Reg. 34 (1) Annual Report
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Rajasthan Tube Manufacturing Company has issued the notice for its 39th AGM scheduled for Saturday, July 19, 2025 at 10:00 AM in Jaipur. Key business items include adoption of audited financial statements for FY ended March 31, 2025, appointment of new statutory auditors M/s UCC & Associates LLP to fill the casual vacancy caused by the resignation of M/s Giriraj & Lohiya on June 20, 2025, and appointment of M/s Khushbu Kanwar & Co. as secretarial auditors for a 5-year term. The company also proposes to increase its authorised share capital from Rs. 8 crore to Rs. 60 crore and issue up to 55 crore equity shares. Additionally, Mr. Pankaj Jain will be appointed as Whole-Time Director and Mr. Mahendra Kumar Modi as Independent Director, each for 5-year terms.
The mid-year auditor change is the most material event for shareholders and may raise governance questions. The proposed massive increase in authorised capital (7.5x) signals a potential large equity dilution, which could significantly affect shareholding if the new shares are issued.