Board clears auditor change, director re-appointment, Rs 900 Cr borrowing limit hike
MAHASTEEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Board met on Aug 31, 2026. Approved: (1) New statutory auditor M/s Chopra A J and Associates for a 5-year first term, replacing M/s K PR K and Associates whose second term ended. (2) Re-appointment of Independent Director Ms Vanitha Rangaiah for a second 5-year term. (3) Increase in borrowing limit to Rs 900 Crore under section 180. (4) Loan, guarantee and investment limits raised to Rs 900 Crore under section 186, with Rs 300 Crore under section 185 for group entities. (5) Material related party transactions including loans from promoters for a solar project. (6) 38th AGM scheduled for September 25, 2026 via video conferencing. Major items need shareholder approval.
Major proposals like higher borrowing and lending limits need shareholder approval at AGM on Sep 25. Director and auditor changes are routine.