Proceeding of 41st Annual General Meeting
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Source Industries (India) Ltd held its 41st AGM on September 27, 2025 via video conference, with 52 members attending out of 28,850 total shareholders on record date. A total of 14 resolutions were put to vote through remote e-voting (Sept 24-26, 2025) and e-voting during the AGM, and all were passed with requisite majority. Key items included adoption of FY25 audited financial statements, appointment of PRSV & Co. LLP as statutory auditors, re-appointment of Sudhir Reddy Posireddy as Chairman & MD and two whole-time directors, appointment of two independent directors, and increase in borrowing powers. Notably, shareholders also approved alteration of the Objects Clause, suggesting a possible shift in business focus. Voting was overwhelmingly in favour across all resolutions — approximately 6,799,367 votes (nearly 100%) were cast in favour versus just 9 votes against, reflecting strong promoter-driven support (promoters hold roughly 63% of shares).
Routine procedural completion of the AGM with no contentious items — shareholders should monitor the approved alteration of objects clause and expanded borrowing powers as these could signal upcoming business diversification or debt-funded expansion. Minimal public dissent (9 votes against across most resolutions) indicates near-unanimous approval.