Submission of Annual Report for the year ended 31st March, 2024 alongwith notice for AGM to be held on 30/09/2024 with all financial statements and reports.
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Samtel India Limited has submitted its Annual Report for the financial year ended 31st March 2024, along with the notice for its 42nd Annual General Meeting scheduled for Monday, 30th September 2024 at 10:30 AM at the registered office in New Delhi. The AGM agenda includes adoption of audited financial statements, re-appointment of Mrs. Alka Kaura as a director retiring by rotation, and re-appointment of Mr. Rajesh Kumar Bhalla and Mr. Dhruv Sethi as Independent Directors for further 5-year terms. Shareholders will also be asked to approve raising the borrowing limit to Rs. 50 crore, authority to create charges on company assets up to Rs. 50 crore, and authorization for investments, loans and guarantees (including related party transactions) up to Rs. 25 crore. Notably, the company disclosed that its equity shares were delisted by BSE vide order dated 8th May 2024 and that it has filed an appeal before SAT, which is pending. The registered office has also been shifted from Rajasthan to NCT of Delhi with effect from June 2023.
Shareholders should be aware that the equity shares are currently delisted from BSE and the appeal for restoration is pending at SAT, which is a significant concern for liquidity. The proposed resolutions would give the board wider financial flexibility through higher borrowing and investment limits, which could support future business plans but also increases financial risk.