Birla Corporation Limited, a prominent Indian cement manufacturer, has encountered a legal challenge regarding a proposed resolution at its 105th Annual General Meeting (AGM). The company recently disclosed that it received an ex-parte ad-interim order of temporary injunction from the Civil Judge at Alipore, South 24 Parganas, concerning a special business item on its AGM agenda.

Legal Challenge Details

The temporary injunction, filed by five shareholders of the company, specifically targets Item No. 5 of the AGM notice. This item proposes the adoption of a new set of Articles of Association for Birla Corporation. The court order restrains the company from:

• Conducting any poll, including remote e-voting
• Publishing results of physical votes and remote e-votes

These restrictions apply specifically to the resolution for adopting the new Articles of Association.

Company's Response

Birla Corporation has stated that no violation or contravention has occurred on their part. The company asserts that the proposal to adopt a new set of Articles of Association is in full conformity with prevailing laws and statutory requirements. According to the company's statement:

"The proposal to adopt a new set of Articles of Association, primarily based on Table F of Schedule I of the Companies Act, 2013, is in full conformity with and in consonance with the prevailing laws and statutory requirements."

Legal Actions and Impact

In response to this legal challenge, Birla Corporation has taken the following steps:

1. Filed an appeal before the District Judge at Alipore
2. Initiated appropriate legal measures to address the situation

The company has reported that this legal development has no financial or operational impact on its activities.

Timing and Disclosure

Birla Corporation received the court order on September 11, at approximately 7:20 PM (IST). In compliance with regulatory requirements, the company promptly disclosed this information to the stock exchanges on September 12, adhering to the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015.

As the legal proceedings unfold, shareholders and market observers will be keenly watching for further developments in this corporate governance matter at Birla Corporation Limited.

Birla Corporation Limited, a prominent player in the Indian cement industry, has announced a change in its record date for dividend eligibility for the financial year 2024-25. The company has revised the date from September 8, 2025, to September 9, 2025, following an announcement by the Reserve Bank of India (RBI).

Reason for the Change

The revision was necessitated after the RBI declared September 8, 2025, as a Clearing/Settlement Holiday. This declaration prompted subsequent advisories from the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), leading to the adjustment in the record date.

Dividend Details

Birla Corporation has proposed a dividend of ₹10 per share, representing a 100% payout on the face value of its shares. This dividend is subject to approval at the company's Annual General Meeting (AGM) scheduled for September 15, 2025.

Key Dates

Impact on Shareholders

Shareholders who are registered as of the revised record date, September 9, 2025, will be eligible to receive the dividend, subject to AGM approval. It's important to note that while the record date for dividend eligibility has changed, the cut-off date for determining voting eligibility at the AGM remains September 8, 2025.

Company's Response

Birla Corporation has stated that it will issue a corrigendum to the AGM notice and annual report to reflect this change. The company has already informed the stock exchanges about the revision through an official intimation dated September 5, 2025.

Stock Information

This revision ensures compliance with regulatory requirements and provides clarity to shareholders regarding their dividend eligibility. Investors and stakeholders are advised to take note of this change in the record date for the proposed dividend distribution.