Annexed herewith is the scrutinizer''s report for EGM convened on Wednesday, 25th March 2026 issued by Practicing Company Secretary.
Awaiting price reaction for this filing.
Ashiana Ispat Limited held an Extra-Ordinary General Meeting on March 25, 2026 at 1:00 PM via video conferencing. All 6 resolutions were passed with 100% votes in favour. The resolutions covered appointment of Mr. Tarun Jain, Mr. Vicky Jain, and Mrs. Sarita Jain as Directors, appointment of Mr. Naresh Chand as Managing Director, removal of Ms. Darshan as Director, and approval of Related Party Transactions. Out of 11,733 shareholders, 65 participated through remote e-voting, representing 4,421,574 shares or 55.51% of total shareholdings. E-voting was facilitated by MUFG Intime India Pvt. Ltd., and CS Chetan Gaur of C Gaur & Associates served as the scrutinizer. For the Related Party Transactions resolution, 1,279,950 promoter shares and 11,500 public shares held by related parties (Naresh Chand, Naresh Chand HUF, and Tarun Jain) were excluded from voting under Section 188 of the Companies Act, 2013.
The EGM resulted in significant board restructuring with new director and Managing Director appointments alongside the removal of an existing director. The related party transactions approval is a routine governance matter, though shareholders should monitor such transactions closely for arm's length pricing and proper disclosure.