Gala Global Board to seek shareholder nod for potential IBC/PPIRP

The Board of Directors of Gala Global Products Ltd, at its meeting on April 14, 2026, approved seeking an enabling mandate from shareholders to potentially initiate the Corporate Insolvency Resolution Process (CIRP) or Pre-packaged Insolvency Resolution Process (PPIRP) under the Insolvency and Bankruptcy Code, 2016. This decision was made because the company's total liabilities significantly exceed the realizable value of its assets, aiming to protect stakeholders and preserve company value. An Extraordinary General Meeting (EGM) will be convened to obtain this shareholder approval.