This is to inform that an Extra-ordinary General Meeting of shareholders of Venlon Enterprises Limited is scheduled on 27th June 2025 at 4.00 p.m. at the registered office of the company ....
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Awaiting price reaction for this filing.
Venlon Enterprises has called an EGM on 27 June 2025 at 4 PM at its registered office in Mysuru to seek shareholder approval on three special resolutions. First, the appointment of Ms. Madhura H.G. as Independent Non-Executive Director for a 5-year term (30 May 2025 to 29 May 2030). Second, approval to pay a salary of Rs. 5 lakh per month to Mr. C.D. Datwani, Chairman and Managing Director, for the period 1 July 2025 to 30 March 2026 — notably, he has drawn no remuneration during his current tenure. Third, re-appointment of Mr. C.D. Datwani as CMD for 3 more years from 31 March 2026 to 30 March 2029 at the same Rs. 5 lakh/month salary. The company also disclosed that all manufacturing operations (except wind mills, now disposed) have been shut since September 2018 and it has shifted to trading of goods and services, posting net losses of Rs. 128.47 lakhs in FY24 and Rs. 3,314.53 lakhs in FY23, though turnover recovered to Rs. 803.18 lakhs in FY24.
Shareholders will vote on new board induction, CMD remuneration, and CMD re-appointment despite ongoing losses and zero past remuneration — a positive first pay-out signal but reflects weak financial health. The company is in turnaround mode via trading activity, so investor focus should be on whether the new Independent Director (IT background) and continuity at CMD level translate into revenue recovery. Stock may see limited reaction unless voting outcome signals strategic change.