Intimation under Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The company had issued and allotted 24 lakh (24,00,000) 6% Non-Convertible Redeemable Preference Shares of Rs. 100 each (total Rs. 24 crore), fully paid up, to the Promoter/Promoter Group on a private placement basis during FY 2022-23. Dividends on these preference shares have remained unpaid for two years. As a result, under Section 47(2) of the Companies Act, 2013, these preference shareholders have now acquired voting rights on all resolutions in the notice for the AGM dated 17th May 2025, to be held on 21st August 2025. Their voting rights are proportional to the paid-up capital of the preference shares relative to the equity share capital.
Promoter-group preference shareholders, holding Rs. 24 crore worth of preference shares, now have voting rights at the upcoming AGM, which could influence the outcome of shareholder resolutions. The unpaid dividends also indicate short-term cash flow stress on the company.