Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that at the 34th Annual ....
Awaiting price reaction for this filing.
Clenon Enterprises (formerly G.R. Cables, BSE: 517564) held its 34th AGM on September 29, 2025, where shareholders approved six resolutions. These included adoption of standalone financial statements, re-appointment of a director retiring by rotation, appointment of M/s. Pawan Jain & Associates as secretarial auditors for a 5-year term, and appointment of M/s. TRM & Associates as statutory auditors — replacing the resigned M/s. Gorantla & Co. — also for 5 years (till the 39th AGM in 2030). Members also cleared the sale of a property/undertaking under Section 180(1)(A) of the Companies Act for a consideration of not less than Rs. 3 crore (or market value as per SRO valuation). The buyer will be a wholly-owned subsidiary of Clenon (yet to be incorporated), making this a related-party transaction conducted at arm's length, with completion expected within 12 months.
Standard AGM housekeeping for most items, but the Rs. 3 crore-plus property sale to a related-party wholly-owned subsidiary warrants attention — investors should watch for the final sale deed, valuation details, and any impact on the company's asset base or future consolidated results.