Pursuant to Regulation 30 and 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, enclosed find herewith Annual Report along with notice of 29th Annual General ....
KIRANVYPAR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Kiran Vyapar Ltd has filed the Notice of its 29th Annual General Meeting along with the Annual Report for FY 2024-25. The AGM is scheduled for Saturday, 20 September 2025 at 12:30 PM, held through video conferencing. Key items on the agenda include: (1) adoption of audited financial statements and declaration of dividend on equity shares; (2) re-appointment of Mr. Amit Mehta as director retiring by rotation; (3) appointment of M/s. MR & Associates as Secretarial Auditors for five years from FY 2025-26 to FY 2029-30; (4) appointment of Mr. Lakshmi Niwas Bangur, currently Non-Executive Chairman and promoter, as Managing Director for three years from 28 June 2025 to 27 June 2028 (special resolution as he is above 75 years of age); (5) payment of commission to Non-Executive Directors capped at 1% of net profits with a ceiling of Rs. 10 lakh per director per year. The notice also seeks shareholder approval to raise the borrowing limit under Section 180(1)(c) to Rs. 1,500 crore, and the corresponding limit for creating charges under Section 180(1)(a) to Rs. 1,500 crore. Two separate resolutions cover material related party transactions, including granting and availing loans from subsidiaries and promoter group entities (such as Shree Krishna Agency Ltd, Placid Ltd, Maharaja Shree Umaid Mills Ltd, etc.) aggregating several hundred crores, as well as subscription in shares and transfer of loan exposure to its subsidiary Shree Krishna Agency Ltd.
The AGM is largely procedural, but shareholders should note three significant items: a sharp increase in borrowing capacity to Rs. 1,500 crore (signalling potential expansion or refinancing activity), the elevation of promoter Mr. Lakshmi Niwas Bangur from Chairman to Managing Director (a key leadership change), and approval for large related party transactions spanning loans and investments with promoter group companies, which warrant a close look at governance and arm's-length pricing.