Notice of Extra Ordinary General Meeting
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Source Industries (India) Ltd has called an EGM on Monday, March 30, 2026 at 11:30 AM via video conferencing, with two special resolutions on the agenda. Resolution 1 seeks shareholder approval to change the company's name to 'Arka Defence & Locomotives Limited' to reflect its strategic expansion into defence manufacturing, locomotive systems, rail infrastructure and allied engineering, aligned with the government's Make in India push. Resolution 2 seeks approval to adopt a new set of Articles of Association in line with the Companies Act, 2013. The cut-off date for shareholder eligibility is March 23, 2026, and remote e-voting runs from March 27 (9:00 AM) to March 29 (5:00 PM) 2026 via CDSL, with Mr. Jineshwar Kumar Sankhala as scrutinizer. Notably, the Practicing Chartered Accountant's certificate under SEBI Regulation 45(1)(b) and 45(1)(c) states that the company has not changed its main activity in the preceding one year and has not invested in the new activity/project to the required threshold, which may be a point to watch.
If approved, the rebranding signals a strategic pivot into defence and railway sectors, potentially broadening investor interest, but the CA's flagging of non-compliance with Reg 45(1)(b) and 45(1)(c) revenue and investment thresholds raises governance concerns. Shareholders should weigh the credibility of the pivot against the stated financials before voting.