Notice of 114th Annual General Meeting to be held on 25th August, 2025
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Awaiting price reaction for this filing.
Diana Tea Company has called its 114th AGM on Monday, 25th August 2025 at 3:00 PM through video conferencing, with the cut-off date for e-voting set as 18th August 2025 and the e-voting window running from 22nd to 24th August 2025. The agenda includes adoption of FY25 audited financial statements, re-appointment of Managing Director Sandeep Singhania (who retires by rotation), appointment of M/s MR & Associates as Secretarial Auditor for five years (FY26-FY30), and appointment of two new Independent Directors, Ravindra Suchanti and Navin Nayar, each for five-year terms. Shareholders will also vote on continuation and second-term re-appointment of Independent Director Kiran Nanoo Desai (who will turn 75), re-appointment of Sandeep Singhania as Managing Director for five years, and remuneration for the three Singhania-family directors (Sandeep, Sarita, and Devang) as Executive/Whole-Time Directors, with provisions allowing minimum remuneration even in years of inadequate profits. Notably, the Board has NOT recommended any dividend for FY25 due to losses incurred during the year.
No dividend for FY25 means income-focused shareholders get nothing this year, signalling continued financial stress for the tea producer. The resolutions are largely routine governance items reinforcing promoter-family control (Singhanias retain executive roles and remuneration approvals), with no major strategic or capital-raising proposals on the table.