Notice of 34th AGM on Friday,8th August, 2025 at 3:30 P.M. IST through Video Conferencing/ Other Audio Visual Means
GNRL · price
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Gujarat Natural Resources Limited (GNRL) has called its 34th AGM for Friday, 8th August 2025 at 3:30 PM IST through video conferencing. Ordinary business includes adopting the FY25 (ended 31 March 2025) audited financial statements and re-appointing Mr. Hitesh Donga, who retires by rotation. Key special business items include: (a) appointing Mr. Chintan K. Patel as Secretarial Auditor for a 5-year term (FY 2025-26 to FY 2029-30) at a proposed fee of Rs. 3 lakh plus taxes for the first year; (b) regularising the appointments of Mr. Paragkumar Prakashchandra Raval and Mrs. Deepti Ghanshyam Gavali as Non-Executive Independent Directors for 5 years each (24 May 2025 to 23 May 2030); (c) raising the borrowing limit under Section 180(1)(c) from Rs. 200 crore to Rs. 500 crore; (d) raising the limit for loans, investments, and guarantees under Section 186 from Rs. 250 crore to Rs. 500 crore; and (e) approving material related party transactions of up to Rs. 150 crore each with Rhetan TMT, Ashnisha Industries, Ashoka Metcast, and Lesha Industries for FY 2026-27, where key directors and promoters of GNRL are also on the boards of these related parties.
Shareholders should note that the proposed Rs. 150 crore RPT cap per related party equals roughly 748% of GNRL's consolidated turnover, signalling a major scaling-up of inter-group transactions and significantly higher financial exposure between the company and promoter-linked entities. The 2.5x increase in borrowing limit and doubling of the investment/guarantee ceiling suggest the company is preparing for sizeable expansion or capital deployment, which could increase leverage and related-party risk and warrants careful review before voting.