Outcome and Summary of Extra-ordinary General Meeting of the company
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7NR Retail Limited held an Extra-Ordinary General Meeting (EGM) on Friday, 20th June 2025 via video conferencing, which ran for a short six minutes from 3:11 PM to 3:17 PM. The regular Chairman, Mr. Avantinath Anilkumar Raval, was unable to attend due to illness, so Managing Director Mr. Chetan Kumar Ojha stepped in to chair the meeting after confirming the quorum was present. Two ordinary resolutions were put to e-voting: first, an increase in the company's authorized share capital along with a corresponding amendment to the capital clause of the Memorandum of Association; and second, the appointment of M/s. S S R V & Associates, Chartered Accountants (FRN: 135901W), as the new statutory auditors of the company. The chairman stated that the e-voting results would be announced within two working days and shared with the stock exchange.
For shareholders, the proposed hike in authorized share capital is a forward-looking signal that the company may be preparing to raise additional funds or issue new shares in the future, which could dilute existing holdings if executed. The change in statutory auditor is a routine governance update and not expected to materially affect the stock in the short term. Investors should wait for the e-voting results, expected within two working days, for final confirmation.