Ujaas Energy Approves Up to Rs 1,000 Crore Borrowing Limit and Directors' Reappointments

Ujaas Energy Approves Up to Rs 1,000 Crore Borrowing Limit and Directors' Reappointments​

The Board of Directors of Ujaas Energy Limited held a meeting on June 22, 2026, where several key resolutions were considered and approved. These decisions included the regularization of Mrs. Geeta Mundra’s appointment as a Non-Executive Director and Chairman, the reappointment of Mr. Vikalp Mundra, and approval for the company to borrow funds up to Rs. 1,000 Crores, pending shareholder ratification at the ensuing Annual General Meeting (AGM).

During the meeting, the board focused on corporate governance matters, approving various reports necessary for the financial year ending March 31, 2026. These approved items included the Secretarial Audit Report, the Draft Board's Report, Corporate Governance Report with Management Discussion and Analysis Report, BRSR, and associated Annexures.

Director Appointments and Profiles​

The meeting addressed the status of two directors. The board recommended the regularization of Mrs. Geeta Mundra (DIN: 00113261), who was appointed as an Additional Director (Non-Executive, Non-Independent). She was designated as a Non-Executive, Non-Independent Director and Chairman of the Company, subject to shareholder approval at the AGM.

The board also recommended the re-appointment of Mr. Vikalp Mundra (DIN: 00113145) in place of a retiring director, who offered himself for re-appointment, pending shareholder approval at the upcoming AGM.

Both directors were profiled as part of this resolution, detailing their professional background and relationships within the company. Mrs. Geeta Mundra holds an M.A. degree from Vikram University, Ujjain, and possesses over 40 years of experience in administrative leadership, social, and corporate management. Mr. Vikalp Mundra is a graduate in Electrical Engineering and postgraduate in Financial Management.

Corporate Governance and Financial Approvals​

Beyond the director appointments, the board addressed several critical operational and financial approvals that are contingent upon shareholder approval at the forthcoming AGM.

The resolutions included:

• Approval of enabling resolution to borrow funds not exceeding Rs. 1,000 Crores under Section 180(1)(C) of the Companies Act, 2013.
• Approval for making investments, extending loans, or giving guarantees or providing securities in connection with loans to persons or body corporates under Section 186 of the Companies Act, 2013.
• Approving advance any loan, give guarantee, or provide security under Section 185 of the company's act, 2013.

The Board also appointed Mr. Ashish Karodia (CP: 6375), a Practicing Company Secretary, to serve as the Scrutinizer for conducting the e-voting and poll at the AGM, ensuring fair and transparent processes. The meeting finalized the notice and details for the company's 27th Annual General Meeting.

The roles and relationships between the directors were noted, including that Mr. Anurag Mundra (Whole-Time Director) and Mr. Vikalp Mundra (Executive Director) are the sons of Mrs. Geeta Mundra. Furthermore, it was confirmed that neither Mrs. Geeta Mundra nor Mr. Vikalp Mundra is debarred from holding the office of a Director by SEBI or any other authority.

UEL Stock Price Movement​

As of 1:35 PM, shares of Ujaas Energy Limited rally up to ₹139.86 in live trading, gaining 0.72% over the current session. The stock has traded a volume of 6,240 and continues to trade within its intraday range of ₹138.77 to ₹144.25.