The details of Annual General Meeting is attached herewith
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Chowgule Steamships has called its 62nd AGM on Friday, August 8, 2025 at 11:00 AM in Vasco-Da-Gama, Goa, with the cut-off date for voting eligibility set as August 1, 2025 and remote e-voting open from August 5-7. Ordinary business includes adoption of FY25 financial statements and reappointment of director Ramesh Chowgule. Several special resolutions seek shareholder approval for related party transactions: with promoter Dolphin Investments Limited (inter-corporate deposits up to INR 1,000 lakhs proposed plus ratification of INR 1,250 lakhs already given, and liasoning fees of up to INR 300 lakhs per annum plus ratification of INR 334.50 lakhs already paid). Similar approvals are sought for property leasing with Chowgule Lavgan Shiprepair and Angre Port Private Limited (up to INR 300 lakhs rent each), and a loan/investment of up to INR 1,000 lakhs to Angre Port. Director-related resolutions include continuation of Ramesh Chowgule and Rohini Chowgule as non-executive directors (both aged 75+), reappointment of independent director Amit Khandelwal for a second term, and appointment of M/s Pranay D. Vaidya and Co. as secretarial auditors for 5 years.
Minority shareholders should closely review the cluster of related party transactions with promoter-group entities (Dolphin Investments, Angre Port, Chowgule Lavgan Shiprepair), as these aggregate to significant sums and are being presented together for approval. While presented as arm's-length and in the ordinary course of business, the volume of promoter-linked dealings may raise governance considerations for non-promoter shareholders voting on these resolutions.