Sona Comstar Issues Corrigendum for AGM Notice, Rectifies Director Remuneration

Sona BLW Precision Forgings Ltd. (Sona Comstar) has issued a corrigendum to its 29th Annual General Meeting (AGM) Notice and Annual Report for the financial year 2024-25. The correction addresses a typographical error concerning the remuneration of Independent Director Mr. Jeffery Mark Overly, clarifying that the correct amount is USD 0.1 million.

Detailed Analysis

The corrigendum, dated July 11, 2025, refers to the company's earlier submission on July 1, 2025, which included the 29th AGM Notice and the Annual Report for FY2024-25. Sona Comstar identified a typo in Annexure A, specifically pertaining to Item No. 5, which details the re-appointment of Mr. Jeffery Mark Overly (DIN: 09041143) as an Independent Director of the company. The error was present on page numbers 414 and 415 of the Annual Report 2024-25, and on page numbers 21 and 22 in Annexure A to the 29th AGM Notice. In these sections, under the headings "Remuneration last drawn (including sitting fees, if any)" and "Remuneration proposed to be paid," the amount was incorrectly stated as USD 1 million. The company has now clarified that the accurate remuneration payable to Mr. Jeffery Mark Overly is USD 0.1 million.

Impact on Documents and Shareholder Information

Sona Comstar has advised that the 29th AGM Notice and the Annual Report for Financial Year 2024-25 should be read in conjunction with this corrigendum. This ensures that all stakeholders, particularly shareholders, have access to the precise and corrected information regarding the director's remuneration ahead of the AGM. The company, through Ajay Pratap Singh, Senior Vice President – Group General Counsel, Company Secretary and Compliance Officer, expressed regret for the inconvenience caused by this typographical error. Sona Comstar has requested both BSE and NSE to disseminate this updated information to the public and take it on record, reinforcing its commitment to accurate and timely disclosures.