Adcon Capital Services Limited passed all seven resolutions proposed at its 32nd Annual General Meeting (AGM) held on September 30, 2026. The meeting, conducted via video conferencing, saw shareholders approve the adoption of audited financial statements and several director re-appointments.

The company submitted the voting results and the scrutinizer's report to the BSE on October 1, 2026. The resolutions were voted on through remote e-voting and e-voting during the meeting. No shareholders attended in person or through proxy, while 32 public shareholders participated through video conferencing.

Key Resolutions Approved

The agenda included routine matters such as the adoption of financial statements for FY26 and the appointment of a secretarial auditor. Significant governance changes involved the re-appointment of key board members:

• Financial Statements: Adoption of audited standalone financial statements for FY26 was approved by 98.99% of votes polled.
• Director Re-appointments: Mr. Piyush Saraf (Managing Director) and Ms. Rajeshwari Bangal (Non-Executive Independent Director) were re-appointed. Mr. Suman Das (Non-Executive Independent Director) was also re-appointed.
• Capital Structure: Shareholders approved an increase in authorized share capital and the alteration of the share capital clause in the Memorandum of Association.

Voting Participation and Results

Voting participation remained low relative to the total number of shareholders on record. Out of 73,150 shareholders on the record date of September 23, 2026, only 352,468 shares were voted on across all resolutions. This represents approximately 0.18% of the total outstanding shares held by public non-institutional investors.

What the Numbers Show

A distinct divergence in voting patterns is visible when comparing routine administrative resolutions against governance-related appointments. While ordinary resolutions such as the adoption of financial statements and capital structure changes received near-unanimous support with opposition votes ranging from 3,570 to 3,576, the re-appointments of directors saw significantly higher dissent. The votes against director re-appointments clustered around 7,376 to 7,421, more than doubling the opposition seen for other items. This suggests a specific segment of the voting shareholder base held reservations regarding the board composition or specific director tenures, despite the overall majority supporting these appointments.

Adcon Capital Services has scheduled its 32nd Annual General Meeting (AGM) for Wednesday, September 30, 2026. The book closure period runs from September 24 to September 30, 2026.

The board approved the report for FY25-26 along with its annexures in a meeting held on September 4, 2026. It also fixed the date, time, venue, and book closure period for the upcoming AGM. The notice for the meeting was issued following these approvals.

Director Re-Appointments

Mr. Piyush Saraf, who was retiring by rotation, offered himself for re-appointment as a director. The board approved his re-appointment effective September 4, 2026. Mr. Saraf is a commerce graduate from Kolkata University with expertise in capital markets, finance, and accounts.

Additionally, Mr. Suman Das was re-appointed as a Non-Executive Independent Director for a second term of five years. His tenure runs from January 19, 2027, to January 18, 2032. Mr. Das brings extensive experience in finance, corporate governance, and regulatory compliance.

Secretarial Auditor Change

M/s. Nishant Bajaj & Associates resigned as the company’s secretarial auditor effective September 4, 2026, citing pre-occupation with other professional commitments. The firm confirmed there were no material disputes or pending issues leading to the resignation.

The board appointed M/s. NNJ & Co., Practicing Company Secretaries, as the new secretarial auditor for a five-year term covering financial years 2026-27 to 2030-31. The peer-reviewed firm specialises in corporate law, secretarial compliance, and governance matters.

Share Capital Proposal

The board considered an alteration to Clause V of the Memorandum of Association to facilitate an increase in authorised share capital. This proposal requires further approval from shareholders and statutory authorities.