s authorized share capital from ₹20,00,00,000 to ₹20,00,00,00,000, subject to shareholder approval. Additionally, the board approved an enhanced borrowing limit of up to ₹100 crore, also pending shareholder consent. The meeting also noted committee reconstitutions and the reappointment of the Managing Director.
Sparkle Gold Rock Board Convenes, Approves Key Financial Resolutions
Sparkle Gold Rock Limited (formerly Sree Jayalakshmi Autospin Limited) announced the outcomes of its Board of Directors meeting held on Friday, September 4, 2026. The meeting, which commenced at 12:00 PM and concluded at 12:45 PM, saw the approval of several significant resolutions impacting the company’s financial structure and governance.
Capital and Borrowing Limit Enhancements
A primary resolution passed by the Board was the approval for an increase in the company’s authorized share capital. The authorized capital is set to rise from the current ₹20,00,00,000 to a significantly higher ₹20,00,00,00,000. This increase is contingent upon receiving approval from the shareholders. Furthermore, the Board has approved an enhanced borrowing limit for the company, authorizing borrowings up to ₹100 crore. This measure is also subject to shareholder approval, indicating a strategic move to bolster financial flexibility.
Other Key Approvals and Reconstitutions
The Board also approved the draft notice for the Annual General Meeting (AGM) scheduled for September 30, 2026. The draft Directors’ Report and Annual Report for the financial year ended March 31, 2026, were also approved. In personnel matters, Mrs. Sarita Devi Sharma was re-appointed as the Managing Director upon retirement by rotation. The appointment of Ms. Durga Pallavi Tekumalla as a non-executive Independent Director was approved, along with the appointment of M/s Megha Khandelwal & Associates as scrutinizers for the upcoming AGM.
Additionally, the Board acknowledged the reconstitution of its committees. The Nomination and Remuneration Committee will now comprise Manuj Agarwal (Chairman), Manisha Godara, and Durga Pallavi Tekumalla. The Audit Committee will consist of Manuj Agarwal (Chairman), Manisha Godara, Durga Pallavi Tekumalla, and Lakshita Sharma. The Book Closure Date for the upcoming AGM has been set for September 24, 2026.
Source: BSE
