Members at the 34th Annual General Meeting (AGM) of the Company held on Monday, 29th September, 2025 at 10:00 A.M. at Navodaya Colony Welfare association, Navodaya Colony, Gudimalkapur, ....
Awaiting price reaction for this filing.
Clenon Enterprises held its 34th AGM on 29 September 2025 in Hyderabad, where members approved six items. These included adoption of standalone financial statements, re-appointment of a director retiring by rotation, and appointment of Pawan Jain & Associates as Secretarial Auditor for a five-year term up to the 2030 AGM. Members also approved appointing TRM & Associates as Statutory Auditors (for five years) to fill the casual vacancy caused by the resignation of previous auditor Gorantla & Co. The most material item approved was the sale of a property/undertaking under Section 180(1)(A) of the Companies Act, at a consideration not less than Rs. 3 crore or market value as per SRO valuation, expected to complete within 12 months. The buyer will be a wholly-owned subsidiary of the company (yet to be incorporated), making it a related party transaction carried out at arm's length with audit committee approval.
Routine AGM approvals (auditor changes and financial statements) are procedural and unlikely to move the stock. The approved sale of a property/undertaking to a wholly-owned subsidiary for at least Rs. 3 crore is a notable asset restructuring step and may be tracked by shareholders for completion and impact on the company's net worth over the next 12 months.