Oriental Rail Infrastructure Limited disclosed the outcomes of its Board of Directors meeting held on August 07, 2026, through a regulatory filing to BSE Limited under Regulation 30 read with Part A of Schedule III of the SEBI Listing Regulations.
The meeting commenced at 11:00 a.m. IST and concluded at 11:40 a.m. IST.
Key Decisions Approved by the Board:
1. Approval to seek ratification of shareholders' approval for variation in the utilization of funds
- The Board approved seeking fresh shareholder ratification via Postal Ballot for variation in the utilization of unutilised proceeds from a previous Preferential Issue.
- The specific variation involves redirecting the unutilised proceeds towards working capital requirements of the Company and/or its subsidiaries.
2. Approval of Postal Ballot Notice
- The Board approved the Notice of Postal Ballot that will be issued to shareholders to seek their approval for the aforementioned variation in the objects of the fund utilization from the Preferential Issue.
3. Appointment of Scrutinizer
- Mr. Shiv Hari Jalan (Membership No.: F5703, CP No.: 4226), a Practicing Company Secretary, was appointed as the Scrutinizer.
- His role is to conduct the remote e-voting process in a fair and transparent manner and to submit the Scrutinizer's Report on the results of the Postal Ballot.
Additional Information:
- The disclosure was signed by Hemali Rachh, Company Secretary & Compliance Officer.
- All relevant documents related to these decisions will be hosted on the company's website at https://www.orientalrail.com/.
- Financial impact of the variation in fund utilization is not quantified in the disclosure.