Milestone Furniture Board Approves OCD Conversion, Capital Hike, Auditor Change
Milestone Furniture Limited's Board of Directors met on September 17, 2026, approving several key corporate actions. The board acknowledged conversion notices for Unlisted Secured Optionally Convertible Debentures (OCDs) totaling ₹5,74,60,000, deferring allotment pending stock exchange approval. Authorised share capital is proposed to increase from ₹10 Crores to ₹60 Crores, subject to shareholder consent. The company also accepted the resignation of its statutory auditor, M/s. R. Daga & Company, and appointed M/s. Gupta Rajesh & Associates to fill the casual vacancy. Additionally, the board approved an application for an extension to convene the AGM for FY 2025-26 and rescinded a prior resolution regarding opening a branch office in Khar West, Mumbai. The 'Milestone Furniture Limited - Employee Stock Option Scheme 2026' (ESOP 2026) was also approved, pending shareholder approval.
Key Highlights
- OCD conversion notices for ₹5.74 Cr taken on record; allotment deferred.
- Authorised share capital to increase from ₹10 Cr to ₹60 Cr.
- Statutory auditor M/s. R. Daga & Company resigned; M/s. Gupta Rajesh & Associates appointed.
- Application for AGM extension for FY 2025-26 approved.
- ESOP 2026 scheme approved, subject to shareholder nod.
Price Impact
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