Burnpur Cement Limited (NSE: BURNPUR) concluded its 40th Annual General Meeting (AGM) on September 22, 2026, via Video Conferencing/Other Audio Visual Means (VC/OAVM). The meeting, which ran from 2:00 pm to 3:01 pm, focused on adopting audited financial statements for FY26 and ratifying key board appointments following a management change.

Board changes post-SARFAESI takeover

The AGM addressed significant governance shifts resulting from the change in management by UV Asset Reconstruction Company Limited (UV ARC) under Section 9(1)(a) read with Sections 15 and 16 of the SARFAESI Act, 2002. Three key directorial positions were confirmed during the proceedings:

• Mr. Ram Narain: Re-appointed as Non-Executive Director liable to retire by rotation. He is an ex-Indian Telecommunication Service officer with 37 years of experience in administration, finance, and operations.
• Mrs. Rashmi Goyal: Re-appointed as Independent Director for a five-year term effective October 9, 2025.
• Mr. Pawan Pareek: Redesignated as Whole Time Director and CFO for a two-year period effective May 18, 2026.

Financial adoption and auditor remarks

Shareholders considered and adopted the audited accounts for the financial year ended March 31, 2026. The Chairman noted that there were no qualifications, reservations, or adverse remarks in the Auditor's Report on the financial statements, which were therefore taken as read.

Voting and procedural compliance

The Company Secretary informed members that e-Voting facilities were provided through National Securities Depository Limited (NSDL). Remote e-Voting commenced on September 19, 2026, and concluded on September 21, 2026. During the meeting, shareholders who had not voted remotely were enabled to cast their votes live. Ms. Nupur Mimani, Practising Company Secretary, served as the Scrutinizer to ensure a fair and transparent voting process.

What the Numbers Show

The filing highlights a complete transition in board control to entities appointed by UV Asset Reconstruction Company. The simultaneous confirmation of the CFO (Pawan Pareek) and key independent directors (Rashmi Goyal, Ram Narain) suggests a stabilization phase in corporate governance immediately following the SARFAESI Act-driven management change.

Burnpur Cement Limited obtained no-objection from the Bombay Stock Exchange (BSE) to reclassify two promoters into the public category. The exchange issued its approval letter on September 15, 2026.

This development complements the earlier no-objection letter received from the National Stock Exchange (NSE) on the same date. The company had applied for the reclassification on January 24, 2026.

Regulatory Compliance

The company disclosed the receipt of the BSE approval pursuant to Regulation 30 read with Regulation 31A (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The BSE cited reference number LIST/COMP/KR/202/2026-27 for its approval letter.

Burnpur Cement must ensure compliance with subsequent relevant disclosures of material events related to this reclassification, as mandated by Regulation 31A. The company notified both exchanges on September 17, 2026. It acknowledged a delay in submitting the intimation post the 24-hour window due to an inadvertent oversight.

Promoter Details

The following promoters are subject to the category change:

Punam Kumari Sharma, Company Secretary and Compliance Officer, signed the intimation letter. The exchange granted the no-objection based on submissions made by the listed entity.