Resignation of Company Secretary accepted by Board at its meeting held on 09.05.2026
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Board of Nilachal Refractories Ltd held a meeting on May 9, 2026, approving two major items. First, the sale/transfer/disposal of movable fixed assets including plant, machinery and capital work-in-progress, which amounts to disposal of substantially the whole undertaking of the company, up to Rs 2 crores, subject to shareholder approval under Section 180(1)(a) of the Companies Act 2013. Second, material related party transactions involving Track Director Private Limited, Wagons Private Limited, and Industrial Thermal Solutions (all having common directors). An EGM is scheduled for May 18, 2026. Additionally, Mr. Vijay Kumar Gupta resigned as Company Secretary and Compliance Officer (KMP) effective May 9, 2026, citing critical family emergency involving father's bypass surgery.
The resignation of the Company Secretary creates a governance gap requiring urgent replacement. The proposed asset sale of substantially the entire undertaking represents a major strategic restructuring that shareholders must approve at the upcoming EGM.