Hubtown Limited announced that an Extra-Ordinary General Meeting (EGM) will be held on Friday, June 27, 2025, at 11:30 A.M. (IST) through Video Conference (VC) / Other Audio Visual Means (OAVM). The e-voting period for the EGM will commence on Monday, June 23, 2025 (from 9:00 a.m.) and conclude on Thursday, June 26, 2025 (upto 5:00 p.m.). The cut-off date for determining eligible shareholders for e-voting is Thursday, June 19, 2025.
The EGM will consider and approve several key resolutions, including:
- Increasing the Company's borrowing limits under Section 180(1)(c) of the Companies Act, 2013, to not exceed the aggregate of paid-up share capital, security premium, and free reserves by more than ₹6,000 Crores at any one time.
- Authorizing the creation of charges / mortgages on all or any of the movable and immovable properties of the Company, both present and future, to secure borrowings or fund-based and/or non-fund based facilities up to ₹6,000 Crores.
- Approving the advancement of loans, giving guarantees, or providing securities under Section 185 of the Companies Act, 2013, to subsidiaries, associates, or group entities, up to a sum not exceeding ₹6,000 Crores at any point in time.
- Approving the sale, disposal, and leasing of assets exceeding 20% of the assets of material subsidiaries of the Company.
- Approving the pledge of shares by the Company in its material subsidiaries, including scenarios where such action might reduce the Company's shareholding to less than 50% or cease control.
- Re-appointment of Mr. Kartik Ruparel (DIN: 08865104) as an Independent Director for a second term of 5 consecutive years, commencing from September 15, 2025, upto September 14, 2030.
- Approving material related party transactions for the Company with various subsidiaries, associates, joint ventures, and other related parties for the financial year 2025-2026 onwards, on an arm's length basis. The maximum annual values for these transactions range from ₹25 Crores to ₹1,500 Crores for different entities like Twenty Five Downtown Realty Limited (₹1,500 Crores) and Rare Townships Private Limited (₹600 Crores).
- Approving material related party transactions where the subsidiary(ies) of the Company is a party but the Company is not a party, for the financial year 2025-2026 onwards, with maximum annual values ranging from ₹25 Crores to ₹600 Crores for specific subsidiaries.
- Approving the cancellation of 1,59,574 unsubscribed issued equity shares of ₹10/- each from the Company's Issued Equity Share Capital.