Board approves Rs 600 Cr RPT with subsidiary, AOA amendment
MAITHANALL · price
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Maithan Alloys board on 30 Jan 2026 approved two items subject to shareholder approval. First, amendment to Articles of Association to remove the requirement of maintaining a Common Seal, aligning with current Companies Act provisions. Second, material related party transactions with wholly-owned subsidiary Maithan Ferrous Private Limited up to an aggregate of Rs 600 Crore during FY 2026-27. Both items require shareholder and regulatory clearances. Meeting ran from 12:30 PM to 5:20 PM.
Routine AOA change. Rs 600 Cr inter-group transaction signals sizeable business activity with subsidiary; needs shareholder vote but likely to pass as it is own subsidiary.