B.R.Goyal Infrastructure Limited terminated its sub-contract agreement with Kevadiya Construction Limited (KCL) on July 25, 2026, ending its involvement in the construction and operation of an underground sewerage system in Mayiladuthurai Municipality. The termination was effected by mutual consent following a request from KCL citing operational and commercial reasons. As part of the settlement, KCL retains full responsibility for the further execution of the project directly with the employer, removing B.R.Goyal Infrastructure from future obligations under this specific contract.

The company disclosed the termination to BSE Limited pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing references SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, which mandates detailed disclosures for such agreements. The original sub-contract, dated June 18, 2025, had covered a five-year period for construction and operation and maintenance services for left-out areas in the municipality.

Agreement Details

The disclosure confirms that the parties are not related to the promoter or promoter group of B.R.Goyal Infrastructure Limited. Consequently, the transaction does not fall within the definition of related party transactions under the Listing Regulations. No shares were issued to either party in connection with this agreement, and no special rights such as director appointments or share subscription preferences were granted.

What the Numbers Show

The termination shifts the entire execution burden back to Kevadiya Construction Limited, insulating B.R.Goyal Infrastructure from potential cost overruns or delays associated with the remaining scope of work. By exiting the contract mutually, B.R.Goyal Infrastructure avoids litigation risks while preserving its relationship with KCL for future opportunities. The absence of financial penalties or compensation details in the disclosure suggests a clean break without immediate material impact on the company’s balance sheet, though the loss of future revenue streams from the five-year maintenance component remains a consideration for investors monitoring order book conversions.

B.R.Goyal Infrastructure Limited concluded its 01/2026-27 Extra-Ordinary General Meeting (EGM) on 29 June 2026, approving the issuance of convertible warrants to non-promoters aggregating ₹13,09,00,000. The meeting, conducted via Video Conferencing, sanctioned the allotment of up to 11,00,000 warrants at a price of ₹119 each, including a premium of ₹109. This capital raise aims to bolster the company's financial resources while adhering to regulatory frameworks under the Companies Act, 2013, and SEBI regulations.

The EGM commenced at 3:11 P.M. IST following a brief delay due to technical issues, with the requisite quorum present under Section 103 of the Companies Act, 2013. Ms. Ritika Jhala, Company Secretary and Compliance Officer, initiated the proceedings, and Mr. Brij Kishore Goyal, Managing Director, chaired the meeting. The facility for remote e-voting was available from 26 June 2026 to 28 June 2026, ensuring broad shareholder participation.

Resolutions Passed

Shareholders approved three special resolutions during the meeting. The primary resolution authorized the creation, offer, and allotment of 11,00,000 convertible warrants. Each warrant, with a face value of ₹10, was priced at ₹119, including a premium of ₹109. These warrants are convertible into one equity share each at the same price. The issuance targets non-promoters and is subject to provisions of the Companies Act, 2013, and SEBI (ICDR) Regulations, 2018.

Additionally, the company secured approval to borrow money in excess of limits specified under Section 180(1)(c) of the Companies Act, 2013. The third resolution authorized the creation of charges on the company's movable and immovable properties under Section 180(1)(a) of the Act. These measures provide the board with greater flexibility in managing the company's capital structure and securing assets for future financial requirements.

Voting Results

The scrutinizer's report confirmed that all three special resolutions were passed with the requisite majority. A total of 1,77,40,704 votes were polled, representing 74.46% of the total outstanding shares. All votes were cast in favour of the resolutions, with no votes against or abstentions recorded.

Meeting Details and Compliance

The meeting was held on the Webex platform, with the registered office in Indore deemed the venue. Mr. Ankit Joshi, Practicing Company Secretary, served as the Scrutinizer for the e-voting process. The company confirmed that no queries were received from shareholders during the session. The proceedings were recorded, and documents referred to in the notice were made available for electronic inspection.