Kundan Minerals and Metals Limited has informed the Exchange about General Updates
Awaiting price reaction for this filing.
Kundan Minerals and Metals Limited's Extra Ordinary General Meeting (EGM), originally scheduled for May 6, 2025 at 12:30 PM via video conferencing, was adjourned due to non-availability of the required quorum even after waiting half an hour. The EGM has now been rescheduled to May 13, 2025 at 12:30 PM via VC/OAVM, with the original agenda remaining unchanged. The EGM covers seven key items, including approval of material related party transactions with Kundan Refinery Private Limited up to Rs. 5,000 Crores for FY 2024-25, related party transactions for FY 2025-26, loan and guarantee limits of Rs. 2,500 Crores under Section 185, investment limits of Rs. 2,500 Crores under Section 186, overall borrowing limits of Rs. 2,500 Crores, loans to Gogia Leasing Limited up to Rs. 1,000 Crores, and loans from Gogia Leasing Limited and Mr. Vidit Garg up to Rs. 1,500 Crores. Remote e-voting closed on May 5, 2025, so shareholders who did not vote electronically will need to vote at the adjourned meeting. The results will be declared within two working days of the rescheduled EGM.
The adjournment delays the approval of significant related party transactions and expanded borrowing/loan limits worth several thousand crores. The lack of quorum may indicate limited shareholder participation, and the market will watch the May 13 meeting closely for the outcome of these large financial authorizations.