Sumeet Industries Limited — Others, 09-01-2025: Cessation

Sumeet Industries has announced a board meeting where the board approved the issuance of 10 crore equity shares at a face value of ₹10 each, totaling ₹100 crore, to the Successful Resolution Applicant, Eagle Group. In governance changes, Mr. Rohan Dipakbhai Modh was appointed as an additional Executive Director, while Mrs. Prachi Ankur Gandhi was appointed as an additional Independent Director. The board also accepted the resignations of two independent directors. Additionally, the company plans to establish a 30 MW solar power plant with an estimated cost of ₹105 crore, aimed at reducing power costs. This strategic move may bolster operational efficiency and is likely to elicit a positive outlook among investors.