Outcome of 33rd Annual General Meeting of the Company.
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Heera Ispat Ltd held its 33rd Annual General Meeting on Saturday, 12th July 2025, from 4:00 PM to 5:30 PM at Orient Club, Ahmedabad, with 35 members present in person or by proxy. Shareholders adopted the audited financial statements for FY ended 31st March 2025, re-appointed Mr. Chirag Dinesh Chandan (DIN 03637913) as director retiring by rotation, and ratified M/s. Dhrumil A. Shah & Co. as statutory auditors. The meeting also approved enhancing the company's borrowing limit under Section 180(1)(c) of the Companies Act 2013, and approved the conversion of unsecured loans into equity shares on a preferential basis to persons outside the promoter group. Additionally, CS Jaykumar Deepak Khatnani was appointed as Secretarial Auditor for an initial five-year term starting FY 2025-26.
The approval to convert unsecured loans into equity shares will lead to equity dilution for non-promoter/allottees but can also strengthen the balance sheet by reducing debt liabilities. The enhanced borrowing limit signals possible future expansion or increased debt activity. Overall routine, with no immediate major impact on shareholders from the meeting outcome itself.