Texmaco Rail and Engg faces the ire of Shareholders

Kolkata:  The annual general meetings of city-based Texmaco Rail and Engineering and Texmaco Infrastructure and Holdings were adjourned today after shareholders created a ruckus over the choice of the venue and gift coupons.

According to company secretary A.K. Vijay, shareholders voiced their inconvenience about travelling long distances to attend the meeting.

The meetings usually takes place in the city. However, because of non-availability of a venue in the city, the companies held the AGMs in Belgharia, a suburb in the north.

Vijay said the shareholders were also demanding gift coupons that the companies were not willing to provide.

“Because of the atmosphere, I will have to adjourn the meeting,” said director A.C. Chakrabarti, who was chairing the meeting of Texmaco Rail in the absence of chairman Saroj Poddar.

The annual general meetings of both the companies will take place next week at the same time and venue, Vijay said.

Executive vice-chairman Ramesh Maheshwari said if the resolutions were not passed in the next AGM, Texmaco Rail might opt for a result by ballot.