Madhucon Projects Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 26, 2025
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Madhucon Projects Limited has informed BSE and NSE about its 35th Annual General Meeting scheduled for Friday, September 26, 2025 at 3:00 PM, to be held at the registered office in Khammam. The register of members and share transfer books will be closed from September 20 to September 26, 2025. Ordinary business includes adopting the audited standalone and consolidated financial statements for FY ended March 31, 2025 and re-appointing Mr. Mohammad Shafi as director. Special business includes ratifying the appointment of Mr. Sambasiva Rao Jasty as a director and Mr. Turlapati Venkata Sundara Jawaharlal Nehru as Independent Director for a 5-year term till August 8, 2030, approving the cost auditor's remuneration of Rs. 1 lakh for FY26, and appointing V. Madhumita & Associates as Secretarial Auditor for 5 years (FY 2025-26 to 2029-30). The most notable item is seeking shareholder approval to not provide for interest of Rs. 67.86 crore on working capital and unsecured loans for FY 2024-25, on the grounds that the company has submitted One Time Settlement (OTS) proposals to its lenders. Remote e-voting runs from September 23 (9 AM) to September 25 (5 PM), with cut-off date of September 19, 2025.
The non-provision of Rs. 67.86 crore in interest, tied to an ongoing One Time Settlement with lenders, signals financial stress and debt restructuring at the company and is the item to watch closely. Shareholders should note the book closure period (Sept 20-26) and exercise their e-voting rights on key resolutions during the September 23-25 window.