Please find the attached minutes of 35th Annual General Meeting of the Company, held on 24th September, 2025
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Indong Tea Company held its 35th AGM on 24th September 2025 via video conferencing, attended by 44 members, with all 9 resolutions passed unanimously (100% votes in favor — 1,54,69,048 votes each, zero against). Shareholders adopted the audited financial statements for FY ending 31 March 2025, which carried no qualifications from statutory or secretarial auditors. Three directors — Madanlal Garg, Rajesh Garg, and Rama Garg — were re-appointed by rotation, and M/s Puja Pujari & Associates was appointed as secretarial auditor for a 5-year term (FY26–FY30). The MD Hariram Garg's remuneration was revised to Rs 3 lakh per month plus bonus and leave salary, totalling Rs 42 lakh per annum for two years ending September 2027. Shareholders also cleared a sharp jump in the company's borrowing limit, charge creation on assets, and investment/loan authorization — each raised to Rs 1,000 crore from earlier lower caps. Chairman Hariram Garg briefed members on tea estate operations, entry into new businesses, and the company's future growth outlook.
Unanimous approval across all resolutions signals strong promoter-driven shareholder consensus with no dissent. The steep increase in borrowing, charge creation, and investment limits to Rs 1,000 crore each — up from earlier thresholds — points to potential large-scale expansion or acquisitions ahead, which could lift debt levels. The MD remuneration hike and re-appointments of promoter-family directors keep the existing management firmly in control.