Mideast Integrated Steels Resolves Tax Issues, Activates Demat Accounts

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AuthorKavya Nair|Published at:
Mideast Integrated Steels Resolves Tax Issues, Activates Demat Accounts
Overview

Mideast Integrated Steels has resolved pending income tax cases and activated Demat accounts. The company also announced management changes, including new appointments and re-appointments, alongside strategic asset sales.

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Mideast Integrated Steels Ltd. Reports Key Corporate Resolutions and Management Changes

Mideast Integrated Steels Limited has announced significant corporate actions, including the resolution of outstanding tax disputes and the activation of previously debarred Demat accounts. The company also addressed employee welfare by settling ex-gratia payments.

Management and Governance Reforms

The company has seen several changes in its leadership structure. Mrs. Rita Singh has been appointed as Executive Whole-Time Director, and Mrs. Natasha Singh as Additional Director. Mr. Asit Kumar Ray has been re-appointed as an Additional Director. Ms. Shipra Singh Rana resigned as Whole-time Director. The Audit Committee and Stakeholder Relationship Committee have been reconstituted as part of governance enhancements.

Strategic Asset Management

In terms of strategic business updates, the board has approved the sale of 2,50,000 equity shares in Mesco Steel Limited at ₹48.22 per share. Furthermore, Mideast Integrated Steels has filed an application with the Supreme Court seeking to expedite the sale of 8,60,616.102 metric tons of iron ore stock.

Auditor Re-appointments

For the financial year 2026-27, Ms. Tripti Shakya & Co. has been re-appointed as the Secretarial Auditor, and Prasanta Das & Co. has been appointed as the Internal Auditor.

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