Proceedings of 65th Annual General Meeting.
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Citadel Realty and Developers held its 65th AGM on September 29, 2025, via video conferencing from 12:00 PM to 12:30 PM, with 27 members attending and Mr. Devendra Shrimanker chairing the meeting. Shareholders considered the audited standalone and consolidated financial statements for FY2024-25, the reappointment of Mr. Chetan Shah as a director (retiring by rotation), and the appointment of ATMS & Co. LLP as Statutory Auditors along with a Secretarial Auditor. Two special business items related to the CRDL Employee Stock Option Plan (ESOP) 2025 were also tabled, including extending ESOP benefits to subsidiaries, holding, and associate companies. E-voting continued for 15 minutes after the meeting and voting results will be disclosed later; the Chairman also addressed shareholder queries during a Q&A session.
Routine AGM proceedings with no major surprises, but the proposed ESOP Plan 2025 and its extension to group companies could lead to equity dilution for existing shareholders if approved. Appointment of new statutory auditors (ATMS & Co. LLP) is a governance change worth noting. Watch for the voting results to confirm approval of each item.