Intimation of Notice of Postal Ballot
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SRU Steels has issued a Postal Ballot notice for five resolutions to be voted on via e-voting between May 8 and June 6, 2025 (cut-off date May 2, 2025). Shareholders are being asked to approve: (1) the appointment of Mr. Vijay Sureshbhai Makvana as Managing Director for 5 years (April 21, 2025 to April 20, 2030) at Rs. 6 lakh per annum; (2) the appointment of Mr. Manish Manojbhai Rathod as Non-Executive Non-Independent Director; (3) the appointment of M/s TCS & Co as Statutory Auditor to fill the casual vacancy left by the resignation of M/s MSCS & Co in February 2025; (4) authority to advance loans or give guarantees to director-related entities up to Rs. 200 crore under Section 185; and (5) authority to make loans and investments up to Rs. 200 crore under Section 186.
These are mainly governance housekeeping items, but the Rs. 200 crore borrowing/investment limits are notable — they give the board wide latitude to deploy capital, which shareholders should monitor. Eligible shareholders must cast their votes electronically through CDSL by June 6, 2025, as results will be announced within 2 working days after that.