Please find enclosed herewith Notice of the 106th Annual General Meeting to be held on August 06, 2025.
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Bombay Cycle & Motor Agency Ltd has called its 106th AGM on August 6, 2025 at 4:30 PM, to be held via video conferencing. The Board has recommended a final dividend of Rs. 5 per equity share (face value Rs. 10) for FY 2024-25, with July 25, 2025 as the record date and payment scheduled by September 4, 2025. Shareholders will also consider the re-appointment of Mr. Chirag C. Doshi as Chairman & Managing Director for 5 years (he will not draw any remuneration), the appointment of M/s. LMRA and Associates as new Statutory Auditors for a 5-year term, and M/s. Ragini Chokshi & Co. as Secretarial Auditors. Additionally, two special resolutions are on the agenda: one seeking approval for investments, loans and guarantees up to Rs. 50 Crores under Section 186, and another for a material related party transaction worth Rs. 2.736 Crores between the company's wholly owned subsidiary Walchand Advanced Composites and group company Walchandnagar Industries Ltd.
The Rs. 5 per share dividend is a positive signal for shareholders, pending approval at the AGM. The related party transaction with a group company and the broad borrowing/investment limit of Rs. 50 Crores are governance items shareholders should review, though both are standard for holding companies.