Dharani Sugars & Chemicals Ltd

AGM details

• AGM held Sep 25, 2026 at 11:00 IST via VC/OAVM.
• Cut-off date for voting: Sep 18, 2026; remote e-voting Sep 22–24, 2026.
• Shareholders on cut-off date entitled to vote; scrutinizer appointed for voting.
• Scrutinizer: M Damodaran & Associates LLP.
• Consolidated voting results published on company website.

Key resolutions

• Adoption of audited financial statements for year ended Mar 31, 2026; ordinary resolution passed with overwhelming support.
• Re-appointment of Visalakshi Periasamy as director; special resolution passed with majority in favor.
• Remuneration payable to Cost Auditor for FY 2026-27 ratified; ordinary resolution passed with overwhelming support.
• RPT limit with Dharani Developers Pvt Ltd approved; ordinary resolution passed with majority in favor.
• RPT limits with promoter Dr. Palani G Periasamy approved; ordinary resolution passed with majority in favor.

Director changes

• Appointment/re-appointment of Visalakshi Periasamy as director approved.

Related party & other approvals

• Material related party transactions approved with Dharani Developers Pvt Ltd and promoter Dr. Palani G Periasamy.

Auditors

• Cost Auditor remuneration for FY 2026-27 ratified.

AGM Details

• Date, time and mode: 25 September 2026, 11:00 a.m. IST, via VC/OAVM.

Key Resolutions

• Adoption of audited financial statements for the year ended 31 March 2026 (Ordinary).
• Director Visalakshi Periasamy re-appointment by rotation (Ordinary).
• Ratification/appointment of Cost Auditor for FY 2026-27 (Ordinary).
• Borrowings limit: authorize aggregate borrowings up to ₹300 crores (Ordinary).
• Related Party Transactions limit with Executive Chairman up to ₹25 crores (Ordinary).

Voting Results

• Voting included remote e-voting and on-site voting; results to be announced after scrutiny.

Director Changes

• Director Visalakshi Periasamy re-appointed by rotation.

Auditor Appointments

• Cost Auditor appointment ratified for FY 2026-27: M/s SRR Associates.

Material Related Party Transactions

• Approval of RPT limit with promoter: Executive Chairman borrowings up to ₹25 crores.

Book closure and AGM details

• Book closure from 19 September 2026 to 25 September 2026, inclusive.
• Purpose: for the 39th Annual General Meeting.
• Cut-off date for e-voting eligibility: 18 September 2026.
• E-voting window: 22 September 2026, 9:00 A.M. to 24 September 2026, 5:00 P.M.
• AGM date: 25 September 2026 at 11:00 a.m.
• Security: Equity shares.

Financial results and reporting

• Unaudited standalone results for quarter ended 30 June 2026 approved; segment report included.
• Limited Review Report by auditors accompanying the results.

Going concern and restructuring disclosures

• Company has accumulated losses and negative net worth; revival plans underway.
• Auditor notes material going concern uncertainty; management pursuing revival measures.
• MRA canceled; unsustainable debt of INR 33,465 Lakhs payable; contingent liability retained.
• SDF OTS canceled; original liability with interest payable; adjustments under evaluation.
• Default on I Heart Properties loan; outstanding INR 2,996.21 Lakhs; settlement terms unclear.
• Directors and related party loans total INR 21,633.56 Lakhs as of 30 June 2026.
• Vendor MSME classification under review; some MSME dues unpaid; settlement efforts ongoing.
• Trading of equity shares suspended since July 3, 2023; steps to regularise trading.
• No subsidiary/associate/joint venture as of 30 June 2026.

Capital structure and assets

• Unsecured loans from corporate entities in quarter: INR 223.03 Lakhs.
• Investment in Appu Hotels Limited carrying amount INR 1,455.39 Lakhs; fair value under Ind AS 113 being assessed.
• Equity shares issued under NARCL debt resolution: 8,314,328 shares; dematerialisation/listing pending.
• Inter-Corporate loan interest and director loans not accrued per Master Restructuring Agreement.

Auditor remarks and regulatory status

• Srivatsan & Associates: limited review; going concern caveat noted; not an audit opinion.

Default details

• Nature of defaulted obligation: loans from banks/financial institutions including revolving facilities.
• Date of default: 30 June 2026.
• Current default amount: 15.09 crore.
• Total principal amount of the obligation: 338.35 crore.
• Total outstanding borrowings from banks/financial institutions: 336.51 crore.
• Total financial indebtedness: 336.51 crore.

Demat/remat processing status

• Securities received for dematerialisation during quarter ended 30 June 2026 were processed and communicated to depositories (accepted/rejected).
• The dematerialised securities have been listed on the stock exchanges where issuer's securities are listed.
• Physical certificates for dematerialisation were mutilated and cancelled after verification; depository name updated as owner in 15 days.

Transfer requests update

• Zero transfer requests were received or processed during Apr–Jun 2026; average processing time was 0 days.

Bank facility default

• Loans/revolving facilities from banks/financial institutions.
• Total outstanding ₹338.36 cr; default ₹105.02 cr as of 30 Jun 2026.
• Unlisted debt securities (NCDs/NCRPS) have NIL default.
• Total financial indebtedness: ₹350.18 cr.