Dear Sir/Madam, Submission of Notice of Extra-Ordinary General Meeting of the Company is schedued to be held on 12/02/2026 at 4.00 pm through Video Conferencing and Other Audio Visual Means
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
PBA Infrastructure Limited has called an Extra-Ordinary General Meeting on Thursday, February 12, 2026 at 4:00 p.m. via Video Conferencing to seek shareholder approval for appointing Mr. Suresh Kumar Sunderlal Bothra (DIN: 01191661, aged 85 years) as Managing Director for a 2-year term from November 13, 2025 to November 12, 2027, with a proposed remuneration of Rs. 1,00,000 per month. Because Mr. Bothra is above 70 years, the appointment requires a Special Resolution under Section 196(3)(a) of the Companies Act, 2013 and Regulation 17(1A) of SEBI LODR Regulations. The cut-off date for e-voting eligibility is February 5, 2026, with remote e-voting open from February 9 to February 11, 2026. Notably, the company's financial profile shows a negative net worth of Rs. (11,476.20) lakhs in FY25 despite a small net profit of Rs. 222.18 lakhs, and Mr. Bothra's background is in banking/treasury management rather than the construction industry the company operates in.
Shareholders need to vote on this appointment by the EGM date. While Mr. Bothra brings 50 years of banking and corporate governance experience, investors may weigh his advanced age (85), the modest remuneration, and the company's persistent negative net worth when deciding their vote. The resolution requires a Special Resolution (higher voting threshold), meaning management needs broader shareholder support to push it through.