Mahamaya Steel to hold 38th AGM on Sep 25, 2026, for FY26 results & director re-appointments
Mahamaya Steel Industries Limited will hold its 38th AGM on September 25, 2026, to adopt FY26 financial statements. Key agenda items include re-appointing directors Mr. Suresh Raman and Ms. Vanitha Rangaiah, approving auditors, and seeking authorization for borrowing up to ₹900 Crores. Related party transactions of up to ₹50 Crores and ₹150 Crores are also on the agenda.
The AGM covers crucial corporate governance aspects such as financial statement approval, director re-appointments, auditor appointments, and significant financial authorizations (borrowing limits, related party transactions). These decisions have a medium-term impact on the company's operations and governance.
The announcement is a routine notice for an Annual General Meeting, detailing agenda items and procedural information. While it includes financial statement adoption and director re-appointments, there are no significantly positive or negative financial results or strategic shifts presented in this specific announcement.
Mahamaya Steel Industries Limited has announced its 38th Annual General Meeting (AGM) will be held on Friday, September 25, 2026, at 12:00 noon, conducted through Video Conferencing (VC) or Other Audio Visual Means (OAVM).
The meeting agenda includes the adoption of audited standalone and consolidated financial statements for the financial year ended March 31, 2026. Key resolutions to be considered are the re-appointment of Mr. Suresh Raman as a Non-Executive Non-Independent Director and Ms. Vanitha Rangaiah as an Independent Director for a second term.
Additionally, the AGM will seek approval for the re-appointment of M/s. Chopra A J & Associates as Statutory Auditors for five years and the ratification of remuneration for M/s. Sanat Joshi & Associates as Cost Auditors for the financial year ending March 31, 2027. The company also plans to seek shareholder approval for overall borrowing limits up to ₹900 Crores, creation of charges on assets, increasing thresholds for loans/guarantees/investments under Section 186 of the Companies Act, 2013, and advancing loans/providing guarantees under Section 185.
Approval will also be sought for material related party transactions for the period September 30, 2026, to September 30, 2027, including purchase and sale of goods and services with Abhishek Steel Industries Private Limited (up to ₹50 Crores) and Devi Iron & Power Private Limited (up to ₹150 Crores), as well as availing unsecured loans aggregating up to ₹125 Crores for a solar power project and general corporate purposes from related parties such as Escort Finvest Private Limited and Abhishek Steel Industries Private Limited.
A plain-language summary of a public exchange filing by Mahamaya Steel Industries Limited. Read the original for the full detail.