HCP Plastene Bulkpack Announces 42nd AGM and Rs 500 Crore Borrowing Plan

• AGM Date: September 25, 2026
• Borrowing Limit Proposed: Rs 500 Crore

Reader Takeaway: Shareholders to vote on leadership continuity and increased capital flexibility to support company operations and growth.

What just happened

HCP Plastene Bulkpack Limited has formally notified the stock exchanges that its 42nd Annual General Meeting will take place on September 25, 2026, at 11:30 A.M. via video conferencing. The meeting will address key leadership renewals and financial authorizations. The company has set September 18, 2026, as the cut-off date to determine shareholder eligibility for e-voting.

Why this matters

The company is seeking significant financial flexibility by asking shareholders to approve borrowing powers up to Rs 500 crore. This mandate covers the issuance of loans, debentures, and bonds. Additionally, the company is looking to align its governance with the Companies Act, 2013, by adopting a new set of Articles of Association.

Management Re-appointments

• Mr. Prakash Hiralal Parekh: Proposed re-appointment as Managing Director for three years effective November 1, 2026.
• Mr. Sandeep Motilal Shah: Proposed re-appointment as a Non-Executive Independent Director for a second five-year term.

Governance and Special Business

Beyond the borrowing limits, the board is seeking approval for material related-party transactions involving itself and its subsidiary, K.P. Woven Private Limited. The company has also requested specific remuneration approval for Mrs. Meenu Maheshwari, a Non-Executive Independent Director. Mr. Ketan Vyas has been appointed as the scrutinizer to oversee the electronic voting process, which runs from September 19 to September 24, 2026.