Proceeding of the 91st Annual General Meeting of the Company held on Monday, 8th September, 2025
Awaiting price reaction for this filing.
Sir Shadi Lal Enterprises held its 91st AGM on September 8, 2025 via video conferencing, attended by 117 members. Chairman and Managing Director Mr. Tarun Sawhney briefed shareholders that the company became a subsidiary of Triveni Engineering & Industries Limited (TEIL) effective June 20, 2024. The company has paid off around 70% of its old cane dues and is up to date on current season dues, though the distillery did not operate in 2024-25 due to repair requirements. A major proposed Composite Scheme of Arrangement was discussed: amalgamation of the company with TEIL and demerger of TEIL's power transmission business into a new listed entity called Triveni Power Transmission Limited, which has received no-objection from BSE and NSE and is now before the NCLT Allahabad. All four ordinary resolutions were put to e-vote, including adoption of FY25 financial statements, re-appointment of Mr. Tarun Sawhney as director, ratification of cost auditor remuneration, and appointment of a new secretarial auditor for five years. Auditors had no qualifications on the FY25 financial statements.
Shareholders should watch the NCLT process closely, as the proposed merger with Triveni Engineering and creation of a separately listed power transmission entity could materially change the shareholding structure and value. Voting results on the four resolutions will be filed separately and are awaited.