Intimation Regarding Convening of Extra-Ordinary General Meeting on 6th November,2025
Awaiting price reaction for this filing.
Kundan Minerals and Metals Limited has called an EGM on 6 November 2025 at 12:30 PM (IST) through video conferencing, with e-voting from 3 November to 5 November 2025. Six resolutions are tabled: (1) & (2) Approval of material related party transactions (RPTs) between the company / its wholly-owned subsidiary Kundan Concentrates Private Limited and six related parties — Rishi Ganga Enterprises, J.B. Jewels and Metals LLP, Kundan and Zeya, Kundan Gold, Kundan Refinery and Kundan Gold Mines, with proposed annual values up to Rs. 10,000 crore each for two parties and Rs. 8,000 crore / Rs. 5,000 crore for others; (3) & (5) Approval under Section 185 of loans/advances up to Rs. 1,000 crore to Gogia Leasing Limited; (4) & (6) Approval under Section 180(1)(c) of borrowings up to Rs. 1,500 crore from Gogia Leasing Limited and Mr. Vidit Garg. The related parties are significantly influenced by the Pardeep Garg family (promoters), and directors Mr. Vidit Garg and Mr. Udit Garg are interested parties. The meeting is being convened at shorter notice with consent from holders of over 95% of equity shares.
Shareholders are being asked to approve very large recurring related-party transactions and inter-corporate loans (totalling several thousand crore per year) with promoter-group entities. While the company states these are at arm's length and in the ordinary course of business, the scale (Rs. 10,000 crore proposed per party per year vs. the company's own turnover) is unusually large and warrants careful review by minority shareholders before voting.