The Board of Directors of Clenon Enterprises Limited (Formerly known as G.R.Cables Limited), have at their meeting held on Thursday, the 04th day of September, 2025, approved the Appointment ....
Awaiting price reaction for this filing.
Clenon Enterprises held a board meeting on September 4, 2025, where the directors noted the resignation of statutory auditor M/s Gorantla & Co. (FRN: 016943S) effective September 3, 2025, citing pre-occupation with other assignments. To fill the resulting casual vacancy, the board appointed M/s TRM & Associates, Chartered Accountants (FRN: 009224S) as the new statutory auditor, and also recommended their appointment for a 5-year term subject to shareholder approval at the 34th AGM. Additionally, the board approved setting up a new wholly-owned subsidiary called 'Clenon Properties Private Limited' and the sale of an unused land and shed in Mahabubnagar district to this new subsidiary, subject to shareholder approval under Section 180(1)(a) of the Companies Act. The 34th AGM is scheduled for September 29, 2025, with e-voting from September 26-28, 2025, and the company also appointed M/s Pawan Jain & Associates as secretarial auditor for 5 years.
The mid-term change of statutory auditor and the restructuring into a new subsidiary with transfer of idle land are routine corporate housekeeping but should be tracked for any related-party implications. Investors should watch the 34th AGM on September 29, 2025, where shareholder approvals for the new subsidiary, land sale, and auditor appointments will be sought.