Sanathnagar Enterprises to appoint Walker Chandiok as auditor at AGM
- Sanathnagar Enterprises schedules 79th AGM for September 30, 2026
- Walker Chandiok & Co LLP proposed as new statutory auditors for five years
- Two independent directors seek re-appointment for second five-year terms
- Promoter group shareholding to drop from 74.99% to 72.70% post-reclassification
*this image is generated using AI for illustrative purposes only.
Sanathnagar Enterprises will hold its 79th Annual General Meeting on September 30, 2026. The meeting is scheduled for 11:30 am and will be conducted through Video Conference or Other Audio-Visual Means.
The company issued the notice on August 21, 2026, pursuant to Regulation 30 of the SEBI Listing Regulations and relevant circulars from the Ministry of Corporate Affairs. Advertisements regarding the meeting were published in the Financial Express (All India Edition) and Mumbai Lakshdeep (Mumbai Edition).
Meeting Details
The AGM aims to transact business as set forth in the official notice. Electronic copies of the notice and the Annual Report for FY25-26 will be dispatched to members with registered email addresses. These documents are also available on the company’s website and the BSE Limited portal.
Physical copies of the notice and annual report will be sent only upon request from shareholders. In accordance with Regulation 36 of the Listing Regulations, the company is sending letters with website links to shareholders who have not registered their email addresses.
Key Agenda Items
The Board has proposed several key resolutions for shareholder approval:
- Statutory Auditor Appointment: M/s. Walker Chandiok & Co LLP, Chartered Accountants, will be appointed as Statutory Auditors for a term of five consecutive years, replacing M/s. MSKA & Associates LLP. The remuneration for FY26-27 is set at ₹4,00,000, excluding applicable taxes and out-of-pocket expenses.
- Director Re-appointments:
- Mr. Rameshchandra Chechani retires by rotation and offers himself for re-appointment as a Non-Executive Non-Independent Director.
- Ms. Ritika Bhalla and Mr. Jinesh Shah seek re-appointment as Independent Directors for a second term of five consecutive years, effective July 22, 2027, to July 21, 2032.
- Promoter Reclassification: Shareholders will vote on reclassifying Continuous Forms (Calcutta) Limited, N P S Shinh, and Manita Shinh from the "Promoter and Promoter Group" category to the "Public" category. This move involves a total shareholding of 72,090 equity shares (2.28%).
Promoter Reclassification Impact
The reclassification of outgoing promoters will adjust the shareholding pattern as follows:
| Shareholder Category | % Before Reclassification | % After Reclassification |
|---|---|---|
| Promoter and Promoter Group | 74.99% | 72.70% |
| Public | 25.01% | 27.30% |
Lodha Developers Limited will continue to constitute the Promoter and Promoter Group, holding 72.70% of the equity shares.
Shareholder Instructions
Members holding shares in dematerialized form must update their email and bank details through their respective Depository Participants. For physical shareholders, it is mandatory to furnish PAN, nomination choice, contact details, bank account information, and specimen signatures to the Registrar and Share Transfer Agent, CIL Securities Limited.
Dividends for physical folios with incomplete KYC details by the prescribed cut-off date will be held back until the information is updated. The company emphasized that such dividends will be released electronically only after compliance.
E-Voting Process
Shareholders can cast votes remotely via the e-voting system or during the AGM. Detailed instructions for remote e-voting are included in the meeting notice. The remote e-voting period commences on Sunday, September 27, 2026, at 9:00 am and concludes on Tuesday, September 29, 2026, at 5:00 pm. The cut-off date for eligibility is Wednesday, September 23, 2026.
The company secretary, Abhijeet Shinde, confirmed the adherence to all applicable provisions of the Companies Act, 2013, and SEBI regulations.
Historical Stock Returns for Sanathnagar Enterprises
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.97% | -2.20% | -13.52% | -13.34% | -11.00% | 0.0% |
How might the reclassification of 2.28% shares from the promoter group to the public category impact Sanathnagar Enterprises' liquidity and market perception?
What strategic rationale does Lodha Developers have for retaining its 72.70% controlling stake in Sanathnagar Enterprises amidst this governance restructuring?
Could the appointment of Walker Chandiok & Co LLP as statutory auditors signal any anticipated changes in financial reporting standards or compliance rigor for the company?
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