Mcleod Russel India Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 26, 2025
MCLEODRUSS · price
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Mcleod Russel India held its 27th AGM on September 26, 2025 via video conferencing, which ran from 12:30 p.m. to 2:15 p.m. Shareholders transacted 8 items of business, including adoption of audited standalone and consolidated financial statements for FY ended March 31, 2025, re-appointment of Mr. Amritanshu Khaitan as director, and appointment of M/s A.K. Labh & Co as secretarial auditors for a 5-year term. Two special resolutions were passed to raise the company's borrowing powers and charge creation limit up to Rs. 3,200 crores each, a notable increase indicating potential fundraising or debt activity. The CFO also read out qualifications in the Statutory Auditors' report along with management's reply, suggesting some adverse comments from auditors on FY25 financials. Remote e-voting was conducted from September 22-25, 2025, and the consolidated voting results will be announced within two working days.
The sharp increase in borrowing and charge creation limits to Rs. 3,200 crores signals that the company may be preparing for significant debt expansion, which shareholders should watch closely. The reading out of auditor qualifications at the AGM is a point of concern and the voting results, due shortly, will confirm whether these special resolutions were passed.