PRL_18th AGM (Notice & AR 2024-25)
PROZONER · price
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Awaiting price reaction for this filing.
Prozone Realty has filed the notice for its 18th Annual General Meeting scheduled for Friday, 26th September 2025 at 3:00 PM, to be held via video conferencing. The Annual Report for FY 2024-25 has been sent electronically to shareholders and is available on the company's website. Four items of business are on the agenda: adoption of FY25 audited financial statements, re-appointment of Mr. Bipin Gurnani (who retires by rotation), appointment of M/s HSPN & Associates as Secretarial Auditor for a 5-year term (FY2025-26 to FY2029-30) at a proposed FY26 remuneration of Rs. 1.25 lakh, and the re-appointment of Mr. Nikhil Chaturvedi as Managing Director for another 3 years from 27th February 2026 at a salary of Rs. 1.80 crore per annum plus commission. Notably, the company's profits were found inadequate under Section 197, making the MD re-appointment a Special Resolution requiring higher voting approval. E-voting window runs from 23rd to 25th September 2025, with a cut-off date of 19th September 2025.
This is a routine AGM notice but flags that the company's profits are inadequate to cover the proposed Managing Director's remuneration of Rs. 1.80 crore, which shareholders should factor in. Approval of MD re-appointment and Secretarial Auditor appointment requires member voting; otherwise, the filing has no immediate material impact on the stock price.