Clarification and explanation on the delayed submission of the Proceedings of the AGM
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Poona Dal & Oil Industries Ltd held its 33rd Annual General Meeting on September 26, 2025, at its registered office in Kurkumbh, Pune, attended by 35 members. Six resolutions were tabled and all passed with near-unanimous approval (~99.9995% in favour). Key items approved include adoption of audited FY25 financial statements, reappointment of Mr. Rakesh V. Singh as Director (retire by rotation), cost audit fees for FY26, related party transactions for FY26, payment of managerial remuneration in excess of prescribed limits to Managing Director Mr. Sujit D. Parakh, and appointment of the Secretarial Auditor for one term. Promoters (holding 4,017,219 shares) voted entirely in favour via poll, while public non-institutional holders of 65,456 shares also voted overwhelmingly in favour. No video conferencing was provided, and Ms. Swati Runwal acted as scrutinizer for the e-voting and poll process.
Routine AGM business with all resolutions comfortably passed; the approval of managerial remuneration in excess of prescribed limits for the Managing Director is the most noteworthy item for minority shareholders to monitor. Low public participation (35 members, mostly promoter-driven voting) means outcome was largely predetermined.