78th AGM notice and Annual Report 2024-25 of Tulsyan NEC Limited
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Tulsyan NEC Limited has filed the notice for its 78th Annual General Meeting (AGM) scheduled for Wednesday, September 17, 2025, at 11:30 AM IST via Video Conferencing, along with the Annual Report for FY 2024-25. Shareholders will vote on adopting the audited standalone and consolidated financial statements, re-appointing Mr. Sanjay Agarwalla as a Director, and appointing M/s. M Damodaran & Associates LLP as Secretarial Auditors for a 5-year term at Rs. 67,000 annually. Key resolutions also include re-appointing Mr. Somasundaram Ponsing Mohan Ram as Independent Director for a second 5-year term, and approving remuneration for the Executive Chairman and two Whole Time Directors for periods of 2 years each in case of inadequate profits. Material related party transactions are proposed with Tulsyan Smelters Private Limited worth up to Rs. 1,410 crores over 3 years and with wholly-owned subsidiary Chitrakoot Steel and Power Private Limited worth up to Rs. 235 crores over 3 years. The AGM will use CDSL's e-voting platform, with cut-off date set as September 10, 2025.
Shareholders should review the proposed related party transactions (Rs. 1,645 crores combined over 3 years) and director remuneration approvals, as these require member voting. The large RPT limits with Tulsyan Smelters (where directors are interested) may draw investor attention given the promoter-linked nature of the counterparty.