Appointment of Secretarial Auditor, Cost Auditor and Internal Auditor of the Company
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Rathi Steel & Power's board met on September 3, 2025, and approved the appointment of three auditors: M/s Sameer Bhatnagar & Company as Secretarial Auditor for a 5-year term (FY2025-26 to FY2029-30), M/s R.M. Bansal & Co. as Cost Auditor for FY2025-26, and M/s DIT & Company as Internal Auditor for FY2025-26. The board also approved alterations to the authorized share capital — creating 8,51,853 new equity shares and converting 4,08,147 unissued preference shares into equity shares — taking total authorized capital to Rs. 132.50 crore (12.25 crore equity + 1 crore preference shares). Additionally, the board approved the 54th AGM notice (to be held on September 30, 2025 via video conferencing), the Annual Report for FY2024-25, and the appointment of a scrutinizer for the AGM.
These are largely routine governance and compliance actions — auditor appointments and share capital restructuring that require shareholder approval at the upcoming AGM. The preference share conversion into equity is a cosmetic capital structure change with no immediate dilution impact, as no new shares are being issued to outside parties.