CIE Automotive India Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on April 30, 2025
CIEINDIA · price
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CIE Automotive India has notified the 26th Annual General Meeting scheduled for Wednesday, 30th April 2025 at 3:30 p.m. via Video Conference. Key items on the agenda include adoption of audited financial statements for FY2024, declaration of a final dividend of ₹7 per equity share (face value ₹10), re-appointment of two whole-time directors (Mr. Manoj Mullassery Menon at up to ₹25 million per annum and Mr. Ander Arenaza Alvarez at up to ₹3 million per annum), appointment of new secretarial auditors for 5 years, and ratification of cost auditor remuneration of ₹13.86 lakh. The company is also seeking shareholder approval for material related party transactions with Mahindra & Mahindra Limited (up to ₹23,000 million) and cash pooling arrangements between subsidiary CIE Galfor SA and parent CIE Automotive SA (up to Euro 250 million). A special resolution proposes shifting the registered office from Mumbai (Santacruz) to Pune (Bhosari). The cut-off date for eligibility and dividend is 23rd April 2025.
The ₹7 per share dividend rewards shareholders from FY2024 earnings, while the large related party transaction limits reflect ongoing commercial dependency on Mahindra & Mahindra and parent CIE Automotive. The registered office shift to Pune signals consolidation around the company's operational base and is unlikely to affect shareholders materially.