Nagreeka Capital & Infrastructure Announces Board Changes and AGM Proceedings

Nagreeka Capital & Infrastructure Limited (NCIL) recently held its 31st Annual General Meeting (AGM) and announced significant changes to its board composition. The company, known for its presence in the capital and infrastructure sector, has made several key appointments and reappointments that are set to shape its future direction.

Board Changes and Appointments

The AGM, held on September 23, saw the re-appointment of Mr. Sushil Patwari, who was eligible for re-appointment after retiring by rotation. Mr. Patwari, a B.Com graduate with over 36 years of rich business experience, is considered a renowned personality in his field.

In a notable transition, Mrs. Surabhi Sanganeria completed her term as an Independent Director effective September 27. Consequently, she ceased to be the Chairman of the Audit Committee and Nomination & Remuneration Committee, as well as a member of the Stakeholders' Relationship Committee and Corporate Social Responsibility Committee.

The company also regularized the appointment of Mrs. Sarita Patwari as a Non-Executive Non-Independent Women Director. Mrs. Patwari, who was initially appointed as an Additional Director on August 12, brings 19 years of business experience across various verticals to the board.

Key Resolutions Passed

During the AGM, several important resolutions were passed:

1. Approval and adoption of Financial Statements
2. Re-appointment of Mr. Sushil Patwari
3. Approval of Material Related Party Transactions with Promoters Entities
4. Appointment of M/s M&A Associates as Secretarial Auditor for a 5-year term
5. Approval of Mrs. Sarita Patwari's appointment as Non-Executive Non-Independent Director
6. Change of designation for Mr. Sushil Patwari from Non-Executive Non-Independent Director to Executive Director
7. Approval of remuneration for Mr. Sunil Ishwarlal Patwari, Managing Director

Corporate Governance and Transparency

The AGM was conducted through video conferencing, in compliance with MCA and SEBI circulars, demonstrating NCIL's commitment to corporate governance and shareholder engagement. The company provided remote e-voting facilities to ensure wide participation and transparency in the decision-making process.

Looking Ahead

With these board changes and strategic appointments, Nagreeka Capital & Infrastructure Limited appears to be positioning itself for future growth and development. The diverse experience of its board members, particularly the addition of Mrs. Sarita Patwari with her extensive business background, is expected to bring new perspectives to the company's operations.

As NCIL moves forward with its refreshed leadership, stakeholders will be keen to observe how these changes influence the company's strategies and performance in the capital and infrastructure sectors.