GMDC gets board approval to file application for extension of AGM

Gujarat Mineral Development Corporation Ltd (GMDC) on Friday said that its board has given approval to file an application before the Registrar of Companies, Ahmedabad to seek a three-month extension to convene the firm’s annual general meeting.

The decision in this regard was taken during the board meeting held this week, the company said in a filing to the BSE.

“The board of directors of GMDC...has approved to file an application to the Registrar of Companies, Ahmedabad for seeking an extension of three months for convening the 57th Annual General Meeting of the company due to factors attributable to the prevalent Covid-19 situation,” the filing said.

The company is in the business of mining of lignite, bauxite and other minerals as well as generation of electricity by wind, solar and also lignite based thermal power projects, which are essential services as emphasised by the government.

In respect of mining, lignite mining continues to be the main operation of the company which has its maximum share in its total turnover.

GMDC currently operates in five operational lignite mines located in Kutch, South Gujarat and Bhavnagar region. The company is a critical supplier of lignite in the industrial units operating in Gujarat.

Lignite is supplied not only to its own power plants for captive consumption but also to other power plants and industries.