Intimation for Extra Ordinary General Meeting (EGM), fixation of cut-off date for e-voting, period of remote e-voting.
SHBAJRG · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Shri Bajrang Alliance Ltd has called an Extra Ordinary General Meeting (EGM) on Wednesday, April 30, 2025 at 4:00 PM via video conferencing. The cut-off date for e-voting eligibility is April 23, 2025, with remote e-voting open from April 27 (9:00 AM) to April 29 (5:00 PM). Three special resolutions are on the agenda: (1) approval of material related party transactions with Shri Bajrang Power and Ispat Limited (a promoter group company) up to Rs. 500 crore for FY 2025-26, involving purchase of steel, billets, and furnace oil, and sale of billets and frozen foods; (2) approval of material related party transactions with Shri Bajrang Chemical Distillery LLP up to Rs. 500 crore for FY 2025-26; and (3) re-appointment of Mr. Archit Goel as Whole Time Director for 5 years (Feb 11, 2025 to Feb 10, 2030) with a monthly salary scale of Rs. 4 lakh to Rs. 6 lakh. The related parties of the company will not be allowed to vote on the RPT resolutions.
Shareholders should review the two large related party transaction proposals carefully, as both involve up to Rs. 500 crore each with promoter group entities. The re-appointment of Mr. Archit Goel, son of Chairman Mr. Narendra Goel, includes a provision for minimum remuneration even in case of inadequate profits, which requires shareholder approval. These resolutions require special majority to pass, and outcomes will depend on the EGM voting results.