Rasi Electrodes Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 20/05/2026 ,inter alia, to consider and approve To seek in-principle approval ....
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Rasi Electrodes Ltd has informed BSE that a Board meeting is scheduled for May 20, 2026. The key agenda includes seeking in-principle approval to sell or dispose of unencumbered vacant land situated at Magundarai village, Uthukottai Taluk, Tiruvallur District, Tamil Nadu. The company states this land has been held as surplus to unlock value. The meeting will also consider approving a postal ballot process to obtain shareholder approval under Section 180(1)(a) of the Companies Act, 2013, which is required for such asset disposals. Additionally, the board will authorize the Secretarial Auditor for various certifications and reports for the financial year ended March 2026.
The sale of surplus land may generate one-time proceeds for the company, but does not indicate any change to the core welding electrodes manufacturing business. Shareholders will need to approve the disposal via postal ballot.