Appointment of Secretarial Auditor
Price
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Awaiting price reaction for this filing.
At the 40th AGM held on September 10, 2025, shareholders approved four key items. First, Mr. Gajraj Jain was re-appointed as Chairman cum Managing Director for three years effective April 17, 2026. Second, the company announced a bonus issue in the ratio of 1:2 — one bonus equity share of face value ₹2 for every two shares held. Third, the authorized share capital was increased to ₹6 crore divided into 3 crore equity shares of ₹2 each to accommodate the bonus issue. Fourth, Mr. Baladeva Chitranjan was appointed as Secretarial Auditor for five consecutive years from FY 2025-26 to FY 2029-30.
The 1:2 bonus issue is the most material development for shareholders — it increases the share count by 50% and is typically viewed positively as it rewards existing holders, though the stock price usually adjusts downward proportionally on the ex-bonus date. The MD re-appointment provides continuity in leadership.