Minakshi Agro Industries LLP (MAILLP), a subsidiary of Allied Blenders and Distillers , has filed a counter claim of Rs 34.86 Cr against Mr. Balaji Shivdas Pawar before a Sole Arbitrator. The claim seeks recovery of losses, costs, and damages caused to MAILLP due to alleged breaches, delays, and non-performance by Mr. Pawar. Allied Blenders is named as a proforma respondent in the counter claim filed by its subsidiary.

The Statement of Defence and Counter Claim were submitted on July 17, 2026, at 4:16 p.m. IST. The dispute arises from a Deed of Retirement cum Admission dated December 10, 2024, executed between Mr. Balaji Shivdas Pawar, MAILLP, Allied Blenders, and one other party. The counter claim amount totals Rs 34,85,97,745.

Details of the Counter Claim

The filing outlines specific grievances regarding the adherence to the Deed of Retirement cum Admission. MAILLP asserts that the claimant's actions resulted in financial losses, necessitating the legal recourse to recover the stated amount.

The disclosure was made to the exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that there is no settlement reached yet, and the proceedings are ongoing.

Allied Blenders & Distillers Ltd secured shareholder approval to raise ₹1000 crore and increase borrowing limits to ₹1600 crore during its 18th Annual General Meeting (AGM) held on July 6, 2026. The meeting, conducted via video conferencing, also saw the appointment of Mr. Amar Sinha as Managing Director for a three-year term effective June 1, 2026, and the declaration of a dividend for the financial year ended March 31, 2026.

Key Resolutions and Voting Outcomes

The AGM transacted ten resolutions, including the adoption of audited standalone and consolidated financial statements for FY26. Shareholders approved the re-appointment of Mr. Kishore Rajaram Chhabria and Mrs. Bina Kishore Chhabria as Directors, who retired by rotation. The special resolutions to raise funds through various securities and to increase borrowing limits under Section 180(1)(c) of the Companies Act, 2013, were also passed.

Mr. Amar Sinha was appointed as a Director and subsequently as the Managing Director of the company from June 1, 2026, to May 31, 2029. Additionally, shareholders approved the creation of a mortgage or charge on the company's assets under Section 180(1)(a) of the Companies Act, 2013.

Voting Details

The voting results indicated strong support for the management's proposals. The resolution to raise funds received 99.99% votes in favour, while the resolution to increase borrowing limits was passed with 99.88% approval. The appointment of Mr. Amar Sinha as Managing Director was approved with 97.37% of votes in favour. Public institutions showed significant dissent on the re-appointment of Mrs. Bina Kishore Chhabria and the appointment of Mr. Amar Sinha as Managing Director, with 33.10% and 33.05% votes against respectively.

Meeting Proceedings

The meeting was chaired by Mr. Kishore Rajaram Chhabria, Non-Executive Chairman of the Board. Key managerial personnel, including the Managing Director, Whole-time Directors, and Independent Directors, were present. Statutory auditors M/s. Walker Chandiok & Co LLP and secretarial auditors M/s. B.K. Pradhan & Associates were also in attendance. The remote e-voting facility was provided by National Securities Depository Limited (NSDL), and the scrutinizer for the process was M/s. Makarand M. Joshi & Co.