Davangere Sugar Company Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 30, 2025
DAVANGERE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Davangere Sugar Company held its 54th AGM on September 30, 2025, from 11:00 AM to 12:45 PM at Davangere, with 45 members attending. Ordinary business included adoption of FY25 audited financial statements and re-appointment of a retiring director. Special business included ratification of the cost auditor's fee, appointment of a new secretarial auditor for 5 years, re-appointment of two independent directors, a change in designation and remuneration for an executive director, revision in the Managing Director's remuneration, and conversion of loans into equity shares or warrants. Members also approved taking loans of up to Rs. 150 Crores from directors (with an option to convert them into equity) and altering the object clause of the company's Memorandum of Association. Remote e-voting ran from September 27-29, 2025, and combined voting results will be announced within two working days.
Shareholders should watch for the upcoming voting results, as the loan-to-equity conversion and up to Rs. 150 Crore of director-related borrowings could lead to equity dilution. The amendment to the MOA's object clause hints at possible diversification beyond the core sugar business, which may affect the company's future direction.