Reg. 34(1) Annual Report
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Awaiting price reaction for this filing.
The company filed its Annual Report for FY2024-25 along with the notice for its 40th AGM scheduled on September 25, 2025 at its Andheri (West) registered office. Ordinary business items include adoption of audited FY25 financial statements and re-appointment of Mr. Jayesh Babulal Bhansali as director (retiring by rotation). Special business includes the appointment of M/s. Rathi & Associates as Secretarial Auditors for a 5-year term (FY26 to FY30) at a proposed fee of Rs. 1,00,000 plus taxes, and the appointment of two new Independent Directors — Mr. Nilesh Sheth and Mrs. Mansi Srivastava — each for a first term of 5 years. The most material item for shareholders is the approval sought for material related party transactions with Met-Lok Hydro Pneumatics Private Limited (a company where a director's relative is a director), specifically for capital contribution and loans up to Rs. 50 crores per annum, repayable on demand, which exceeds SEBI's threshold for shareholder approval.
Routine AGM housekeeping items (accounts adoption, director re-appointment, secretarial auditor appointment) are standard and unlikely to move the stock. The key shareholder action item is voting on the material related party transaction resolution with Met-Lok Hydro Pneumatics — this signals continued inter-group lending exposure of up to Rs. 50 crore annually, which investors should evaluate for arm's-length pricing and conflict-of-interest concerns involving director Mr. Babulal Bhansali.