CIE Automotive India Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on April 30, 2025
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CIE Automotive India held its 26th AGM on April 30, 2025 via video conference, with 51 members attending out of 1,27,263 eligible shareholders. All 10 resolutions were passed with the required majority, including adoption of audited financial statements for FY ended December 31, 2024. Shareholders approved a dividend of Rs. 7 per equity share on a face value of Rs. 10. Key appointments approved include the re-appointment of Mr. Manoj Mullasery Menon and Mr. Ander Arenaza Alvarez as Whole-time Directors for 3 years, and the appointment of M/s. SVD & Associates as Secretarial Auditors for a 5-year term. Material related party transactions with Mahindra & Mahindra (up to Rs. 23,000 million) and between CIE Galfor SA and CIE Automotive SA were also approved, along with the shifting of the registered office from Mumbai to Pune.
The Rs. 7 per share dividend rewards shareholders with a payout on FY2024 results, while the re-appointments of key directors and approval of large related party transactions indicate business continuity and continued close dealings with the Mahindra group. The registered office shift to Pune aligns the company's headquarters with its corporate office location.