NewsStocksSulabh Engineers Appoints New Director and Secretarial Auditor, Approves Related Party TransactionsSulabh Engineers Appoints New Director and Secretarial Auditor, Approves Related Party Transactions
Sulabh Engineers & Services Limited held its 42nd AGM on September 20. Shareholders approved the appointment of Mr. Vivek Awasthi as Independent Director and CS Gopesh Sahu as Secretarial Auditor for a five-year term. Related party transactions with a subsidiary were approved with a ₹2.00 crore limit for FY 2025-26. Financial statements were adopted, and Mrs. Seema Mittal was reappointed as Director. All resolutions passed with over 99.99% votes in favor.
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Sulabh Engineers & Services Limited held its 42nd Annual General Meeting (AGM) on September 20, where shareholders approved several key resolutions that will shape the company's governance and operations in the coming years.
New Independent Director Appointed
The shareholders approved the appointment of Mr. Vivek Awasthi (DIN: 06961442) as an Independent Director of the company. Mr. Awasthi, a qualified Chartered Accountant, brings valuable experience in finance and accounting to the board. His previous experience as an Independent Director on a listed entity's board is expected to contribute significantly to Sulabh Engineers' corporate governance practices.
Secretarial Auditor Appointed
In a move to enhance its compliance framework, the company appointed CS Gopesh Sahu as the Secretarial Auditor for a five-year term. Mr. Sahu, a Practicing Company Secretary with CP number 7800 and PRU Certificate No. 1515/2021, will serve from the financial year 2025-26 to 2029-30. This appointment is crucial for ensuring adherence to regulatory requirements and maintaining transparency in corporate affairs.
Related Party Transactions Approved
Shareholders gave their nod to transactions with the company's subsidiary, setting an aggregate limit of ₹2.00 crores for the financial year 2025-26. This approval comes with stringent oversight measures, including quarterly reviews by the Audit Committee and regular disclosures as per regulatory norms. The move is aimed at enhancing operational flexibility while maintaining robust governance standards.
Other Key Resolutions
The AGM also saw the approval of other important resolutions:
The audited financial statements (standalone and consolidated) for the year ended March 31, along with the reports of the Board of Directors and Auditors, were adopted.
Mrs. Seema Mittal (DIN: 06948908), who retired by rotation, was reappointed as a Director of the company.
Voting Results
All resolutions were passed with an overwhelming majority. The e-voting results showed that each resolution received over 99.99% votes in favor, with minimal opposition.
| Resolution | Votes in Favor (%) | Votes Against (%) |
|---|---|---|
| Financial Statements Approval | 99.9999 | 0.0001 |
| Reappointment of Mrs. Seema Mittal | 99.9999 | 0.0001 |
| Appointment of Mr. Vivek Awasthi | 99.9999 | 0.0001 |
| Appointment of Secretarial Auditor | 99.9999 | 0.0001 |
| Related Party Transactions Approval | 99.9999 | 0.0001 |
The AGM, conducted through video conferencing, saw participation from both promoter group members and public shareholders, reflecting the company's commitment to inclusive decision-making and shareholder engagement.
These decisions are expected to strengthen Sulabh Engineers' corporate structure and pave the way for improved governance and operational efficiency in the coming years.
Historical Stock Returns for Sulabh Engineers & Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.59% | 0.0% | +1.78% | -0.87% | -37.64% | +206.25% |
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