Attached herewith the Proceeding of 35th AGM
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Velan Hotels Ltd held its 35th AGM on September 27, 2025 via video conferencing from 11:45 AM to 1:45 PM, with 45 shareholders participating out of 8,913 eligible shareholders as on the cut-off date of September 20, 2025. Managing Director and Chairman E.V. Muthukumara Ramalingam stepped aside during the meeting citing age and ill-health, and Executive Director M.R. Gautham was elected to chair the proceedings. The CFO and Company Secretary were absent due to other commitments. The Statutory Auditor's report for FY2024-25 contains qualifications/observations on the annual accounts. All 10 resolutions were passed with the required majority, including adoption of financial statements, director re-appointments, related-party transactions, sale of company assets, and alteration of the Main Objects of the Memorandum of Association.
Shareholders should note the auditor's qualifications on FY25 accounts and the approval of related-party transactions including asset sales, which may affect minority shareholder interests. The health-related withdrawal of the long-serving MD/Chairman and lack of attendance by the CFO and Company Secretary could raise governance concerns among investors.