An EGM of the company was held on 09.12.2025 through VC/OAVM
Awaiting price reaction for this filing.
ARSS Infrastructure Projects held an EGM on December 9, 2025 via video conferencing, where all 6 special resolutions were passed with overwhelming majority (over 99.98% in favour). The meeting was a key step in implementing the company's Resolution Plan under the Insolvency and Bankruptcy Code, 2016, which was approved by the NCLT Cuttack Bench after submission by Ocean Capital Market Limited. Key resolutions included increasing authorised share capital from ₹55 crore to ₹110 crore (divided into 11 crore equity shares of ₹10 each), approving borrowing limits up to ₹5,000 crore, allowing creation of charges on company assets, approving remuneration of ₹50 lakh/month for Chairman Dipti Ranjan Patnaik and ₹2 lakh/month for Managing Director Gopal Krishna Dash, and appointing Manoranjan Panigrahy as Independent Director for 5 years. Notably, promoter group shareholders holding 2.63 crore shares did not vote on any resolution, with voting participation limited to about 6.27% of outstanding shares from public non-institutional shareholders.
Shareholders should view this EGM as a positive development for the company's revival post-IBC, with management securing approval to raise substantial fresh capital and borrowings to revive operations and clear legacy liabilities. However, the very low voting turnout (only public non-institutional investors participated) and the absence of promoter group voting may raise governance concerns among retail investors, though the resolutions were passed with near-unanimous support from those who did vote.