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Cemindia Projects Shareholders Approve PWC as Auditor and Name Change with 99.99% Majority
Cemindia Projects Limited (formerly ITD Cementation India Limited) has announced the results of its postal ballot, where shareholders approved two key resolutions with near-unanimous support. The company received approval to appoint Price Waterhouse Chartered Accountants LLP as Statutory Auditors to fill a casual vacancy. Additionally, shareholders ratified the compliance certificate for the company's name change from ITD Cementation India Limited to Cemindia Projects Limited. Approximately 74.64% of total shares were polled, with over 99.99% of votes cast in favor of both resolutions.
Key Highlights
Appointment of Price Waterhouse Chartered Accountants LLP as Statutory Auditors approved with 99.9995% votes in favor.
Ratification of the company's name change to Cemindia Projects Limited approved by 99.9995% of voting shareholders.
Total of 12,82,30,601 votes were polled for the special resolution, representing a 74.64% turnout of the total share capital.
The auditor appointment fills a casual vacancy following the resignation of M/s T R Chadha & Co. LLP and is valid until the 2026 AGM.
💼 Action for Investors
The transition to a 'Big 4' auditor like Price Waterhouse is a positive signal for corporate governance and financial transparency. Investors should view the successful name change and high shareholder participation as a sign of stability during the company's rebranding phase.