Please find enclosed Notice of 51st Annual General Meeting to be held on Friday, the 27th June, 2025. Please take the same on record.
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Modern Steels Limited has issued the notice for its 51st Annual General Meeting (AGM) to be held on Friday, 27th June 2025 at 02:00 PM via Video Conferencing. The ordinary business includes adoption of audited financial statements for FY ending 31st March 2025 and re-appointment of Mr. Krishan Kumar Goyal (DIN: 00482035), Chairman and Managing Director, who retires by rotation. Special business includes appointment of M/s Sanger & Associates as Secretarial Auditor until the AGM of 2028, and approval of a material related party transaction with Chandigarh Finance Private Limited to purchase land measuring 64 Kanal & 17 Marla at Village Chattarpura, Punjab for Rs. 16.50 Crore at arm's length basis. The Register of Members will remain closed from 21st June to 27th June 2025, and remote e-voting window will be open from 24th June (9:00 AM) to 26th June (5:00 PM) via NSDL.
Shareholders need to approve a Rs. 16.50 crore land purchase from a related party (Chandigarh Finance, linked to MD Krishan Kumar Goyal), which may raise governance concerns despite being termed arm's length. The re-appointment of the long-standing MD and the routine secretarial auditor appointment are standard agenda items; investors should monitor voting outcomes, especially on the related party transaction.