SRU Steels Limited, a key player in the steel manufacturing sector, recently held its Board of Directors meeting on 21st April 2025. Several significant changes and approvals were made during this session, impacting the leadership structure and operational strategies of the company. The most noteworthy decisions include the appointment of Mr. Vijay Sureshbhai Makvana as both the Executive Managing Director and Chief Financial Officer (CFO) of the company, subject to shareholder approval. Additionally, the Board accepted the resignations of key figures in the company, including Mr. Meet Harshadbhai Govani from the roles of Executive Managing Director and CFO, and Mr. Ravi Maheshkumar Sinojiya as a Non-Executive Non-Independent Director. These changes are expected to bring fresh leadership perspectives as SRU Steels navigates the coming financial year.

The Board also approved the reconstitution of the Stakeholders Relationship Committee. The new composition includes Dharmik Atulbhai Rojasara as the Chairperson, alongside Himanshu Rajeshkumar Vyas and Kairavi Lalitbhai Vadodariya as members. The shift is part of an ongoing restructuring to enhance the company’s corporate governance and shareholder relations.

In addition to leadership changes, SRU Steels also proposed a Postal Ballot to seek shareholder approval for various matters, including the appointment of Mr. Vijay Sureshbhai Makvana as the Managing Director, the approval of Mr. Manish Manojbhai Rathod as a Non-Executive Independent Director, and the appointment of TCS & Co. as the company’s statutory auditor for the term until the next Annual General Meeting (AGM). The ballot will also cover approvals for transactions under Sections 185 and 186 of the Companies Act, which relate to loan arrangements and investments, ensuring the company complies with legal and regulatory requirements.

To facilitate the voting process, Mrs. Vishakha Agrawal from M/s Vishakha Agrawal & Associates has been appointed as the Scrutinizer to ensure a transparent and fair voting procedure for the postal ballot. The cut-off date for determining eligibility to vote via e-voting was set for 18th April 2025, ensuring all eligible shareholders are able to participate in the decision-making process.

These developments signal a strategic shift for SRU Steels, as it seeks to bolster its management team and ensure regulatory compliance while continuing to grow in the competitive steel industry. With new leadership, including the experienced Mr. Vijay Sureshbhai Makvana, SRU Steels aims to enhance its operational and financial strategies.

The full details of the appointments, resignations, and the reconstitution of the committee have been enclosed in multiple annexures, along with a detailed schedule for the upcoming Postal Ballot and voting process. The company is committed to transparency and accountability, adhering to SEBI regulations to keep its shareholders informed of all critical developments.

For SRU Steels, these leadership changes represent a new chapter in its growth, and the company's leadership remains confident that these adjustments will pave the way for long-term success.

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