Joint Venture13 Feb 2026, 04:25 pm
Paramount Cosmetics India Ltd Approves Amendment of Articles of Association and Related Party Transaction
AI Summary
Paramount Cosmetics India Ltd has announced the approval of amendment of Articles of Association and a related party transaction at the Extraordinary General Meeting (EGM) held on 13th February 2026. The amendment to the Articles of Association aims to ensure continuity and stability in management by exempting the Managing Director from retirement by rotation. The related party transaction involves the sale of fixed assets to Paramount Kum Kum Private. The Audit Committee and Board Meeting have reviewed and granted their approvals for both the amendment and the transaction.
Key Highlights
- Paramount Cosmetics India Ltd has approved the amendment of Articles of Association to exempt the Managing Director from retirement by rotation.
- The company has also approved a related party transaction involving the sale of fixed assets to Paramount Kum Kum Private.
- The Audit Committee and Board Meeting have reviewed and granted their approvals for both the amendment and the transaction.
- The sale of fixed assets includes the company’s land, building, and plant & machinery situated at No. 124/3B, Chennapalli, Shoolagiri Union, Hosur Taluk, Krishnagiri District, Tamil Nadu - 635117.
- The transaction is expected to improve the company's cash flow and working capital management.
Price Impact
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