Binny Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 19/06/2025 ,inter alia, to consider and approve re listing of Company Securities on BSE ....
Awaiting price reaction for this filing.
Binny Ltd has called a board meeting on 19 June 2025 with five agenda items. Key items include discussing the re-listing of the company's shares on BSE, strategies for raising and deploying funds for growth, and reviewing pending statutory compliances. The board will also consider action against former Independent Director Rajeev Bakshi for multiple non-compliances, including failure to respond to a show cause notice dated 31 January 2025, non-disclosure of pecuniary transactions of around Rs 3 crore through Geetanjali Enterprises, and non-empanelment on the Independent Director data bank. The company has flagged what it calls 'circum-cyclic trading' of about 1,540 shares by Mr. Atul Gulati to over 100 different persons in small lots, alleging this was done to fabricate petitioners and trigger fresh litigation. A Madras High Court order from November 2024 had already appointed a retired judge to supervise the company's EGM and barred existing Independent Directors from management.
Mixed signals for shareholders. The re-listing plan and growth funding strategy are positive if executed, but the public allegations of fabricated litigation, governance disputes, and active court oversight of the company point to continued uncertainty. Investors should watch the 19 June board outcome closely for clarity on re-listing timelines and any concrete governance actions.