PROCEEDINGS OF 1ST EGM (2025-26)
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Binny Mills Limited held its 1st Extra Ordinary General Meeting (EGM) for F.Y. 2025-26 on 22nd May 2025 at 12:00 PM via Video Conferencing, with the registered office in Mylapore, Chennai as the deemed venue. Three directors attended — Shri Yeswanth Thillainayagam (who chaired the meeting in the absence of Chairman V.R. Venkatachalam), Shri Richard Henry, and Shri Ashwath Naroth. Four business items were transacted: (1) appointment of Mr. Ashwath Naroth as Independent Director (Special Resolution), (2) appointment of Mr. T. Yeswanth as Non-Executive Non-Independent Director (Ordinary Resolution), (3) approval to grant/renew a loan to TCP Limited under Sections 185 and 186 of the Companies Act, 2013 (Special Resolution), and (4) approval of a loan to TCP Limited under Regulation 23 of SEBI's Listing Regulations (Special Resolution). Remote e-voting was open from 19th May 2025 to 21st May 2025 (as stated in the notice, though a typo reads 'August 2024'). The scrutinizer's consolidated report is to be submitted within two working days. The meeting concluded at 12:27 PM with no shareholder speakers participating.
Shareholders approved two board appointments (one Independent and one Non-Executive Director) and cleared two related-party loan items involving TCP Limited, which means the company is formally permitted to extend/renew this lending exposure. The Section 185/186 and Regulation 23 approvals point to a continuing related-party financial arrangement, something retail investors should weigh when assessing the company's capital allocation and governance.