LLOYDS ENGINEERING WORKS LIMITED has informed the Exchange regarding Proceedings of Extraordinary General Meeting held on March 27, 2026
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Lloyds Engineering Works held an Extraordinary General Meeting on March 27, 2026 via video conferencing, where five special resolutions were put to vote. These include the appointment of three new directors — Vinay Kumar Tripathi (ex-Chairman, Railway Board & CEO) and Apurva Chandra (retired 1988-batch IAS officer) as Independent Directors, and Balasubramanian Prabhakaran (MD of group company Lloyds Metals and Energy) as Non-Executive Non-Independent Director. Shareholders also considered the reappointment of Kishor Kumar Pradhan as Independent Director for a second five-year term, and approval to use unutilized Rights Issue proceeds beyond the March 31, 2026 deadline. The meeting was attended by all 10 directors and KMPs, and voting was conducted via NSDL's e-voting platform. Results are awaited and will be declared by the scrutinizer, Mehul Raval.
The board is being significantly strengthened with high-profile government and industry veterans, which is generally viewed positively by investors. The item on utilization of unutilized Rights Issue proceeds is the most material financial matter for shareholders — clarity on deployment of remaining funds is awaited. The appointment of Prabhakaran from the promoter group company reinforces the inter-group linkage, and the final e-voting outcome on all five resolutions will determine if shareholders have approved these moves.