Davangere Sugar Company Limited Files Summary of 1st EGM Proceedings for FY 2026-27
Davangere Sugar Company Limited has submitted the summary of proceedings of its 1st Extra Ordinary General Meeting for FY 2026-27, held on April 24, 2026. The meeting, attended by 235 members, transacted five special business items including increase in authorized share capital, enhancement of borrowing limits, and approval for raising funds through FCCB and ECB. The detailed voting results will be submitted separately within the stipulated timeline under SEBI regulations.
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Davangere Sugar Company Limited has submitted the summary of proceedings of its 1st Extra Ordinary General Meeting (EGM) for FY 2026-27 to BSE Limited and National Stock Exchange of India Ltd. The meeting was held on April 24, 2026, at Thogataveera Samudhaya Bhavana, M.C.C. 'A' Block, Davangere – 577004, pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.
Meeting Details and Attendance
The EGM commenced at 11:30 A.M. and concluded at 11:45 P.M. A total of 235 members attended the meeting as per attendance records. The following Directors and Key Managerial Personnel were present:
| S. No. | Name | Designation |
|---|---|---|
| 1. | Mr. Shamanur Shivashankarappa Ganesh | Chairman and Managing Director |
| 2. | Mr. Abhijith Ganesh Shamanur | Executive Director |
| 3. | Mrs. Swathi Shamanur | Non-Executive Director |
| 4. | Mr. Onkrappa P. | Chief Financial Officer |
| 5. | Miss. Uma Singh | Company Secretary and Compliance Officer |
Leave of Absence
The Chairman informed members that leave of absence was granted to three Independent Directors due to prior professional commitments: Mrs. Vineeta Dilip Modak (DIN: 10763274), Mr. Achal Kapoor (DIN: 09150394), and Mrs. Hima Bindu Sagala (DIN: 09520601).
Special Business Transacted
The meeting transacted five special business items as per the Notice of the EGM:
| S. No. | Particulars of Business | Nature of Resolution |
|---|---|---|
| 1. | Increase in Authorized Share Capital and Alteration of Capital Clause of Memorandum of Association | Ordinary |
| 2. | To consider and enhance the borrowing limit of the Company over and above the limit as prescribed under Section 180 (1)(c) of the Companies Act, 2013 | Special |
| 3. | Approval under section 180(1)(a) of the companies act, 2013 inter alia for creation of mortgage or charge on the assets, properties or undertaking(s) of the company | Special |
| 4. | Increase in investment limits for foreign portfolio investors and non-resident Indians/ overseas citizens of India | Special |
| 5. | To approve raising of funds and issuance of securities through FCCB and/or ECB and/or any other permissible modes | Special |
The Company had provided remote e-voting facility from April 21, 2026, at 9:00 a.m. to April 23, 2026, at 5:00 p.m. Ms. Ashwini Inamdar, Practicing Company Secretaries, Mumbai, was appointed as the scrutinizer for the e-voting process. The combined results of remote e-voting and poll will be announced within two working days of the conclusion of the EGM and submitted to the stock exchanges as per SEBI Listing Regulations.
Historical Stock Returns for Davangere Sugar Company
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | -1.36% | -3.96% | +4.30% | -6.91% | -60.13% |
What specific expansion or acquisition plans might Davangere Sugar Company pursue with the increased authorized share capital and enhanced borrowing limits?
How will the approval for Foreign Currency Convertible Bonds (FCCB) impact the company's international investor base and global market positioning?
What assets is the company likely to mortgage or charge to secure the enhanced borrowing facilities, and how might this affect its balance sheet structure?
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