AGM DATE 31ST DECEMBER 2025
Awaiting price reaction for this filing.
Binny Limited has called its 55th Annual General Meeting on December 31, 2025 at 11:45 a.m. via video conferencing to adopt the audited financial statements for FY 2023-24, which is more than 15 months late (statutory deadline was September 30, 2024). The delay was caused by major board upheaval — a SEBI order on July 31, 2024 barred the Executive Chairman, Managing Director and CFO from holding directorships, leading to mass resignations, and the Madras High Court appointed a retired judge as administrator to reconstitute the Board. Shareholders will also vote to appoint M/s Venkatesh & Co as statutory auditors for a 5-year term (till FY 2028-29) and M/s RLS & Associates as secretarial auditors for FY 2023-24 and FY 2024-25.
Investors get clarity on the long-delayed FY 2023-24 accounts and a fully reconstituted board, but the filing highlights serious past corporate governance failures, SEBI action against former promoters, and court-supervised management change — factors that may weigh on investor confidence and stock sentiment.