The Board of Directors of Clenon Enterprises Limited, have at their meeting held on Thursday, the 04th day of September, 2025, interalia considered and approved, along with other business ....
Awaiting price reaction for this filing.
Clenon Enterprises' Board met on 4 September 2025 and approved several key items. The Board accepted the resignation of statutory auditor M/s Gorantla & Co (due to pre-occupation with other assignments, effective 3 September 2025) and appointed M/s TRM & Associates as the new statutory auditor to fill the casual vacancy, also recommending them for a 5-year term at the upcoming AGM. The Board approved the incorporation of a wholly owned subsidiary named 'Clenon Properties Private Limited' and proposed selling an unused land and shed at Rangareddyguda Village, Mahabubnagar District, to this new subsidiary, subject to shareholder approval under Section 180(1)(a). The 34th AGM is scheduled for 29 September 2025, with e-voting from 26-28 September 2025 and book closure from 23-29 September 2025. The Board also approved the 34th Board's Report for FY2024-25 and appointed Pawan Jain & Associates as secretarial auditor for 5 years.
The change in statutory auditor and the proposal to hive off unused land/shed into a new wholly owned subsidiary are administrative restructuring moves that may streamline the company's assets but are unlikely to move the stock materially on their own. Shareholders should watch the 29 September AGM where the property sale and auditor appointment require their approval.