Neueon Towers Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 19, 2025
Awaiting price reaction for this filing.
Neueon Towers Limited (NTL) held its 18th AGM on August 19, 2025 via video conferencing and all 15 resolutions were passed with the required majority. Key items approved include the FY24-25 standalone and consolidated financial statements, reappointment of Mr. Sudheer Rayachoti as director, appointment of M/s. ASKM & Co. as new statutory auditors to fill a casual vacancy, and appointment of Ms. Surabhi Verma as independent director. Shareholders also approved related party transactions for FY25-26 and FY26-27, authority for the board to give loans under Section 185, and the sale of three company undertakings (properties) located in Sangareddy District, Telangana. The company also received approval to change its name, modify its object clause, and adopt new Memorandum and Articles of Association. A total of 67 members participated in voting (65 via remote e-voting and 2 at the venue), with each resolution receiving over 99.87% support. The company is a post-CIRP entity, with NCLT having approved a resolution plan from a PRECA Solutions-led consortium in October 2024; trading in the stock remains currently suspended.
This is a procedural disclosure, but the approved resolutions give the new board wide authority to sell three real estate assets, change the company's name and business objects, and adopt a new constitutional framework — signaling a major restructuring phase. Shareholders should note that trading is currently suspended and promoter reclassification is pending exchange approval, so the stock remains illiquid in the near term.