Notice of Extra Ordinary General Meeting to be held on 21-07-2025
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Acme Resources Ltd has called an Extra Ordinary General Meeting on July 21, 2025 at 10:00 a.m. through video conferencing to seek shareholder approval for the appointment of Mr. Ravin Saluja (DIN: 00289305) as Managing Director for a 5-year term from April 22, 2025 to April 21, 2030. Mr. Saluja, aged 47 and son of existing Director Mr. Kuldeep Saluja, is proposed to receive a monthly salary of up to ₹5,00,000 and annual CTC of up to ₹60 lakh inclusive of perquisites such as HRA, medical reimbursement, car, and standard benefits. The company disclosed it has inadequate profits under Section 198 of the Companies Act and is seeking approval under Schedule V. Last year's financials showed revenue of ₹794.01 lakhs and PAT of ₹145.27 lakhs. The EGM will use NSDL's remote e-voting facility from July 17 to July 20, 2025, with the cut-off date being July 14, 2025.
Shareholders will vote on a special business item that formalises promoter-family control at the top management level, with annual pay of up to ₹60 lakh approved for the next 3 years despite the company reporting inadequate profits. Approval is likely since Mr. Saluja was already appointed on April 22, 2025 and the resolution requires only an ordinary resolution, but minority shareholders should note the related-party nature of the appointment and absence of any shareholding by the appointee in the company.