Garuda Construction and Engineering Ltd has scheduled its 16th Annual General Meeting for September 30, 2026. Shareholders will vote on financial statements, the re-appointment of Director Rohit Ramanand Pareek, and the appointment of secretarial auditors. The meeting will also seek approval for significant related party transactions totaling Rs 530 crore, involving entities such as Shree Umiya Builder & Developers, UP World Trade Centre, and Dream City Builders for the 2027-28 fiscal year.
Garuda Construction and Engineering 16th AGM Agenda
Aggregate value of proposed related party transactions is Rs 530 crore across three entities.
Appointment of secretarial auditor M/s. Ketan Vyas & Company proposed for a five-year term.
Reader Takeaway: Shareholders to vote on Rs 530 crore in related party deals and key directorial appointments on Sept 30.
What just happened
Garuda Construction and Engineering Ltd has announced its 16th Annual General Meeting (AGM) to be held via video conferencing on September 30, 2026. The meeting will address the adoption of audited financial statements for the fiscal year ended March 31, 2026, and the re-appointment of Mr. Rohit Ramanand Pareek as a Whole Time Director.
Why this matters
The company is seeking shareholder approval for material related party transactions for the 2027-28 period. These include Rs 180 crore with Shree Umiya Builder & Developers, Rs 250 crore with UP World Trade Centre Pvt Ltd, and Rs 100 crore in working capital investment for Dream City Builders. The total volume of these transactions necessitates formal shareholder consent to ensure governance compliance.
Governance and Audit Update
The board has nominated M/s. Ketan Vyas & Company as secretarial auditors for a five-year term beginning in FY 2026-27. The proposed remuneration for the first year is Rs 60,000, excluding taxes. Mr. Rohit Ramanand Pareek, currently the CFO, is set for re-appointment as a Whole Time Director following his retirement by rotation.
What to track next
Shareholders should monitor the results of the remote e-voting, which begins on September 27, 2026, and ends on September 29, 2026. Investors are encouraged to review the explanatory statement in the company's annual report regarding the specific strategic rationale for the proposed Rs 530 crore in related party transactions.