Hariom Pipe Industries Limited has informed the Exchange about Re-appointment of a Non-Executive Independent Director of the Company
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Hariom Pipe Industries announced that its board has approved the re-appointment of Mr. Rajender Reddy Gankidi as a Non-Executive Independent Director for a second 5-year term starting May 15, 2026, subject to shareholder approval. Mr. Gankidi is a former Canara Bank General Manager with 37 years of banking experience in project finance, risk management, and corporate lending. The board also approved an increase in limits under Section 186 of the Companies Act for loans, guarantees, securities, and investments, along with material related party transactions, both subject to shareholder approval. A postal ballot notice will be sent to shareholders, with February 27, 2026 set as the cutoff date for e-voting eligibility.
The re-appointment of an experienced independent director supports continuity in board oversight, while the enhanced Section 186 limits and material related party transactions signal potential capital deployment or inter-group dealings that will need shareholder approval. Investors should review the postal ballot items closely, as they could affect the company's financial exposure and related party arrangements.