Cineline India Limited has informed the Exchange regarding Notice of undefined to be held on September 26, 2025
CINELINE · price
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Cineline India Limited has notified the 23rd Annual General Meeting (AGM) to be held on Friday, September 26, 2025 at 11:00 AM via video conferencing. Ordinary business includes adoption of audited standalone and consolidated financial statements for FY ended March 31, 2025, and re-appointment of Mr. Rasesh Kanakia as a director retiring by rotation. Special business includes re-appointment of Mr. Rasesh Kanakia as Executive Chairman and Mr. Himanshu Kanakia as Executive Managing Director, both for 5-year terms from May 1, 2026 to April 30, 2031, with basic salary up to ₹2,00,000 per month and allowances. Other items seek shareholder approval to extend the tenure of a ₹50 crore loan already given to Kanakia Spaces Realty Private Limited (KSRPL), a related party (this loan is 19.67% of Cineline's consolidated turnover), to appoint Mr. Ashish Rasesh Kanakia (a relative of the Chairman) to an office of profit at up to ₹1.5 crore fixed pay plus ₹50 lakh perquisites per annum, and to appoint M/s. D. M. Zaveri & Co. as Secretarial Auditors for five years from April 1, 2025 to March 31, 2030.
Shareholders will vote on multiple governance-sensitive items, notably the re-appointment of two executive directors, a related-party loan extension of ₹50 crore to KSRPL (where common directors sit on both companies), and the appointment of a promoter's relative to an office of profit. While largely procedural, these resolutions—especially the related-party loan and family appointments—warrant attention from minority shareholders focused on corporate governance.