Kundan Minerals and Metals Limited has informed the Exchange regarding ''.
Awaiting price reaction for this filing.
Kundan Minerals and Metals Limited informed the exchanges that its Extra Ordinary General Meeting (EGM) scheduled for 6th May 2025 at 12:30 PM via video conferencing was adjourned due to lack of the required quorum even after waiting half an hour. The EGM has been rescheduled to Tuesday, 13th May 2025 at 12:30 PM through VC/OAVM, with the same agenda. The remote e-voting window (conducted via NSDL, cut-off date 29th April 2025) had already closed on 5th May 2025, and no fresh remote e-voting will be available for the adjourned meeting, though members can vote at the adjourned meeting. The original EGM notice covered 7 special business items, including material related party transactions with Kundan Refinery Private Limited (up to Rs. 5,000 crore for FY 2024-25 and FY 2025-26), loans/guarantees up to Rs. 2,500 crore under Section 185, increased investment/loan limits up to Rs. 2,500 crore under Section 186, overall borrowing limit up to Rs. 2,500 crore under Section 180(1)(c), loans to Gogia Leasing Limited up to Rs. 1,000 crore, and loans taken from Gogia Leasing Limited and Mr. Vidit Garg up to Rs. 1,500 crore.
The EGM could not transact business on 6th May 2025 due to absence of quorum, delaying shareholder approval of significant related party transactions and expanded borrowing/lending limits (aggregating several thousand crore rupees). The delay introduces uncertainty around the timing of these approvals, but the meeting will reconvene on 13th May 2025 with a fallback that members present at the adjourned meeting will constitute a valid quorum, so the company is not blocked indefinitely. Shareholders should note that those who already voted via remote e-voting are not eligible to vote again at the adjourned meeting.