Outcome of the Meeting of Board of Directors held on Saturday, 28th February, 2026
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The Board of Directors of Prabhu Steel Industries Ltd met on February 28, 2026 and approved several items. First, the Board recommended a special resolution to increase the limits for loans and investments by the company under Section 186 of the Companies Act, 2013. Second, on the recommendation of the Nomination and Remuneration Committee, it approved a revision in the remuneration of Mr. Harish Agrawal, a Non-Executive Non-Independent Director, to up to Rs. 15 Lakhs per annum, effective from FY 2025-26. An Extra Ordinary General Meeting (EOGM) has been fixed for Tuesday, March 24, 2026 at 9:00 A.M. at the registered office in Nagpur to seek shareholder approval for these items. E-voting will be open from March 20 to March 23, 2026, and M/S Jaymin Modi & Co has been appointed as the Scrutinizer for the EOGM.
Shareholders should note the EOGM on March 24, 2026 where their approval will be sought for both the increase in loan/investment limits and the higher director remuneration. A higher investment/loan limit could mean the company plans to expand its lending or investment activities, which may affect risk exposure. The modest increase in director pay is unlikely to materially impact the stock but reflects governance decisions shareholders will vote on.