Annual Report for the Financial Year 2024-25 and Notice of 15th Annual General Meeting scheduled to be held on Friday, September 26, 2025 at 3:00 p.m., through video-conferencing/ and other ....
ESSARSHPNG · price
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Essar Shipping Limited has announced its 15th Annual General Meeting scheduled for Friday, September 26, 2025, at 3:00 PM via video conferencing. The AGM includes adoption of audited standalone and consolidated financial statements for FY 2024-25, re-appointment of Ms. Raichel Mathew as a director (retiring by rotation), and appointment of a new statutory auditor M/s. Manohar Chowdhry & Associates for a 5-year term. Two key special business items seek shareholder approval for disinvestment of overseas subsidiaries — Essar Shipping DMCC (Dubai) and OGD Services Holdings Limited (Mauritius) — to Essar Investment Holdings Mauritius Limited or other Essar group entities. The notice also seeks approval for material related party transactions, the most notable being a proposed sale of subsidiary shares to Essar Investment Holdings Mauritius Limited valued at approximately Rs 1,000 crore. Additionally, Mr. Ketan Kantibhai Shah is proposed to be appointed as a Non-Executive Non-Independent Director, and M/s. Mayank Arora & Co. as the Secretarial Auditor for five years.
Shareholders should review the major disinvestment proposals and related party transactions carefully, as they represent significant asset transfers within the Essar group. The ~Rs 1,000 crore related party sale and other large RPTs could materially affect the company's structure and minority shareholder interests, warranting attention before voting on September 25, 2025.