Hariyana Ship Breakers Ltd concluded its 45th Annual General Meeting on September 30, 2026, with all proposed resolutions passing with requisite majority. The meeting was conducted virtually, marking the company's continued adherence to digital governance protocols.

Meeting proceedings and format

The Annual General Meeting commenced at 9:00 am through Video Conferencing and Other Audio Visual Means. Mr. Rakesh Reniwal, Managing Director, chaired the session, while Mrs. Pooja Singh served as the Company Secretary and Compliance Officer. The requisite quorum was present, allowing the meeting to proceed without physical attendance.

The notice convening the meeting, dated September 5, 2026, along with the Annual Report for the financial year ended March 31, 2026, had been circulated electronically to shareholders. Due to the virtual nature of the event, proxy appointments were not applicable except for authorized representatives of corporate shareholders.

Key resolutions approved

Shareholders considered and adopted the audited standalone and consolidated financial statements for FY26. The Board’s report and Statutory Auditors’ reports were also accepted as part of this resolution.

Mr. Shantisarup Reniwal (DIN: 00040355), who retired by rotation, was reappointed as a director following his eligibility confirmation. Additionally, members approved the remuneration payable to M/s. Kewlani & Associates, Cost Accountants, for auditing cost records for the financial year ending March 31, 2027.

Voting and compliance details

Remote e-voting facilities remained open from September 27, 2026, to September 29, 2026. Electronic voting was also available during the live session for members who had not voted remotely. Mr. Dilip Bharadiya, Practicing Company Secretary, served as the Scrutinizer for both remote and live voting processes.

The scrutinizer’s composite report will be uploaded to the company’s website and submitted to the stock exchanges. No speakers registered for the AGM attended the live session. The meeting concluded at 9:11 am with a vote of thanks to the Chairman.

Hariyana Ship Breakers Ltd promoter Rajeev Shantisarup Reniwal increased his equity holding to 31.69% after acquiring 4,14,800 shares (6.73% of paid-up capital) from his mother, Mrs. Lalitadevi Shantisarup Reniwal.

The transaction, executed as an inter-se transfer within the promoter group, was disclosed to BSE on September 24, 2026. The filing cited Regulation 10(6) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, noting that the requisite prior intimation under Regulation 10(5) was inadvertently not submitted within the prescribed timeline.

Transaction details and regulatory compliance

The acquisition occurred in two tranches: 30,000 shares on August 18, 2026, and 3,84,800 shares on August 20, 2026. As the transfer took place between immediate relatives within the promoter group, it qualified for exemption from making an open offer under Regulation 10(1)(a)(i) and (ii) of the SAST Regulations. No consideration was involved as the shares were transferred by way of gift.

The acquirer expressed regret for the inadvertent omission regarding the prior disclosure timeline and assured due care for future compliance. The company has taken note of the intimation and submitted it to the stock exchange for records in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Promoter group holding stability

Data from the Regulation 29(1) disclosure confirms that while individual stakes shifted, the aggregate promoter group holding remained static. Before the acquisition, the acquirer along with Persons Acting in Concert (PACs) held 46,21,814 shares, representing 74.95% of total voting capital. After the acquisition, this figure remained unchanged at 46,21,814 shares or 74.95%.

The PACs listed in the filing include Sanjeev Shantsarup Reniwal, Shantsarup R Reniwal, Shantsarup Reniwal & Sons, Shalini Sanjeev Reniwal, Unnati Reniwal, Sweety R Reniwal, Rakesh Shantsarup Reniwal, and the transferor, Lalitadevi S Reniwal.

Shareholding pattern changes

The following table outlines the shift in shareholding percentages resulting from the gift transfer:

What the numbers show

The data reveals a consolidation of promoter holding rather than a net change in total promoter group ownership. While the acquirer's individual stake rose from 24.96% to 31.69%, the seller's holding dropped to zero. This indicates that the entire block of 4,14,800 shares previously held by Mrs. Lalitadevi Reniwal was transferred to her son, Mr. Rajeev Reniwal, effectively concentrating voting rights within a single immediate family member without altering the aggregate promoter group percentage.