Reliance Industries will hold its Annual General Meeting (AGM) on July 15 i.e. Wednesday through video conferencing, the company said in a regulatory filing. A virtual AGM is the first of its kind for India's leading conglomerate, in view of the Covid19 pandemic. It has fixed July 8, 2020, as the cut-off date for members to attend the meet and vote on resolutions.
"This is to inform that the forty-third Annual General Meeting (Post-IPO) (AGM) of the members of the Company will be held on Wednesday, July 15, 2020 at 02:00 p.m. IST through Video Conferencing (VC) / Other Audio-Visual Means (OAVM), in accordance with the relevant circulars issued by the Ministry of Corporate Affairs and Securities and Exchange Board of India," Reliance Industries said.
In a related development, Reliance Industries has fixed July 03, 2020, as the record date for determining the members eligible to receive dividend for the financial year 2019-20.
"The dividend, if declared at the AGM, will be paid within a week from the conclusion of the AGM," RIL said.
Reliance Industries is now "in its golden decade", Mukesh Ambani said last week, adding, "I have fulfilled my promise to the shareholders by making Reliance net debt-free much before our original schedule of 31st March 2021."
Reliance Industries's market value touched the Rs 11.44 lakh crore mark on Monday, making it the first Indian company to hit a market valuation of $150 billion.