Prime Industries Limited held its 34th Annual General Meeting on October 19, 2026, approving key appointments and changes. M/s. Akshay Singhla & Associates were appointed as statutory auditors for a five-year term. The meeting also saw the re-appointment of Mr. Rajinder Kumar Singhania as Director, the appointment of Mr. Sanjiv Malik as Executive and Managing Director, and Mr. Deepak Handa as Non-Executive Director. The authorized share capital was increased, and a preferential issuance of equity shares was approved.
Key Decisions at 34th AGM
Prime Industries Limited convened its 34th Annual General Meeting (AGM) on Monday, October 19, 2026. During the meeting, members considered and approved several important business matters that will shape the company’s governance and financial structure.
Auditor Appointment and Term
A significant resolution passed was the approval of M/s. Akshay Singhla & Associates, Chartered Accountants, as the company’s statutory auditor. This appointment is for a substantial term of five consecutive years, commencing from the conclusion of the 34th AGM until the conclusion of the 39th AGM of the Company.
Directorate Changes and Re-appointments
The AGM also addressed changes within the board of directors:
- Mr. Rajinder Kumar Singhania was re-appointed as a Director, having met the eligibility criteria upon retiring by rotation.
- Mr. Sanjiv Malik was appointed as an Executive Director.
- Mr. Sanjiv Malik’s role was further elevated to Managing Director for a period of three years, effective from September 8, 2026, to September 7, 2029.
- Mr. Deepak Handa was appointed as a Non-Executive Director for a term of two years, from September 20, 2026, to September 19, 2028.
Capital and Share Issuance Approvals
Shareholders approved a proposal to increase the company’s authorized share capital from ₹35,00,00,000/- to ₹40,00,00,000/-. This increase will be accompanied by a consequential amendment to the capital clause within the Memorandum of Association (MOA). Additionally, the company received approval for the issuance of up to 27,30,000 equity shares to the non-promoter category on a preferential basis.
Related Party Transactions and MOA Alteration
The members also considered and approved entering into contracts and/or agreements with Related Parties for Related Parties Transactions (RPT) for the FY 2026-2027. Furthermore, an alteration of the main object clause of the Memorandum of Association (MOA) of the company was approved, detailing expanded business scopes including advanced automotive and diversified metal industries.
Source: BSE
