RITES Limited has informed the Exchange regarding proceedings of 51st Annual General Meeting of the Company held on September 23, 2025
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RITES Limited held its 51st Annual General Meeting (AGM) on September 23, 2025, via video conferencing, chaired by CMD Shri Rahul Mithal. Out of 4,08,189 total shareholders as on the cut-off date (September 17, 2025), 194 members attended, including a nominee of the Hon'ble President of India. Ten resolutions were tabled, including adoption of audited financial statements for FY25, confirmation of three interim dividends and declaration of a final dividend for FY 2024-25, re-appointment of Director (Finance) Shri Krishna Gopal Agarwal, and appointment of four new Independent Directors (Shri Likha Togu, Shri Rajbir Sharma, Dr. Dineshananda Goswami, and Smt. Purnima Kerketta). The CAG issued 'Nil' comments on the FY25 financial statements. The Secretarial Audit Report flagged the shortfall in Independent Directors (including a woman Independent Director) and the absence of a separate Independent Directors' meeting, issues the new appointments appear to address. The meeting concluded at 12:27 PM, with e-voting results to be announced separately.
Positive for shareholders: confirmation of three interim dividends plus a final dividend signals healthy cash returns for FY25. The appointment of four new Independent Directors (including a woman director) strengthens board composition and addresses earlier compliance observations. The alteration of Articles of Association is a housekeeping step. E-voting results on the 10 resolutions are awaited and will confirm shareholder sentiment.