Palash Securities Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 24, 2025
PALASHSECU · price
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Palash Securities Limited held its 11th AGM on September 24, 2025 via video conferencing, chaired by Ms. Shalini Nopany, with 35 members in attendance. All six items of business were passed, including adoption of FY25 audited standalone and consolidated financial statements, re-appointment of Ms. Shalini Nopany as director (retiring by rotation), and appointment of the Secretarial Auditor for five years from April 1, 2025 to March 31, 2030. Importantly, shareholders approved the sale of equity shares of Morton Foods Limited, the company's Material Subsidiary, via a Special Resolution, along with material related party transactions involving Morton Foods and other related parties. The Statutory Auditor's report on consolidated financial statements for FY24-25 carries a qualified opinion, which was read out during the meeting, while the standalone financials and secretarial audit reports were clean.
The approval to sell the equity stake in Morton Foods Limited (a Material Subsidiary) is a significant corporate action that could reshape the company's portfolio and unlock value for shareholders, but the qualified auditor opinion on consolidated financials is a yellow flag worth monitoring. Detailed voting results will be published within two working days.