AGM/EGM10 April 2026 at 01:21 pm
Confidence Petroleum EGM on May 2, 2026 to approve ₹1000 Cr borrowing limit
AI Summary
Confidence Petroleum India Ltd will convene an Extra-Ordinary General Meeting (EGM) on May 2, 2026, via video conferencing. Shareholders can cast votes electronically from April 29 to May 1, 2026, with April 24, 2026, as the cut-off date. The EGM agenda includes three key special businesses: the appointment of M/s. Katariya and Munot as joint statutory auditors, a proposal to increase the company's borrowing limits under Section 180(1)(c) of the Companies Act, 2013, to a maximum of ₹1000 Crores, and seeking consent for the Board to mortgage or charge company assets to secure these borrowings. These resolutions aim to enhance the company's financial flexibility and strengthen corporate governance.
Key Highlights
- EGM scheduled for May 2, 2026, to discuss key financial and governance matters.
- Proposal to increase borrowing limit to ₹1000 Crores for future business needs.
- Seeking approval to create charges on company assets to secure new borrowings.
- Appointment of M/s. Katariya and Munot as joint statutory auditors.