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Eastcoast Steel Ltd submitted the minutes of its 42nd Annual General Meeting held on September 29, 2025, via video conferencing. Four resolutions were passed with 100% approval from voting shareholders: (1) adoption of audited financial statements for FY2024-25, (2) re-appointment of Shri P.K.R.K. Menon as director (retiring by rotation), (3) re-appointment of M/s Paresh Rakesh & Associates LLP as Statutory Auditors for a second five-year term until the 47th AGM, and (4) appointment of M/s Balraj Vanwari & Associates as Secretarial Auditor for five years until the 47th AGM in 2030. Of the total 53,96,468 shares, 29,19,146 votes (54.09%) were polled, all in favour with zero dissent. The Chairman also noted that the NCLT Chennai, vide order dated 18-09-2025, allowed the company's application in the M.B. Gupta HUF vs Eastcoast Steel Limited matter, ending those proceedings. The Statutory Auditor's Report had no qualifications, and no shareholder queries were raised.
All four resolutions were approved unanimously with no votes against, indicating full shareholder agreement on routine governance matters. The NCLT ruling favouring the company effectively closes an insolvency-related legal challenge, which removes an overhang on the company and is mildly positive for shareholders.