Please find enclosed herewith summary of the proceedings of the 42nd AGM of the Company held on Monday, 29th September, 2025 at 3.00 p.m. through Video Conferencing Other Audio Visual Means.
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Eastcoast Steel Ltd held its 42nd AGM on September 29, 2025, at 3:00 p.m. via video conferencing, concluding at 3:32 p.m. The meeting was chaired by Non-Executive Director Mr. Prithviraj S. Parikh, with 35 members in attendance (3 from promoter group, 32 from public), and quorum was maintained throughout. Four ordinary resolutions were tabled: (1) adoption of FY 2024-25 financial statements, (2) re-appointment of Mr. P. K. R. K. Menon as Director (retiring by rotation), (3) re-appointment of M/s. Paresh Rakesh & Associates LLP as Statutory Auditors, and (4) appointment of M/s. Balraj Vanwari & Associates as Secretarial Auditor. The Chairman highlighted a positive legal update: the NCLT Chennai allowed the company's application challenging the maintainability of a petition filed by M.B. Gupta HUF and others against the company, effectively ending those proceedings. The auditors' report had no qualifications or adverse comments, and e-voting results will be declared within 2 working days.
The NCLT ruling in the company's favor removes a legal overhang for shareholders, which is a positive signal. All AGM items are routine corporate governance matters, and the clean auditors' report with no qualifications is reassuring. Investors should watch for the e-voting results due within 2 working days for confirmation of resolution approvals.