Milestone Furniture Board Approves OCD Conversion, Terminates Acquisition Talks
Milestone Furniture Limited's Board of Directors met on October 23, 2026. The board took note of conversion notices for Unlisted Secured Optionally Convertible Debentures (OCDs) aggregating ₹5,74,60,000 (₹5.75 Crore) into equity shares. They also resolved to seek post-facto in-principle approval from the stock exchange due to an inadvertent omission in obtaining prior approval. The board terminated negotiations for the proposed acquisition of equity shares in UMT Infra Projects Private Limited due to a failure to agree on commercial terms. Additionally, the resignation of Mr. Abhishek Pokharna as Company Secretary & Compliance Officer was accepted, and Ms. Navjeet Kaur was appointed as Scrutinizer for the upcoming 12th Annual General Meeting.
Key Highlights
- Board noted OCD conversion notices totaling ₹5.75 Crore.
- Seeking post-facto approval for OCD conversion due to regulatory oversight.
- Acquisition talks with UMT Infra Projects terminated.
- Company Secretary & Compliance Officer resigned.
- Scrutinizer appointed for the 12th AGM.
Price Impact
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