Procceding of 36th Annual General Meeting held on Tuesday, 30th September, 2025 at 11:30 A.M.
Awaiting price reaction for this filing.
Rushabh Precision Bearings held its 36th AGM on September 30, 2025 in physical mode at Mumbai from 11:35 AM to 12:10 PM, attended by 7 members. The Chairman, Biswajeet Mukherjee, informed shareholders that the company underwent significant restructuring under a Resolution Plan approved by NCLT Mumbai on October 20, 2023 as part of the Corporate Insolvency Resolution Process (CIRP), resulting in cancellation of existing share capital and fresh allotment of equity shares. The Record Date for Capital Reduction and Allotment was fixed as April 14, 2025, acknowledged by both BSE and NSE. A new ISIN application is pending due to a deadlock between depositories (NSDL/CDSL) and stock exchanges regarding relisting approvals, and some shareholders still hold shares in physical form without active Demat accounts. Four ordinary resolutions were passed including adoption of FY25 audited financials, re-appointment of Praveen Chandola, and appointment of Statutory and Secretarial Auditors.
For shareholders: the Secretarial Audit Report contains qualifications related to Board composition, committees, and shareholding pattern, signalling ongoing governance/compliance gaps post-CIRP. The unresolved new ISIN issue means trading remains disrupted, and shareholders may need to dematerialise physical shares to receive fresh equity under the Resolution Plan.