Scrutinizer''s report for 33rd AGM held on August 05, 2025
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Lesha Industries held its 33rd Annual General Meeting on August 5, 2025 via video conferencing. Nine resolutions were put to vote through remote e-voting and e-voting at the AGM, and all were passed. Routine items — adoption of FY25 audited financial statements, re-appointment of Managing Director Leena Shah (retiring by rotation), regularization of Independent Director Umangkumar Patel, and appointment of Secretarial Auditor — were approved with overwhelming support of around 99.94% to 99.96%. Five resolutions approving material Related Party Transactions — with Rhetan TMT, Ashnisha Industries, Ashoka Metcast, Gujarat Natural Resources, and Lesha Ventures — were also passed as Special Resolutions, but with noticeably lower approval in the 82% to 86.5% range, with dissent ranging from roughly 13.5% to 17.8%. Mr. Chintan K. Patel, Practicing Company Secretary, acted as Scrutinizer and CDSL provided the e-voting platform.
All nine resolutions cleared comfortably, so there is no disruption to governance or the company's ability to enter into the approved related party deals. The lower approval margins on the five RPT resolutions (roughly 82–87%) signal some shareholder discomfort with related party transactions, though the votes were well above the 75% threshold required for special resolutions. Retail investors should watch these RPT counterparties (Rhetan TMT, Ashnisha Industries, Ashoka Metcast, Gujarat Natural Resources, Lesha Ventures) as they indicate the group entities the company is closely transacting with.