Company Profile

Inter alia, approved:- 1. Approval of the revised cost of Jagriti Project: The Company through its earlier disclosures has informed regarding the ?Jagriti Project? envisaging the expansion of the paper manufacturing plant by setting up a 1 no?s of a new paper machine (i.e. PM-4) with the installed capacity of 100 TPD, increase in the installed capacity of one of the 3 existing paper machines (i.e. PM-3) from 70 TPD to 80 TPD, increase in the capacity of pulp mill from the current 130 TPD to 180 TPD and installation of a new 12 MW to 15 MW power plant in addition to the currently installed 6 MW and 2.5 MW plants at the factory at the Ayodhya Plant. The Board has now considered and approved the revised cost of ?Jagriti Project? i.e. Rs. 675 crores against the previously approved cost of Rs. 550 crores which is also recommended by the Audit Committee. The expansion is expected to be completed by the middle of the year 2026. 2. Merger of Pakka Impact Limited into Pakka Limited: In line with the clutter-free business philosophy, the Board has considered and instructed to prepare a scheme of Merger of Pakka Impact Limited (CIN: U74110UP2014PLC062982), a wholly owned subsidiary company into Pakka Limited (CIN: L24231UP1981PLC005294) in terms of the provisions of Section 230-232 of the Companies Act, 2013 and place it before the Audit Committee and Board for their approval. The Board has also considered other related matters with regard to the appointment of Merchant Bankers, Registered Valuers, Lawyers etc. The detailed disclosure as per the requirement of Regulation 30 of the SEBI Listing Regulations read along with SEBI circular CIR/CFD/CMD/4/2015 dated September 9, 2015, will be submitted subsequent to the approval of scheme by the Board. 3. Completion of tenure of Mr. Atul Kumar Gupta (DIN: 01734070) as an Independent Director: Pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (?SEBI Listing Regulations?), the Board noted that the second and final term of Mr. Atul Kumar Gupta (DIN: 01734070) as an Independent Director shall come to an end w.e.f. the close of business hours on 31st March, 2024. Mr. Atul Kumar Gupta is also Chairman of Audit Committee. The composition of the Board shall remain in compliance with applicable provisions of the Companies Act, 2013 and SEBI Listing regulations. The Board of Directors and the Management of the Company expressed deep appreciation and gratitude to Mr. Atul Kumar Gupta for his extensive contribution and stewardship. 4. Completion of tenure of Dr. Indroneel Banerjee (DIN: 06404397) as an Independent Director: Pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (?SEBI Listing Regulations?), the Board noted that the second and final tenure of Dr. Indroneel Banerjee (DIN: 06404397) as an Independent Director shall come to an end w.e.f. the close of business hours on 31st March, 2024. The composition of the Board shall remain in compliance with applicable provisions of the Companies Act, 2013 and SEBI Listing regulations. The Board of Directors and the Management of the Company expressed deep appreciation and gratitude to Dr. Indroneel Banerjee for his extensive contribution and stewardship. 5. Closure of Pakka Pte Ltd., a Singapore based wholly owned subsidiary Company: In line with the clutter-free business philosophy, the Board considered and approved the proposal for closure of Pakka Pte Ltd, a Singapore-based wholly-owned subsidiary.