Godavari Biorefineries Limited concluded its Seventy-First Annual General Meeting on September 28, 2026, with members approving the adoption of financial statements for FY26 and several director reappointments.

The meeting was conducted through Video Conferencing (VC) and Other Audio-Visual Means (OAVM), commencing at 11:30 am and concluding at 11:49 am. A quorum was present with 91 members participating virtually. The proceedings were chaired by Samir Somaiya, Chairman and Managing Director.

Resolutions passed

Members approved the following ordinary business items:

• Adoption of the audited standalone and consolidated financial statements for the financial year ended March 31, 2026.
• Appointment of Raman Ramachandran as a Director retiring by rotation.
• Appointment of Suhas Godage as a Director retiring by rotation.

Special business resolutions included:

• Approval of terms of re-appointment and remuneration of Samir S. Somaiya as Managing Director effective April 1, 2027.
• Approval of terms of re-appointment and remuneration of Suhas Godage as Whole-time Director (Executive Director, Works-Sakarwadi) effective April 1, 2027.
• Appointment of Dinesh Sharma as a Director and approval of his terms as Whole-time Director (Executive Director, Works-Sameerwadi) for three years.
• Ratification of remuneration payable to the Cost Auditor.
• Contribution to charitable and other funds.
• Acceptance of deposits.

Meeting details and attendance

The company provided a live webcast of the proceedings. Remote e-voting commenced on September 25, 2026, and concluded on September 27, 2026. Tushar Shridharani of Tushar Shridharani and Associates LLP served as the scrutinizer for the electronic voting process.

Key attendees included Executive Directors Dr. Sangeeta Srivastava, Bhalachandra Bakshi, and Suhas Godage. Independent Directors Nitin Mehta, Prof. Lakshmi Kantam, Hemant Luthra, Sean Reagan, and Nandan Mehta were also present. Naresh Khetan served as Chief Financial Officer.

Voting results

The combined results of remote e-voting and voting during the meeting will be intimated to stock exchanges and uploaded on the company’s website and NSDL’s platform. The document notes that this summary does not constitute the official minutes of the proceedings.

Godavari Biorefineries Limited has received a demand notice of ₹12.88 crore from the Assistant Executive Engineer (E) O & M Sub Division, Hubli Electricity Supply Company (HESCOM), Mahalingpur, Karnataka.

The notice, dated September 25, 2026, pertains to cross-subsidy charges levied on open access power imported by the company between 2013 and 2016. The total amount demanded includes both principal and interest components.

Breakdown of the demand

The authority has specified the composition of the total demand as follows:

The interest component constitutes a significant portion of the total liability, exceeding the principal amount itself. This structure reflects the accumulation of charges over the ten-year period since the power was initially imported.

Company response and financial impact

In its disclosure to stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company stated that it has considered the principal amount of ₹5,90,95,383 as a contingent liability. The company is currently assessing the further impact of the notice and intends to take appropriate actions with the authority in due course.

What the numbers show

The demand highlights a regulatory exposure dating back over a decade. With interest accounting for roughly 54% of the total claim, the cost of delay in resolution has nearly doubled the original principal obligation. The company’s classification of only the principal as a contingent liability suggests it is contesting or negotiating the interest component, which represents the larger share of the financial burden.