Clenon Enterprises Limited held its 35th Annual General Meeting (AGM) on September 30, 2026, in Hyderabad. Shareholders approved special resolutions to sell company property and increase borrowing limits under the Companies Act, 2013.

The meeting commenced at 10:00 am and concluded at 11:00 am at the Navodaya Colony Welfare Association in Mehdipatnam. A total of 41 members attended the session, satisfying the quorum requirement. Nitin Kumar Mathur, Whole-time Director and Chairman, presided over the proceedings.

Resolutions passed

Members adopted both standalone and consolidated financial statements for FY26. The board also approved the re-appointment of a director retiring by rotation. Key special business items included authorizing the sale of property or undertaking under Section 180(1)(a) and setting new borrowing limits under Section 180(1)(c).

Additional approvals covered material related party transactions, loans and investments under Section 186, and alterations to the object clause of the Memorandum of Association.

Attendees and governance

The following directors attended the meeting in person:

Key managerial personnel present included Lingala Venkatram (Chief Financial Officer) and Sonali Soni (Company Secretary & Compliance Officer). TRM & Associates served as the statutory auditors. Pawan Jain & Associates acted as the scrutinizer for the voting process.

Voting and compliance

The company facilitated remote e-voting and polling at the venue for members who had not voted electronically. The scrutinizer’s report on the combined voting results will be submitted to the stock exchange within prescribed timelines. The Chairman thanked stakeholders for their continued trust in the company.

Clenon Enterprises Limited submitted its annual report for FY26 to the Bombay Stock Exchange on September 8, 2026. The filing confirms the company’s financial disclosures and regulatory compliance ahead of its upcoming Annual General Meeting.

The submission was made pursuant to Regulation 30 and Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Nitin Kumar Mathur, Whole-time Director, signed off on the document. The complete annual report, including the notice, directors’ report, and financial statements, is available on the company’s website.

Upcoming AGM Agenda

The 35th Annual General Meeting is scheduled for September 30, 2026, at 10:00 am at Navodaya Colony Welfare Association in Hyderabad. Shareholders will vote on several strategic initiatives, including a shift into renewable energy and significant capital restructuring measures.

Key agenda items include:

• Re-appointment of Whole-time Director Nitin Kumar Mathur.
• Adoption of standalone and consolidated financial statements for FY26.
• Approval of related-party transactions involving asset transfers.

Strategic Business Expansion

The company seeks approval to alter Clause III(A)(2) of its Memorandum of Association to broaden its operational scope. The new object clause will enable Clenon Enterprises to engage in the generation, production, and supply of renewable and non-conventional energy, including solar and wind power.

Additionally, the company plans to manufacture and install solar power systems, wind energy equipment, battery energy storage systems, smart meters, and electric vehicle charging infrastructure. This alteration aims to align the company’s main objects with emerging opportunities in the renewable energy sector.

Capital Restructuring and Borrowing

Shareholders will be asked to approve a special resolution under Section 180(1)(c) of the Companies Act, 2013, authorizing the Board to borrow funds exceeding the aggregate of paid-up share capital, free reserves, and securities premium. The total borrowing limit is capped at ₹200 crore at any point in time, over and above existing temporary loans from bankers. This facility is intended to meet working capital requirements, capital expenditure, and business expansion plans.

Furthermore, under Section 186, the Board seeks authority to make loans, provide guarantees, or invest in securities of other bodies corporate, including wholly-owned subsidiaries, up to a limit of ₹200 crore.

Related-Party Transactions

The AGM notice details two material related-party transactions requiring shareholder approval:

1. Sale of Investment to Promoter: The company proposes to sell its investment in a subsidiary to Mr. Srinivas Pagadala, Director and Promoter, at fair valuation. The transaction value is up to ₹3 crore. The consideration will be discharged by utilizing the unsecured loan provided by Mr. Pagadala to the company. This aims to reduce financial liabilities without immediate cash outflow.
2. Land Transfer to Subsidiary: Clenon Enterprises plans to transfer approximately 9.36 acres of land in Mahabubnagar District to its wholly-owned subsidiary, Clenon Properties Private Limited. The consideration, valued up to ₹3 crore, will be settled through the issue of equity shares by the subsidiary. This move is designed to optimize asset utilization and strengthen the capital structure.

Mr. Srinivas Pagadala holds a 68.74% stake in the listed entity. None of the directors or key managerial personnel, except Mr. Pagadala and his relatives, have an interest in these transactions.

E-Voting and Logistics

Pursuant to SEBI LODR Regulations, shareholders can cast votes electronically via Bigshare Services Private Limited. The voting window opens on September 27, 2026, at 9:00 am and closes on September 29, 2026, at 5:00 pm.

M/s Pawan Jain & Associates has been appointed as the scrutinizer for the e-voting process. The results will be declared on or after the AGM.