CMI Limited — Others, 06-12-2024: Shareholders meeting

Notice is hereby given that CMI Limited has announced a board meeting on December 30, 2024, to conduct its 57th Annual General Meeting (AGM) via video conferencing. The main agenda includes reviewing and adopting the audited financial statements for the fiscal year ending March 31, 2024. Due to the ongoing Corporate Insolvency Resolution Process (CIRP), initiated following an order from the National Company Law Tribunal, the powers of the board have been suspended and are under the control of the appointed Resolution Professional, Deepak Maini. The company continues to face financial challenges, reflected in its performance, including a revenue increase to ₹29.75 crore (cr) but a significant loss of ₹10.06 cr. The AGM will also serve to ratify the appointment of statutory auditors, M/s. J. Madan & Associates, for the ongoing financial year.

This development reflects ongoing operational challenges and potential restructuring efforts, leaving shareholders to weigh risks and future outlooks amidst a turbulent financial environment.