BEBondada Engineering543971EGM notice

EGM notice: Rs. 2000 Crore loan limit, Rs. 10,000 Crore borrowings and Onix IPP solar EPC on the agenda

Bondada Engineering has called an Extra Ordinary General Meeting on Saturday, 21st November, 2026 at 3.00 p.m. through video conferencing.

By ScoutQuest · Sat 31 Oct 2026, 7:17 PM IST · 3 min read

EGM Date and Mode

Saturday, 21st November, 2026 at 3.00 p.m. through video conferencing

Borrowings / Securities Limit

creation of securities up to Rs. 10,000 Crore, borrowings up to Rs. 10,000 Crore

EPC Contract Value

EPC contract with Onix IPP Private Limited worth Rs. 1,153.93 Crores for a 270 MWp solar project in Maharashtra

Bondada Engineering Limited has issued the notice of an Extra Ordinary General Meeting (EGM) to be held on Saturday, 21st November, 2026 at 3.00 p.m. through video conferencing and other audio visual means. Members will vote on four items, all listed as Special Business.

What shareholders are being asked to approve

• Loans, guarantees and securities under Sections 185 and 186 of the Companies Act, 2013, to the entities listed in Table A, with an aggregate limit of Rs. 2000 Crore (Rupees Two Thousand Crore Only) at any time. Any loan advanced must be used by the borrowing entity for its principal business activities.
• Creation of securities under Section 180(1)(a), including pledges, charges, hypothecations and other security interests over the whole or substantially the whole of the undertaking, including equity shares and subordinated loans or quasi-equity instruments, up to a maximum limit of Rs. 10,000 Crore Only (Rupees Ten Thousand Crore Only). This resolution supersedes all earlier resolutions on the subject.
• Borrowings under Section 180(1)(c) from banks, financial institutions, NBFCs, bodies corporate and other lenders, up to Rs. 10,000 Crore Only (Rupees Ten Thousand Crore Only) outstanding at any time, again superseding earlier resolutions.
• Ratification and approval of a related party transaction with Onix IPP Private Limited for an Engineering, Procurement and Construction (EPC) contract for a 270 MWp ground-mounted solar photovoltaic project at various locations in Maharashtra, for a total contract value of up to Rs. 1,153.93 Crores (Rupees One Thousand One Hundred Fifty-Three Crores and Ninety-Three Lakhs only), inclusive of applicable taxes.

Which group companies are covered

Table A, Table B and Table C each list the same 17 related parties - the entities for which the loan, security and borrowing limits are being sought. They are described as 14 subsidiary companies and 3 associate companies, including Bondada Ecobuild, Bondada Abodes, Bondada E&E, Bondada Renewable Energy, Atpole Technologies, Speck Systems, Bondada Hindupur BESS Projects, PhotonicGrid Networks and Onix IPP. The resolutions also extend to wholly owned subsidiaries, subsidiaries and associate companies to be acquired or incorporated in future.

The related party angle

Onix IPP Private Limited is a related party of the Company. The EPC transaction has already been entered into, and the notice states it has been ratified by the Audit Committee in its meeting held on 16th October, 2026. Mr. Bondada Raghavendra Rao (Chairman and Managing Director), Mr. Satyanarayana Baratham (Whole-Time Director and CFO) and Mrs. Neelima Bondada (Non-Executive Director) are stated to be interested in the resolutions; no other Directors or Key Managerial Personnel are stated to be concerned or interested, except to the extent of their shareholding.

How the voting works

• Remote e-voting runs from 18th November, 2026 at 9.00 IST to 20th November, 2026 at 17.00 IST.
• The cut-off date for entitlement is 13th November, 2026.
• M/s. Rajora & Co., Practicing Company Secretary, has been appointed Scrutinizer through a Board circular resolution passed on 30th October, 2026.
• The meeting is fully virtual, so proxy forms, attendance slips and route maps are not part of the notice.

What this means for a retail holder

The agenda is a set of enabling limits rather than a record of money already raised or lent. Approval would let the Board extend financial support to group companies, create security over the Company's assets and borrow, each within a stated ceiling, and would record shareholder consent for a large related party EPC contract that the Company states it has already signed.

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