Notice of the Extra ordinary General Meeting is attached for reference
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Chowgule Steamships has called an Extra-Ordinary General Meeting on Thursday, January 8, 2026 at 11:00 AM in Vasco-Da-Gama, Goa. The only special business on the agenda is approving a consolidated salary of INR 84,00,000 per annum (INR 7,00,000 per month) for Mr. Vijay Vishwasrao Chowgule, the Promoter and Whole-time Director, effective from December 1, 2025 up to September 26, 2027. The resolution is being routed through the special resolution route under Section 197 / Schedule V of the Companies Act because it needs to apply in the event of absence or inadequacy of profits. Notably, Mr. Chowgule has not drawn any remuneration from the company since his appointment as WTD in September 2022. The company's net profit dropped sharply from INR 740.78 lakhs in FY24 to INR 127.31 lakhs in FY25, which is why this special resolution route is needed. Cut-off date for e-voting eligibility is January 1, 2026; remote e-voting runs January 4–7, 2026.
This is a related-party transaction (promoter-director remuneration) requiring shareholder approval. The proposed pay-out is modest in absolute terms, but the sharp fall in FY25 profits means shareholders should weigh whether paying the promoter-director during a profit downturn is justified. Approval is unlikely to move the stock sharply, but a 'No' vote or low turnout could create friction.