Spentex Industries Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 29, 2025
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CLC Industries Limited held its 33rd Annual General Meeting on August 29, 2025, via video conferencing, running from 3:36 PM to 3:55 PM IST. A total of 16 resolutions were tabled, including adoption of audited financial statements for the financial year ended March 31, 2025, and re-appointment of Mr. Bhupendra Singh Rajpal as director retiring by rotation. A special resolution was placed to approve the sale of plant, machinery and equipment of the company's Unit I located at Baramati. Additionally, 12 ordinary resolutions sought approval for material related party transactions with entities including Manjeet Cotton Private Limited (a holding company of CLC Industries), Manjeet Global, Satyam Spinners, Deegee Cotsyn, and several others. All resolutions are deemed passed subject to receipt of requisite votes, with results to be announced within 48 hours on the company and NSDL websites.
The proposed sale of the Baramati unit's plant and machinery is a significant operational decision that could reshape the company's manufacturing footprint, while the unusually large cluster of related party transactions — particularly with the Manjeet group holding entity and its affiliates — warrants close shareholder attention for any governance or conflict-of-interest concerns.