Rama Petrochemicals Limited concluded its 40th Annual General Meeting (AGM) on August 6, 2026, with shareholders approving key governance and capital allocation measures. The meeting, held via Video Conferencing/Other Audio Visual Means (VC/OAVM), saw the passage of special resolutions authorizing the Board to extend loans, provide guarantees, or make investments totaling up to ₹300 crore. Additionally, members approved material related party transactions for the upcoming financial year, providing the management with necessary flexibility for strategic operations.

The proceedings were conducted in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Haresh D. Ramsinghani, Managing Director and Chairman of Rama Petrochemicals Limited, presided over the meeting. The quorum was declared present at 3:00 p.m., allowing the business to commence. Thirty-five members participated through VC/OAVM, while no proxies were appointed as the virtual format did not permit proxy voting.

Key Resolutions Passed

The agenda included both ordinary and special business items. Under ordinary business, the members adopted the audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026, along with the reports of the Board of Directors and statutory auditors. Furthermore, Nilanjana H. Ramsinghani was re-appointed as a Director after retiring by rotation.

The special business segment focused on empowering the Board with broader financial authority. The resolutions passed are detailed below:

Governance and Compliance

Statutory Auditors Sunil Khandelwal of M/s Khandelwal and Mehta, Chartered Accountants, were present during the meeting. The Chairman highlighted qualifications contained in the Auditor’s Report before proceeding with the resolutions. E-voting commenced on August 3, 2026, at 9:00 a.m. (IST) and concluded on August 5, 2026, at 5:00 p.m. (IST). Members attending the virtual meeting who had not voted earlier were permitted to cast their votes during the session.

Ms. Kavita Raju Joshi, a Practicing Company Secretary, served as the Scrutinizer for the meeting. She is responsible for submitting the final voting results to the Bombay Stock Exchange Limited and placing them on the company’s website. The meeting concluded at 3:35 p.m. with the Chairman declaring it closed after addressing queries from registered speakers.

Rama Petrochemicals Limited has disclosed a penalty of ₹17.2 lakh imposed by the BSE for a delay in filing a listing application following the conversion of warrants. The disclosure was made in the Annual Secretarial Compliance Report for the financial year ended March 31, 2026, submitted to the exchange. The report, issued by M/s. Ashok Patel & Associates, Practicing Company Secretaries, confirms the company's compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and other applicable guidelines during the review period, barring this specific deviation.

The non-compliance pertains to Schedule XIX of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The company allotted equity shares on a preferential basis pursuant to the conversion of warrants on March 26, 2025. Regulations required the application for listing of these securities to be filed with the exchange by April 15, 2025. However, the listing application was filed on June 27, 2025, resulting in the deviation.

Penalty and Management Response

Following the delay, the BSE imposed a fine of ₹17.2 lakh. The compliance report notes that the company paid the fine under protest on January 19, 2026. Management stated that it had made a representation to the stock exchange seeking a waiver of the fine. The exchange did not consider this representation, leading to the payment of the penalty.

Compliance Status

Apart from the aforementioned incident, the report indicates that Rama Petrochemicals Limited has complied with all provisions of the examined regulations and circulars. The scope of the audit included the SEBI Act, 1992, the Securities Contracts (Regulation) Act, 1956, and specific regulations such as the SEBI (Prohibition of Insider Trading) Regulations, 2015, and the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The practicing company secretary verified the maintenance of statutory records, the functionality of the company's website, and the adoption of necessary board-approved policies. The report confirmed that no director of the company is disqualified under Section 164 of the Companies Act, 2013, and that there were no actions taken by SEBI or the stock exchanges against the entity, its promoters, or directors during the review period.