Please find attached herewith Proceedings of the 50th Annual General Meeting of the Company held on Monday, 29th September, 2025.
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Cranex Ltd held its 50th Annual General Meeting on 29th September 2025 at 3:00 PM via video conferencing, chaired by Managing Director Mr. Piyush Agrawal. A total of 87 members (85 general public plus 2 promoter) attended the meeting. Five resolutions were put to e-voting, including adoption of standalone and consolidated financial statements for FY ended 31st March 2025, re-appointment of Mr. Chaitanya Agrawal (Whole-time Director and CFO) as a director retiring by rotation, regularisation of Mr. Avinash Prabhat as Independent Director for five years, approval to increase the borrowing limit under Section 180(1)(c) of the Companies Act 2013, and permission to create mortgage or charge on the company's movable and immovable properties. The Chairman and CFO briefed shareholders on the company's financial performance and future outlook. Voting results will be submitted to BSE separately within the prescribed time.
The special resolutions seeking approval to raise the borrowing limit and create charges on company assets suggest Cranex may be preparing to take on additional debt, which could fund expansion or working capital but would also increase financial leverage. Shareholders should watch the upcoming voting results for shareholder sentiment on these debt-related proposals. The other items are routine AGM business.