EGM approves raising Section 185 limit to Rs.50 Cr, related party transaction with GOSL
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Garware Marine Industries held an EGM on Oct 7, 2026 via video conferencing. Shareholders approved two special resolutions: (1) raising the Section 185 transaction limit from Rs.40 Cr to Rs.50 Cr, and (2) approving material related party transactions with Garware Offshore Services Ltd (GOSL) up to Rs.50 Cr, including charging guarantee commission on corporate guarantees. Quorum of 111 members present. Chairman Aditya Garware recused for these votes as interested party.
Approval raises permitted lending and guarantee exposure to related party GOSL by Rs.10 Cr. May raise governance concerns but stays within Companies Act framework.