Change in management
Price
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Awaiting price reaction for this filing.
Bihar Sponge Iron told BSE that shareholders at the 43rd AGM on 25 September 2025 approved the re-appointment of Mrs. Kumkum Modi as a Non-Executive Non-Independent Director for another 5 years effective 1 October 2025. She has been on the board since 4 June 2011, and her re-appointment required a special resolution under SEBI's Regulation 17(1A) because she is crossing 75 years of age. She is the wife of Shri Umesh Kumar Modi and mother of directors Abhishek Modi and Jayesh Modi, confirming her place in the promoter family. Separately, M/s Soniya Gupta & Associates was appointed as the new Secretarial Auditor for a 5-year term from FY2025-26 to FY2029-30.
The continued presence of a promoter family member on the board underlines family control of the company, which retail investors should weigh against board independence. The secretarial auditor appointment is a routine compliance step and is unlikely to move the stock.