Garuda Construction and Engineering Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 27, 2025
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Garuda Construction and Engineering Limited held its 15th Annual General Meeting on September 27, 2025, via video conference, and submitted the scrutinizer's report to the exchanges on September 30, 2025. Four resolutions were put to vote, including adoption of financial statements, re-appointment of a retiring director, approval of related party transactions, and appointment of a secretarial auditor. Resolutions 1, 2, and 4 were passed with over 99.9% approval. However, Resolution 3 seeking approval for Related Party Transactions was rejected, with 70.41% of votes cast against it and only 29.59% in favour, out of 882,297 valid votes. Promoter and promoter group votes were treated as invalid on this particular resolution, as is standard practice for related party approvals.
Shareholders have rejected the related party transactions resolution, which is a notable negative signal reflecting investor discomfort with related-party dealings and could raise governance concerns. The stock may see short-term pressure, and the company will need to reassess or re-propose these transactions, potentially limiting operational flexibility with related parties.