Extra Ordinary General Meeting scheduled to be held on Wednesday, March 11, 2026 to transact the following business: 1. Amendment in the Main Object Clause of the MEmorandum of the association 2. ....
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Sahara Maritime Limited has called an EGM on March 11, 2026 with four agenda items. Item 1 seeks shareholder approval to amend the Main Object Clause of the MOA by adding a sweeping new object (Clause 4) allowing the company to act as trader, distributor, dealer, importer/exporter, e-commerce and tele-marketing player across agricultural, industrial, consumer, metals, jewellery, electronics and many other product categories — a significant diversification from its current logistics focus. Items 2 and 3 seek approval to revise the remuneration of Chairman & Managing Director Sohrab Rustom Sayed and Executive Director Nadeem Aboobakar Hira from ₹7.20 lakh to ₹12 lakh per annum, effective April 1, 2026, with minimum remuneration provisions applicable even in years of inadequate profits. Item 4 proposes changing the designation of Khalid Sohrab Sayed (son of the CMD and promoter) from Non-Executive Director to Executive Director for a 5-year term at ₹6 lakh per annum. FY24-25 turnover was ₹25.24 crore with a thin net profit of ₹33.27 lakh, giving context to the pay hikes.
The MOA amendment opens the door to broad-based trading/diversification beyond logistics, which could be positive if executed well but also raises questions about capital allocation and focus. The director pay hikes are modest in absolute terms but the promotion of the CMD's son to an executive role signals continued family control of operations.