Proceeding of the 40th Adjourned Annual General Meeting held on Monday, 29th September, 2025.
Awaiting price reaction for this filing.
Viaan Industries Ltd (now renamed Redmax Footwears Limited) held its 40th Adjourned AGM on 29th September 2025 via video conferencing from 11:33 AM to 11:52 AM IST. A total of 22 members attended (1 from promoter group, 21 from public). Eleven resolutions were transacted, including adoption of audited financial statements for FY ended 31st March 2025, re-appointment of Mr. Ghanshyam Shukla as director, and appointment of three new independent directors (Amit Singhania, Rupali Singhania, and Himanshu Kumar). Five special resolutions were passed to approve material related party transaction limits with Lam N Fab, Hemant Jindal HUF, Hemant Jindal, Monika Jindal, and Neha Jindal. The chairman also noted that the company had previously been admitted into the Corporate Insolvency Resolution Process (CIRP) under the IBC in earlier financial years. Voting results were to be announced within the stipulated time after the meeting.
The AGM outcome is largely procedural, but the disclosure of past CIRP proceedings is a red flag investors should note. The approval of multiple material related party transactions warrants close scrutiny, as these can sometimes be used to transfer value to promoter-linked entities. New independent director appointments may signal governance restructuring post the insolvency period.