Summary of the proceedings of the 43rd Annual General Meeting of the Company held on 30th September, 2025
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Galaxy Supermarket Ltd held its 43rd AGM on 30th September 2025 via video conferencing, chaired by Non-Executive Director Mr. Sunil Biyani with 48 members present. Four ordinary resolutions were transacted: adoption of audited financial statements for FY ended March 31, 2025; re-appointment of Mr. Sunil Samal (DIN: 10468907) as director retiring by rotation; approval for material related party transactions; and appointment of Ms. Nidhi Bajaj as Secretarial Auditor for five years. Notably, while the Statutory Auditors' report was unqualified, it carried a statement on Material Uncertainty Related to Going Concern along with Emphasis of Matter and Other Matter paragraphs, which were read at the meeting along with management's explanation. E-voting results were pending as the scrutinizer's report was to be filed later.
The going concern qualification is a red flag that investors should monitor closely as it signals potential business continuity concerns. The name change from Galaxy Supermarket to Galaxy Cloud Kitchens also suggests a business model pivot. E-voting results on the related party transaction approval will be a key near-term trigger.