Notice of Extra-Ordinary General Meeting schedule to be held on Tuesday March 24, 2026
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Prabhu Steel Industries has called an Extra-Ordinary General Meeting (EOGM) on Tuesday, March 24, 2026, at 9:00 AM at its registered office in Nagpur. Two special resolutions are on the agenda. The first seeks shareholder approval to set a limit of up to Rs. 100 Crores for the Board to make investments, give loans, or provide guarantees and securities under Section 186 of the Companies Act, 2013, superseding all earlier limits. The second resolution seeks approval to revise the remuneration of Mr. Harish Agrawal, a Non-Executive Non-Independent Director, to up to Rs. 15 Lakhs per annum effective April 1, 2025, even if the company has no profits or inadequate profits. Remote e-voting via NSDL will be open from March 20 to March 23, 2026, with the record (cut-off) date set as March 16, 2026.
Shareholders should review and vote on both special resolutions. Approval of the Rs. 100 Crore Section 186 limit will give the Board broad flexibility to deploy funds into investments or loans. The revised director pay is modest in size (Rs. 15 lakh/year) and is not expected to materially affect financials. No immediate material impact on share price is expected from the EOGM itself.