Orient Press AGM approves Tarapur factory asset sale and director reappointments
- Orient Press held its 38th AGM on September 28, 2026, via video conferencing
- Shareholders approved the sale or lease of land and buildings at M.I.D.C. Tarapur Industrial Area
- Ramvilas Maheshwari was reappointed as Managing Director through a special resolution
- The meeting ratified the remuneration of cost auditors for the financial year ending March 31, 2027
*this image is generated using AI for illustrative purposes only.
Orient Press Limited held its 38th Annual General Meeting (AGM) on September 28, 2026, via video conferencing. The meeting focused on the ratification of auditor remuneration and the disposal of specific industrial assets.
A significant item of special business involved the approval to sell, transfer, or lease the whole of the land and buildings, along with plant, machinery, and factory equipment, at Plot No. G-73 in the M.I.D.C. Tarapur Industrial Area, Boisar. This resolution sought shareholder consent for the disposition of tangible and intangible assets associated with one of the company's factories.
Director Reappointments and Remuneration
The shareholders approved several resolutions regarding the leadership structure and compensation of the board. These included the reappointment of Ramvilas Maheshwari as Managing Director and Rajaram Maheshwari as Whole-Time Director (Executive Director) through special resolutions. Prakash Maheshwari was also reappointed as a Whole-Time Director via an ordinary resolution.
Additionally, the meeting addressed the payment of remuneration to Executive Directors who are promoters, seeking approval for amounts exceeding 5% of the net profits in a year, in compliance with SEBI (LODR) Regulations.
Key Resolutions Passed
The following items were put to vote during the proceedings:
- Adoption of audited financial statements for FY26.
- Re-appointment of Rajaram Maheshwari as a director retiring by rotation.
- Ratification of cost auditor remuneration for FY27.
- Special resolutions for the reappointment of MD and Executive Director.
- Approval for promoter director remuneration exceeding statutory limits.
- Disposal of Tarapur industrial area assets.
The voting results are expected to be declared within 48 hours following the receipt of the Scrutinizer's report.
Historical Stock Returns for Orient Press
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.72% | -1.14% | -4.88% | +34.83% | -4.64% | 0.0% |
How will the proceeds from the disposal of the Tarapur industrial assets be allocated, and will they fund new capital expenditures or reduce existing debt?
What is the strategic rationale behind divesting the entire plant and machinery at Plot No. G-73, and does this signal a shift away from traditional printing operations?
Given the approval for promoter remuneration exceeding 5% of net profits, how might this impact minority shareholder sentiment and future governance scrutiny?
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