Tamil Nadu Newsprint and Papers Limited concluded its 46th Annual General Meeting on September 24, 2026, with shareholders approving the adoption of audited financial statements for the fiscal year ended March 31, 2026.

The meeting, conducted via video conferencing in compliance with Ministry of Corporate Affairs and SEBI circulars, was chaired by Kumar Jayant, Chairman and Managing Director. Key resolutions passed included the declaration of dividend, re-appointment of a director retiring by rotation, and fixation of statutory auditor remuneration.

Statutory audit observations

The company’s statutory auditors, M/s A John Moris & Co, issued an unqualified opinion on the financial statements. However, they noted an observation regarding the audit trail functionality of the accounting software, Oracle E-Business Suite (EBS). The auditors reported that while EBS maintains an audit trail at the application level, it does not have audit trail enabled at the database level to log direct data changes. The auditors clarified that there is no scope for users to alter or edit entries at the backend.

Additionally, the Comptroller and Auditor General of India submitted a "NIL" report, indicating no adverse comments on the accounts. Secretarial auditors M/s Sridharan & Sridharan Associates provided their report, with qualifications addressed in the Board’s Report.

Resolutions transacted

Shareholders voted on five ordinary resolutions during the session. The e-voting results were scheduled for announcement within two working days via the Central Depository Services Limited platform.

Governance and attendance

The Board of Directors present included Kumar Jayant (CMD), N Venkatesh, R Kannan, and several independent directors such as Dr N Sundaradevan, Tmt M Sathiyavathy, Mathew Thomas, and Sriganesh Padmanabhan. Dr S Vijayakumar was absent due to prior commitments but was up for re-appointment. The meeting concluded at 1:45 pm after addressing member queries on operational performance and market outlook.

ICICI Prudential Mutual Fund has significantly reduced its equity exposure in Tamil Nadu Newsprint & Papers Ltd , selling over 18 lakh shares through open market transactions. The disposal brings the fund’s total holding down to 2.43% of the company’s paid-up capital.

The mutual fund disclosed the sale under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing indicates that the net disposal occurred between March 4, 2025, and September 7, 2026.

Shareholding Changes

Prior to this transaction, ICICI Prudential Mutual Fund held 34,86,328 shares, representing a 5.04% stake in the company as per the previous disclosure dated March 4, 2025. The recent sale involved 18,01,237 shares carrying voting rights.

The fund confirmed that the schemes and investment strategies hold these shares purely for investment purposes, with no objective to seek controlling interest. There were no encumbrances, pledges, or liens on the shares held by the fund.

Regulatory Context

The disclosure was submitted to BSE Limited on September 8, 2026, by Rakesh Shetty, Chief Compliance Officer & Company Secretary at ICICI Prudential Asset Management Company Limited. The company’s total equity share capital remains unchanged at ₹69,21,06,000, comprising 6,92,10,600 shares with a face value of ₹10 each.