Intimation of the Notice of AGM of the Company for the f/y 2024-25 is disclosed again as company inadvertently missed to attach the copy of notice in the previous intimation. However, ....
Awaiting price reaction for this filing.
Mahaveer Infoway Limited has issued the notice for its 34th AGM to be held on Friday, 29th August 2025 at 10:00 AM at the registered office in Hyderabad. Key business items include adoption of audited FY25 financial statements, non-reappointment of director Mr. Jeetendra Kumar Bhansali, and regularization of Mr. Sachin Jain as Executive Director (appointed as additional director on 29 July 2025). Shareholders will also vote on increasing the company's borrowing limit to Rs. 50 Crores under Section 180(1)(c), authorizing loans and investments up to Rs. 50 Crores under Section 186, and approving related party transactions with Minfy Technologies Private Limited (where MD Mr. Ashok Kumar Jain is a director) up to Rs. 10 Crores for services. The MD's remuneration is proposed to increase from Rs. 18 lakhs to Rs. 24 lakhs per annum with tenure extended to 31 March 2028. E-voting runs from 26 August (9:00 AM) to 28 August (5:00 PM), with cut-off date 22 August 2025. The chairman's letter mentions financial challenges in recent years but signals a resurgence in FY25.
The proposed Rs. 50 Crore borrowing and investment limits represent a significant expansion of the board's financial flexibility, which could signal growth plans or ongoing funding needs given the acknowledged past financial challenges. The MD remuneration hike and new executive director appointment suggest strengthening of management. Shareholders should review the related party transaction with Minfy Technologies and the property sale/lease authority, as these could materially affect the company's asset base and cash flows.