Aeroflex Neu Limited shareholders approved all nine resolutions at its 34th Annual General Meeting (AGM) held on August 25, 2026. The voting results, scrutinized by CA Ashok Modi, confirmed the appointment of two independent directors and a strategic expansion of the company’s preferential issue objectives.

The physical meeting in Udaipur concluded at 11:28 am. Of the 5,716 total shareholders on the cut-off date, 43 members (two from the promoter group and 41 public shareholders) were present in person or through proxy. Remote e-voting was conducted via Central Depository Services (India) Limited (CDSL) from August 20 to August 24, 2026.

Director Appointments

Mr. Asad Daud was reappointed as a Director after retiring by rotation. The Board appointed Mr. Arpit Kalani (DIN: 09734386) and Mr. Tapan Tanmay Kothari (DIN: 11798942) as Non-Executive Independent Directors.

Both directors were appointed for a term of five consecutive years, commencing from July 15, 2026, to July 14, 2031. The appointments were recommended by the Nomination and Remuneration Committee and approved by the Board on July 15, 2026.

New Independent Directors Profile

Mr. Kalani possesses expertise in statutory compliances under the Companies Act. Mr. Kothari brings managerial and operational expertise across banking and sales. Neither director is related to any existing director of the company.

Preferential Issue Modification

A special resolution modified the first object of the preferential issue previously announced in May 2025. The revision aligns fund utilization with emerging business opportunities.

The change allows investment in data centers and hospitality businesses through subsidiaries or joint collaborations.

Related-Party Transactions

The AGM approved material related-party transactions with:

• Lion Houseware Private Limited
• Safe Polymer Private Limited
• Mr. Asad Daud, Director
• Mrs. Shehnaz D. Ali, relative of a Director

Voting Results Summary

All resolutions were declared passed with the requisite majority following the Scrutinizer’s report. The promoter group voted in favor of all ordinary and special resolutions where they were not interested parties. For related-party transactions, promoters abstained as required.

What the Numbers Show

The voting data reveals a distinct split in shareholder engagement based on the nature of the resolutions. While ordinary business items like financial statement adoption and director reappointments saw near-universal support from both promoters and public shareholders, the related-party transaction (RPT) approvals relied heavily on physical poll votes from public non-institutional shareholders. Promoters abstained from voting on RPTs as mandated, leaving the outcome to public shareholders who cast only 3,360 votes per RPT resolution compared to over 1.72 crore votes for other agenda items. This indicates that while promoter control is absolute on governance matters, minority shareholder approval remains critical for specific related-party dealings.

Aeroflex Neu Limited shareholders will vote on material related party transactions (RPTs) valued up to ₹390 crore and the appointment of two new independent directors at the company’s 34th Annual General Meeting (AGM) on August 25, 2026. The meeting, scheduled for 11:00 a.m. at the registered office in Udaipur, also includes a special resolution to modify the utilization of proceeds from a previous preferential issue. Remote e-voting opens on August 20, 2026, with a cut-off date of August 18, 2026, for determining voting eligibility.

The agenda centers on four ordinary resolutions approving RPTs with Lion Houseware Private Limited (LHPL), Safe Polymer Private Limited (SPPL), Mr. Asad Daud, and Mrs. Shehnaz D. Ali. These transactions involve land acquisition, loans, and investments aimed at expanding into office complexes, data centers, and hospitality infrastructure. Additionally, the Board seeks shareholder consent to re-appoint Mr. Asad Daud as a director retiring by rotation.

Related Party Transaction Details

The proposed RPTs are structured to support the company’s strategic expansion into new verticals. Loans extended to LHPL and SPPL carry an interest rate of 12% per annum, are repayable on demand, have a tenure of three years, and are unsecured. The aggregate values and nature of these dealings are detailed below:

Mr. Asad Daud, a Non-Executive Director, controls LHPL, while Mrs. Shehnaz D. Ali is his relative. The Audit Committee has reviewed these transactions, confirming they are on an arm’s length basis and in the ordinary course of business.

Preferential Issue Modification

A special resolution seeks to modify the objects of a preferential issue of 72,00,000 fully convertible warrants approved in June 2025. The company aims to expand the utilization of ₹4,000 lakh of proceeds towards Data Centers and hospitality businesses, including hotels and resorts. This change aligns fund deployment with emerging opportunities in AI Parks, IT Parks, and residential complexes.

Board Appointments

Shareholders will also vote on the appointment of Mr. Arpit Kalani and Mr. Tapan Tanmay Kothari as Independent Directors for a term of five years, commencing July 15, 2026. Both were appointed as Additional Directors by the Board on July 15, 2026, based on the recommendation of the Nomination and Remuneration Committee.

What This Means for Shareholders

Investors must ensure their names appear in the register by August 18, 2026, to participate in e-voting via Central Depository Services (India) Limited (CDSL). The Register of Members remains closed from August 19 to August 25, 2026. Approval of the RPTs is critical for the execution of the company’s expansion plans into high-growth infrastructure sectors.