Maithan Alloys Limited — Important, 11-11-2024: Updates

The Board of Directors has held a meeting, approving significant changes to the company structure and leadership. Key decisions include the re-appointment of Mr. Subhas Chandra Agarwalla as Chairman and Managing Director for three years, starting April 1, 2025, with a monthly remuneration of ₹7.5 lakh and a variable pay based on profits. Remuneration adjustments for Mr. Subodh Agarwalla, Whole-time Director and CEO, and Mr. Sudharshu Agarwalla, President and CFO, have also been approved, effective from the same date. Additionally, the Memorandum of Association will undergo amendments to reflect changes in company objectives, including the incorporation of activities in electricity generation, real estate, health, hospitality, and education sectors. These adjustments are subject to shareholder approval. This meeting positions the company for broader operational scopes and continued leadership stability, presenting a positive outlook for stakeholders as it aims for new growth avenues.