Notice for convening the 34th Annual General Meeting of the Company
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Ecoboard Industries has called its 34th AGM on September 30, 2025 at 11:00 AM via video conferencing. The agenda includes adopting FY25 standalone financials and re-appointing MD & CEO Ramakrishna Raju Guttumukkala (who drew Rs. 41.97 lakh in FY25 and holds ~21.56 lakh shares) by rotation. A key special business item seeks shareholder approval to appoint his son, Praveen Kumar Raju Gottumukkala, as Whole-time Director and CFO for 5 years at a salary of Rs. 3.28 lakh/month plus 0.50% commission on incremental consolidated net profits. Shareholders will also be asked to approve material related party transactions with Western Bio Systems India Pvt. Ltd (an associate where the MD has controlling interest) worth up to Rs. 2 crore for purchases/labour and Rs. 4 crore for inter-corporate deposits in FY26, together representing 47.17% of consolidated FY25 turnover. The notice also seeks approval to appoint CS Satish Kolhe as Secretarial Auditor for a 5-year term from FY26 to FY30.
Shareholders should note a disclosed governance lapse: the company had already taken Rs. 7.74 crore as inter-corporate deposit from Western Bio Systems starting September 2024 without prior Board or shareholder approval, and the 3-month window to ratify has lapsed. The company is seeking legal remedies, which is a red flag. The large related-party transaction limits (47.17% of turnover) and the family-linked appointments concentrate authority and related-party exposure, which investors may view as a negative governance signal.