Notice of 52nd Annual General Meeting of the Members of the Company will be held on 15.09.2025
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Garg Furnace Limited has called its 52nd Annual General Meeting on Monday, 15 September 2025 at 11:00 AM, to be held in physical mode at the registered office in Ludhiana. The register of members will remain closed from 8 September to 15 September 2025, with the e-voting cut-off date set as 8 September 2025; remote e-voting runs from 12 September (9:00 AM) to 14 September 2025 (5:00 PM) via CDSL. Ordinary business includes adoption of FY2024-25 financial statements and the re-appointment of retiring director Toshak Garg. Special business covers re-appointment of statutory auditor M/s Ashwani & Associates for a second 5-year term (FY2025-26 to FY2029-30) with proposed audit fees of Rs. 4.5 lakh plus tax, ratification of cost auditor M/s Anju Pardesi's Rs. 20,000 remuneration, and appointment of M/s PDM & Associates as secretarial auditor for 5 years. The meeting also seeks shareholder approval for material related party transactions capped at Rs. 150 crore with promoter group company Vaneera Industries and up to Rs. 1 crore each with promoter directors Devinder Garg, Vaneera Garg and Toshak Garg, plus the appointment of Mrs. Mehak Jain as Independent Director for 5 years.
This is a routine AGM notice, but shareholders should pay attention to the Rs. 150 crore related party transaction limit with promoter group entity Vaneera Industries, which is sizeable relative to a small-cap steel company and warrants scrutiny. Auditor re-appointments and the new Independent Director are standard governance items and unlikely to move the stock on their own.