RCC Cements Approves Strategic Business Alterations and New Director Appointments at EGM
RCC Cements Limited has undertaken significant governance and operational changes following its Extraordinary General Meeting (EGM) held on July 17, 2026. Members of the company approved several special resolutions, including adopting a new Memorandum of Association (MOA) and Articles of Association (AOA), altering the corporate objectives to enable expansion into consumer electronics.The EGM also ratified multiple authorizations for the Board of Directors, setting limits on borrowing capacity, investments, and related party transactions (RPTs).
Constitutional and Operational Updates
At the meeting, the Members approved the adoption of a new set of the Company's Memorandum of Association and Articles of Association in substitution of the existing documents. The company also altered its Object Clause within the MOA. This alteration was designed to allow RCC Cements Limited to commence business activities in consumer electronics and allied products sectors, alongside other businesses.In addition to constitutional changes, the Members approved several key financial authorizations for the Board:
- Borrowing Powers: Approved authorization for the Board to borrow monies up to an aggregate outstanding limit of Rs. 200,00,00,000/- (Rupees Two Hundred Crore Only).
- Investments and Loans: Approved authority for the Board to make investments, extend loans, provide guarantees, or offer securities in excess of prescribed limits under Section 186 of the Companies Act, up to an aggregate amount not exceeding Rs. 50,00,00,000/- (Rupees Fifty Crore Only).
- Related Party Transactions: Members approved transactions with related parties during the Financial Year 2026-27 for an aggregate value not exceeding ₹ 25,60,00,000/-(Rupees Twenty-Five Crore Sixty Lakhs Only).
- Loans to Interested Parties: Approved the authority to advance loans or provide guarantees up to a total amount of Rs. 25,00,00,000/- (Rupees Twenty-Five Crore Only) to persons or body corporates in whom any Director is interested.
Board Enhancements and Director Appointments
The EGM also saw the approval of two key director appointments, strengthening the company's board composition.Mr. Faizal Bavaraparambil Abdul Khader was approved for appointment as a Non-Executive Non-Independent Director. Mr. Shatrughan Sahu was appointed as a Non-Executive Independent Director for a term of five consecutive years commencing from April 21, 2026.
Details regarding the directors and their appointments are summarized below:
| Particular | Faizal Bavaraparambil Abdul Khader | Shatrughan Sahu |
|---|---|---|
| Role | Non-Executive Non-Independent Director (Liable to Retire by Rotation) | Non-Executive Independent Director |
| Appointment Date | Approved at EGM held on July 17, 2026 | Approved at EGM held on July 17, 2026 |
| Profile Highlights | Bachelor of Commerce and CA Intermediate. Possesses nearly 18 years of experience in manufacturing, trading, and distribution across diverse industries including plywood, spices, resins, petrochemicals, and consumer electronics. He has played a key role in transforming a plywood enterprise into a multi-brand mobile and electronics distribution group. | Holds a Bachelor of Commerce degree. Has extensive experience spanning finance, accounts, taxation, corporate secretarial matters, marketing, and general administration. |
| Other Directorships | Safa Systems & Technologies Limited, Kanone Technologies Limited, B. P. Capital Limited, Interworld Digital Limited | Polar Marmo Agglomerates Limited, Kameshwari Buildwell Limited, Heritage Corporate Services Limited |
Stock Price Movement
RCC Cements Ltd settled on Monday at ₹14.95, finishing up with a strong 4.99% gain. The stock spent the entire trading session locked into place, as its intraday high and low were identical at ₹14.95.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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