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Gala Global Products Limited has called an Extraordinary General Meeting on May 7, 2026. Shareholders will vote on a special resolution to authorize the Board to initiate insolvency resolution processes (PPIRP/CIRP) under the IBC, 2016, due to severe financial distress and liabilities exceeding asset value.
Gala Global Products Limited's Board has approved convening an Extraordinary General Meeting to seek shareholder approval for initiating insolvency proceedings under the IBC, 2016. This decision follows a review of the company's financial position, where liabilities exceed assets. The board aims to protect stakeholder interests and preserve the company's value as a going concern.
Gala Global Products Limited's Board approved seeking a shareholder mandate via an Extraordinary General Meeting to initiate insolvency proceedings (CIRP/PPIRP) under the IBC. The decision follows a review of the company's financial position where total liabilities exceed asset value.
Shareholders of Gala Global Products Ltd approved increasing the authorized share capital from ₹30.30 Crore to ₹53.00 Crore. This ₹22.70 Crore expansion provides the company greater flexibility for future fund-raising and strategic growth initiatives.
Gala Global Products Limited announced that shareholders approved an increase in the company's authorized share capital during the EGM held on April 4, 2026. The ordinary resolution was passed with a 99.92% majority via remote e-voting and e-voting at the meeting. This move provides the company with future fund-raising and expansion flexibility.
Gala Global Products Limited conducted an Extra-Ordinary General Meeting on April 4, 2026. Shareholders considered a resolution to increase the company's authorized share capital and amend the Memorandum of Association. The meeting was held via video conferencing with 32 members present, and voting results will be declared separately.
Gala Global Products Ltd reported a net loss of ₹0.4 Cr for Q3 FY26.