Adline Chem Lab has scheduled its 38th Annual General Meeting for Monday, September 28, 2026. The meeting will convene via video conferencing to address ordinary business, including the adoption of FY26 financial statements, and special business involving auditor appointments and board composition changes.

Auditor Appointment and Casual Vacancy

The Board seeks shareholder approval to appoint M/s. V. V. Patel & Co., Chartered Accountants, as the statutory auditors for a five-year term from the conclusion of this AGM until 2031. This follows a casual vacancy created by the resignation of the previous auditors, M/s. Jain Kedia & Sharma.

The explanatory statement reveals that M/s. Jain Kedia & Sharma resigned on August 31, 2026, citing an inability to mutually agree on revised professional fees for annual statutory audit and quarterly limited review assignments. The firm attributed its fee proposal to changes in fee policy, inflation, and increased costs, which the company did not accept.

The Board appointed M/s. V. V. Patel & Co. on September 1, 2026, to fill the vacancy until the conclusion of this AGM. Shareholders are asked to ratify this interim appointment via an Ordinary Resolution.

Board Composition Changes

Shareholders will also consider a Special Resolution to regularize the appointment of Mrs. Anita Ganeshbhai Marvadi as a Non-Executive Independent Director. The Board initially appointed her as an Additional Director on August 27, 2026.

Mrs. Marvadi brings two years of managerial experience in the renewable energy sector, specifically focusing on solar energy operations. Her appointment is for a first term of five consecutive years, commencing from August 27, 2026. She holds no shares in the company and has no other directorships in listed entities.

E-Voting and Meeting Logistics

The company has fixed Monday, September 21, 2026, as the cut-off date for determining voting eligibility. The remote e-voting period runs from Friday, September 25, 2026, at 9:00 am to Sunday, September 27, 2026, at 5:00 pm.

Participation in the virtual meeting is limited to 1,000 members on a first-come, first-served basis, excluding large shareholders holding 2% or more shareholding, promoters, institutional investors, and key management personnel. Proxy facility is not available for individual shareholders, though corporate shareholders may appoint authorized representatives.

Adline Chem Lab Limited accepted the resignation of its statutory auditor, Jain Kedia & Sharma, effective August 31, 2026. The firm cited an inability to reach a mutually acceptable arrangement regarding revised professional fees due to policy changes and inflation.

The Board of Directors approved the appointment of V. V. Patel & Co., Chartered Accountants, to fill the casual vacancy. The Ahmedabad-based firm will hold office until the conclusion of the ensuing Annual General Meeting (AGM).

Auditor Transition Details

The resignation stems from a disagreement over fee revisions proposed by Jain Kedia & Sharma. The firm had sought higher fees citing increased costs and inflation, which the company did not agree to.

Future Appointment Recommendation

Based on the Audit Committee's recommendation, the Board also recommended appointing V. V. Patel & Co. for a full term of five consecutive years. This term would begin from the conclusion of the ensuing AGM and continue until the AGM in 2031, subject to shareholder approval.

The Board modified the draft notice of the ensuing AGM to include agenda items for obtaining shareholder approval for both the casual vacancy fill and the five-year term appointment. The meeting concluded at 4:55 pm on September 1, 2026.