Amalgamated Electricity Company Ltd

Meeting Details

• Date: October 1, 2026; Time: 1:30 PM; Location not disclosed.

Key Agenda Items

• Change of Object Clause to be considered and approved.
• Proposed issuance of equity shares via private placement to specified allottees.
• Postal Ballot Notice to be considered and approved.
• Appointment of a scrutinizer for the postal ballot.
• Any other business with chair's permission.

Other Notes

• Trading window closure details are not specified.

Amalgamated Electricity Company Limited trading window closed from 01 October 2026 until 48 hours after the declaration of Un-Audited Financial Results (both days inclusive) for the quarter ended September 30, 2026.

Amalgamated Electricity Company Limited trading window closed from 01 October 2026 to 48 hours after the declaration of Un-Audited Financial Results for the quarter ending September 30, 2026

agm details

• AGM held on 25 September 2026 at 3:00 PM IST via VC/OAVM.
• Record date for voting: 18 September 2026.

resolutions and outcomes

• Adopt accounts ordinary resolution passed with 99.68% in favour.
• Re-appointment of retiring director ordinary resolution passed with 99.68% in favour.
• Statutory auditors appointed for five years; ordinary resolution passed with 99.68% in favour.
• Managing director appointment for five years without remuneration; special resolution passed with 99.68% in favour.
• Secretarial auditor appointed for five years; special resolution passed with 99.68% in favour.
• Investments loans guarantees approval under section 186; special resolution passed with 99.68% in favour.

director and management changes

• Executive Director re-appointed after retirement.
• Managing Director appointed for five years with no remuneration.

auditor appointments

• Statutory Auditor appointed for five-year term; remuneration decided by Board.
• Secretarial Auditor appointed for five-year term.

major approvals

• Approval to make investments, loans, guarantees or security under Section 186.

Management changes

• Appointment of Aradhana Kurup, an existing Director, as MD for five years from Aug 21, 2026; remuneration waived.
• Secretarial Auditor appointment: M/s. Sharvari Kulkarni and Associates for FY2026-27 to FY2030-31; previously filled FY2025-26 casual vacancy.

AGM Details

• AGM held on 25 September 2026 at 3:00 PM IST via VC/OAVM.
• Quorum present and meeting conducted electronically.

Resolutions Passed

• Adoption of audited standalone financial statements adopted.
• Director Aradhana Kurup re-appointed by rotation.
• Appointment of M/s Vatsaraj & Co as Statutory Auditors until 2030.
• Aradhana Kurup appointed Managing Director for five years with no remuneration.
• Secretarial Auditor appointed for five financial years 2026-27 to 2030-31.
• Investments, loans and guarantees under Section 186 up to ₹700 crore approved.

Auditors & Secretarial Appointments

• Statutory Auditor: M/s Vatsaraj & Co appointed until 2030.
• Secretarial Auditor: Sharvari Kulkarni & Associates appointed for FY2026-27 to FY2030-31.

Director Changes

• Aradhana Kurup re-appointed as Director by rotation.
• Aradhana Kurup appointed Managing Director for five years with no remuneration.

Post-Meeting & Reporting

• Scrutinizer's Report to be intimated to the Stock Exchange and uploaded on the company's website.

Book closure

• Book closure from 19 September 2026 to 25 September 2026 inclusive for AGM.
• Purpose: 91st AGM; record of Members to be taken during closure.

Financial snapshot

• Revenue from operations is nil; total revenue equals 1.62 Lakhs.
• Net loss for the year: 33.49 Lakhs; EPS: -1.21.
• Net worth is negative at 72.77 Lakhs.
• Cash and cash equivalents: 0.33 Lakhs; current ratio: 0.01x.
• Current assets: 0.52 Lakhs; current liabilities: 84.15 Lakhs.
• Borrowings: 15.00 Lakhs; investments: 25.77 Lakhs.

Capital structure & liquidity

• Authorized share capital: Rs 2.25 Crore; issued: Rs 1.3883 Crore (27,76,512 shares).
• Borrowings include a Rs 15.00 L director loan.
• Liquidity stressed: current liabilities far exceed current assets; going concern risk.
• Net cash from operations: -14.69; financing: +14.94; net change: +0.25 Lakhs.

Strategic revival & AGM

• Revival plan under consideration; potential preferential issue to raise liquidity.
• AGM scheduled for 25 September 2026 via VC/OAVM at 3:00 PM.
• Management aims to recover outstanding advances and secure promoter support.

Governance & leadership changes

• Ms. Aradhana Kurup appointed Managing Director for 5 years from 21 Aug 2026; remuneration nil.
• Ms. Kurup previously appointed as Executive Director on 5 Mar 2026.
• Statutory Auditor: Vatsaraj & Co appointed; subject to member approval for 2026-30.
• Secretarial Auditor: Sharvari Kulkarni & Associates appointed for 2026-31.

Board & committee dynamics

• Resignations earlier in 2025; new Independent Directors join July 2026.
• Audit, Nomination & Remuneration, and Stakeholders committees reconstituted from 13 Jul 2026.
• ICSI-compliant governance framework in place; no material fraud reported.

Audit & compliance flags

• Secretarial audit notes non-compliance with Section 139(8) for auditor appointment.
• Delay in Reg 34 filing; penalty Rs 2,360.
• DPT-3, MGT-14 filings and ADT-3 timing issues highlighted; actions planned.
• Internal controls deemed adequate; no major fraud reported; audit unmodified except going concern note.

Related-party transactions

• Interest on unsecured loan: Puja Satyen Dalal, 0.56 Lakhs.
• Unsecured director loan: 15.00 Lakhs.
• Remuneration to Gaurav Sakpal: 8.30 Lakhs.
• Other current liability to S. Ramdas: 1.66 Lakhs.

Contingent liabilities & going concern

• Income tax demands: 7.93 Lakhs; unresolved historical refunds ~9.23 Lakhs.
• Material uncertainty regarding going concern due to liabilities exceeding assets.
• Revival plan includes promoter support and capital infusion for liquidity.

Shareholding & capital details

• Outstanding shares: 27,76,512; paid-up capital Rs 138.83 Lakhs.
• Top shareholders: Apurva Investments 23.52%; RRB Securities 14.75%; Pursath 14.42%; Harbinger 6.56%.
• Promoters and major holdings unchanged; no new equity issuances during the year.