Surat Trade and Mercantile Ltd to Hold EGM; Approves Director Re-appointment and Increased Investment Limits

Surat Trade and Mercantile Ltd to Hold EGM; Approves Director Re-appointment and Increased Investment Limits​

Surat Trade and Mercantile Ltd (STML) has announced several key resolutions following a Board Meeting held on July 14, 2026. The company scheduled its First Extra Ordinary General Meeting (EGM) for the Financial Year 2026-27 to address matters including director re-appointment, enhanced financial limits, and ratification of Material Related Party Transactions.

The EGM is set to take place on Monday, August 10, 2026, utilizing a Video Conferencing (VC) or Other Audio Visual Means (OAVM). The cut-off date for the EGM has been fixed as July 18, 2026.

Appointments and Authorizations

The resolutions scheduled for approval at the general body included the re-appointment of Mr. Suhail P. Shah (DIN: 00719002) as Whole-Time Director for a five-year term. Another critical agenda item was seeking shareholder approval for an increase in the limit designated for making investments, providing loans, giving guarantees, and securities under Section 186 of the Companies Act, 2013.

For ensuring transparency during the EGM process, Mr. Jigar Vyas (FCS No. 8019, CP No.14468), who is a Company Secretary in Practice based in Surat, was appointed as the Scrutinizer for conducting e-voting and remote e-voting at the meeting.

Related Party Transactions Ratification

The EGM agenda also included approval and ratification of Material Related Party Transactions involving Mr. Alok P. Shah (DIN: 00218180), the Managing Director. These transactions were noted to have exceeded the prescribed limits for the Financial Year 2025-26.

Stock Price Movement​

Surat Trade and Mercantile Ltd shares settled at ₹4.44 on Tuesday, edging higher after closing up 0.45%. The equity traded within an intraday range spanning from a low of ₹4.40 to a high of ₹4.53.