Taken on record the special notice dated 16th June 2025 under section 115 of the Companies Act 2013 received from the 3 shareholders asking to convene an EGM for moving a resolution for ....
Awaiting price reaction for this filing.
The Board of Binny Ltd met on 19 June 2025 and discussed plans to revoke the suspension of trading of its shares on BSE, along with strategies for raising and deploying funds for growth. Three shareholders jointly holding 2,40,000 shares (over 1% of voting capital) had submitted a special notice under Section 115 of the Companies Act seeking an EGM to remove Mr. Rajeev Bakshi as Director. The Board rejected the requisition, noting Mr. Bakshi was already removed in May 2024 because his appointment was void from the start — he wasn't empanelled as required under Section 150, and had alleged direct (Rs. 3 Crore with Geetanjali Enterprises) and indirect (Rs. 29 Crore with RRB Energy) pecuniary conflicts. The Board called the special notice infructuous and the current Board was reconstituted in January 2025 under court supervision.
The EGM demand won't translate into shareholder action since Mr. Bakshi is already off the Board, removing that uncertainty. The more meaningful item for investors is the BSE trading suspension — any concrete progress toward revoking it could materially improve share liquidity and price discovery.