outcome of board meeting 25.04.2025
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Awaiting price reaction for this filing.
The board of Binny Mills Ltd met on 25 April 2025 and approved several items. It appointed M/s. T Balaji and Associates, Chartered Accountants (Nungambakkam, Chennai, ~15 years' experience), as Internal Auditors for FY 2024-25. The board approved the grant/renewal of a loan to TCP Limited under Sections 185 and 186 of the Companies Act, 2013, and also approved a loan to TCP Limited under SEBI LODR Regulation 23 (related-party transaction), both subject to shareholder approval at a proposed EGM. M/s. Elangovan Associates was appointed as Scrutinizer for the EGM. Additionally, the board accepted the resignation of Mrs. K. Aarthi from the post of Company Secretary and Compliance Officer, effective 30 April 2025, due to personal reasons (resignation letter dated 11 March 2025).
Shareholders should watch the upcoming EGM, which will decide on related-party loans to TCP Limited — a key governance checkpoint. The exit of the Company Secretary leaves a KMP vacancy that the company will need to fill, which could briefly affect compliance operations.