Nitiraj Engineers Limited has informed the Exchange regarding Proceedings of Extraordinary General Meeting held on May 09, 2025
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Nitiraj Engineers Limited held its Extraordinary General Meeting on May 9, 2025 via video conferencing, which ran from 1:00 PM to 1:32 PM. Managing Director Rajesh Bhatwal chaired the meeting. Two special resolutions were put before shareholders: (1) regularization of Mr. Anil Nandkishor Bangad (DIN: 07186755) as an Independent Director, and (2) increasing the overall cap on managerial remuneration from 11% of the company's net profits. Remote e-voting was open from May 6 to May 8, 2025, with CA Yash Goyal appointed as the Scrutinizer. Shareholders also spoke during the meeting and appreciated the company's performance and growth.
Shareholders should await the voting results (expected within 2 working days) to confirm if the new Independent Director is approved and if the managerial remuneration ceiling is raised. A higher remuneration cap could lead to increased payouts to management in profitable years, while the new Independent Director adds to board oversight.