Indus Aluminium Recyclers Limited (Formerly known as Containerway International Limited) convened its 01/2026-27 Extra Ordinary General Meeting on July 2, 2026, to seek shareholder approval for increasing financial limits for investments and loans. The meeting, held via video conferencing, was chaired by Managing Director Sanket Sanjay Deora and included the participation of key managerial personnel and 24 members. The resolutions aimed at enhancing the company's flexibility in extending credit and providing securities were placed before the members for their consent.

Key Resolutions Presented

The EGM addressed two special resolutions critical to the company's financial operations. The first resolution sought approval to increase the limits for making investments, extending loans, and giving guarantees or providing securities in connection with loans to persons or bodies corporate. The second resolution focused on approving transactions under Section 185 of The Companies Act, 2013, which governs loans to directors and related entities.

Meeting Proceedings and Voting

M/s. Utkarsh Shah & Co., Practicing Company Secretary, was appointed as the scrutinizer to supervise the e-voting process. Remote e-voting commenced on June 29, 2026, and concluded on July 1, 2026, at 5 pm. Members who did not participate in remote e-voting were given the opportunity to vote during the meeting. The facility remained available for 15 minutes post the meeting's conclusion at 4:15 p.m.

Attendance and Disclosure

The meeting was attended by the Chairman & Managing Director Sanket Deora, Additional Director Vansh Arora, Additional Director and CFO Kunal Arora, and Additional Independent Director Pankeet Pankajkumar Aundhiya. The company confirmed that the voting results will be declared and disseminated on the stock exchanges on or before July 4, 2026. The results will also be uploaded on the websites of the company and Central Depository Services Limited.

Indus Aluminium Recyclers Limited has scheduled an Extra-Ordinary General Meeting (EGM) on July 2, 2026, to seek shareholder approval for increasing the limits on investments, loans, and guarantees to ₹200 crore. The meeting, convened through video conferencing, aims to authorize the company to exceed statutory investment limits and provide financial assistance to entities where directors may have an interest.

The Board of Directors approved the agenda during a meeting held on June 10, 2026. The resolutions seek to empower the company to make investments, extend loans, and provide guarantees or securities up to ₹200 crore, over and above the existing limit of 60% of the paid-up share capital and free reserves. This approval is sought pursuant to Section 186 of the Companies Act, 2013, to facilitate ongoing business requirements and compliance.

Additionally, the company proposes to approve transactions under Section 185 of the Companies Act, 2013. This resolution authorizes the Board to advance loans or provide guarantees and securities to subsidiaries, associates, joint ventures, or other entities where directors are deemed interested, up to a sum of ₹200 crore at any point in time. The Board stated that these funds would be deployed for principal business activities, capital expenditure, and working capital requirements.

The EGM will be conducted entirely through Video Conferencing or Other Audio-Visual Means (OAVM) in compliance with Ministry of Corporate Affairs and SEBI circulars. Shareholders will not be permitted to attend the meeting physically. The company has appointed Mr. Utkarsh Shah, a Practicing Company Secretary, as the Scrutinizer to conduct the e-voting process.

To ensure broad participation, the company has established a remote e-voting period. Shareholders holding shares as of the cut-off date, June 26, 2026, are eligible to vote. The remote e-voting facility will be available from 09:00 a.m. on June 29, 2026, until 05:00 p.m. on July 1, 2026. The notice of the EGM has been dispatched to members exclusively through electronic mode.

The company has clarified that interested shareholders will not be eligible to vote on the resolution regarding transactions under Section 185. The voting results will be declared within two working days of the meeting's conclusion and will be available on the company's website.