Key Proceedings

The 32nd Annual General Meeting of Rajeswari Infrastructure Limited was held on 13th July 2026 at 12:30 PM through Video Conferencing/Other Audio Visual Means in compliance with MCA and SEBI circulars.

Mr. Sanjay Mehra, erstwhile Resolution Professional and current Chairman of Monitoring Committee, chaired the meeting. The company is undergoing Corporate Insolvency Resolution Process (CIRP) pursuant to an order of the Hon'ble NCLT, Chennai Bench, and the powers of the Board of Directors/Shareholders stand suspended, being exercised by the Monitoring Committee.

Resolution Plan Details

The Resolution Plan submitted by Mr. Guruswamy Ramamurthy (Successful Resolution Applicant) was approved by NCLT Chennai Bench under Section 30(6) of IBC, 2016 vide order dated 13th January 2026. The CIRP concluded on that date, and Mr. Mehra ceased to act as Resolution Professional.

A Monitoring Committee has been constituted to supervise implementation of the resolution plan, comprising:

  • Mr. Sanjay Mehra as Chairman
  • Religare Finvest Limited through authorized representative Mr. A. Wilson as Member
  • Mr. Guruswamy Ramamurthy (SRA) through authorized representative Mr. Rajesh Kumar as Member

Shareholding Restructuring

Pursuant to Clause 16.1 of the Approved Resolution Plan:

  • Existing equity shareholding of Promoters and Promoter Group shall stand extinguished
  • Existing share capital held by Public Shareholders shall be reduced by reducing face value from ₹10 to ₹0.20 per equity share
  • Subsequently consolidated into equity shares of ₹10 face value each, resulting in 53,164 equity shares held by Public Shareholders
  • Successful Resolution Applicant shall subscribe to 10,10,116 fresh equity shares of ₹10 each by equity infusion

Post-Issue Shareholding Structure

| Category of Shareholder | No. of Equity Shares | Percentage of Post-Issue Equity Share Capital |

| SRA | 10,10,116 | 95.00% |

| Public Shareholders | 53,164 | 5.00% |

| Total | 10,63,280 | 100.00% |

The Successful Resolution Applicant shall ensure restoration of minimum public shareholding of 25% within two years from the date of first tranche of equity issuance through Further Public Offer (FPO).

Voting Rights Suspension

Pursuant to Clause 16.1(f) of the Approved Resolution Plan, during the Interim Period until handover:

  • Voting rights of existing shareholders and all incidental rights remain suspended, denuded and unavailable
  • All decisions are required to be taken by the Monitoring Committee
  • Provisions relating to shareholder voting, remote e-voting, declaration of voting results, and Scrutinizer's Report are not applicable

Meeting Proceedings

The Monitoring Committee members constituted the quorum for the meeting. The Notice convening the AGM and Statutory Auditor's Report for FY ended March 31, 2025 were taken as read. The financial statements and reports had already been approved by the Monitoring Committee members. The AGM was convened primarily for statutory compliance purposes.

No queries were raised by stakeholders during the meeting. The meeting concluded at 1:00 PM on 13th July 2026.

Implementation Timeline

Upon successful implementation of the Resolution Plan and completion of handover process, the Monitoring Committee shall cease to function and management shall transfer to the Successful Resolution Applicant.