AGI Infra Limited passed all five ordinary resolutions proposed at its 21st Annual General Meeting held on September 30, 2026. The meeting, conducted in Jalandhar, Punjab, saw shareholders approve the adoption of financial statements and the declaration of a final dividend for FY26.

The resolutions were passed with requisite majority following a combined vote from remote e-voting and physical ballot papers. The meeting commenced at 3:30 pm and concluded at 4:47 pm. A total of 15,777 shareholders were on the record date of September 23, 2026.

Voting results overview

The scrutinizer, Gaurav Thakur of Thakur G & Co, confirmed that all five resolutions were passed. Notably, the resolution regarding the appointment of Mr. Sukhdev Singh Khinda received some dissenting votes from institutional public shareholders, while other resolutions enjoyed near-unanimous or complete support.

What the Numbers Show

A distinct divergence in shareholder sentiment is visible in the voting patterns for director reappointments versus routine business. While resolutions for financial adoption, dividends, and auditor remuneration received 100% support from the votes polled, the reappointment of Mr. Sukhdev Singh Khinda attracted opposition from institutional investors. Specifically, 153,633 votes against this resolution came exclusively from the Public-Institutions category, representing approximately 15% of the votes cast by institutions in that specific item. In contrast, the reappointment of Mr. Anuj Rai Bansal faced only 24,065 dissenting votes, indicating significantly lower institutional resistance to his continuation.

AGI Infra Limited has issued a communication to shareholders regarding Tax Deduction at Source (TDS) on its final dividend of ₹0.20 per equity share for the financial year ended March 31, 2026. The Board of Directors recommended this payout, subject to shareholder approval at the upcoming Annual General Meeting (AGM). The record date for determining entitlement was fixed as Wednesday, September 23, 2026.

The company stated that dividend payments are taxable in the hands of shareholders under the Income-tax Act, 2025. Consequently, AGI Infra is mandated to deduct tax at source during the payment process. The applicable TDS rate varies significantly based on the residential status of the shareholder and the documentation submitted to the company or its Registrar and Transfer Agent, Bigshare Services Private Limited.

TDS implications for resident shareholders

For resident shareholders, the standard TDS rate is 10% under Section 393(1) read with Section 393(4) of the Act. However, no TDS deduction will apply if the total dividend received from the company does not exceed ₹10,000 in a financial year for resident individuals. Higher deductions may apply if PAN details are invalid, inoperative, or not linked with Aadhaar.

Shareholders can claim a nil TDS rate by submitting specific declarations and documents by Wednesday, September 30, 2026. Exemptions are available for entities such as LIC, GIC, mutual funds, Category I and II Alternate Investment Funds, and New Pension System (NPS) trusts.

Withholding tax for non-resident shareholders

Non-resident shareholders are subject to TDS under Section 393(2) of the Act. The standard rate is 20% plus applicable surcharge and cess. However, beneficial rates under Double Taxation Avoidance Agreements (DTAA) may apply if the shareholder submits valid Tax Residency Certificates, Form 41, and self-declarations regarding beneficial ownership.

Failure to furnish these documents by the deadline will result in TDS deduction at the standard domestic rate. For Indian branches of foreign banks, the rate is 35% plus surcharge and cess, unless a lower tax deduction certificate is provided.

Key deadlines and compliance steps

To ensure correct tax determination, shareholders must update their records and submit necessary tax documents by Wednesday, September 30, 2026. Communications received after this date will not be considered for TDS calculation. Documents can be uploaded via the Bigshare Services website or emailed to designated addresses including info@agiinfra.com and cs@agiinfra.com.

What the numbers show

The divergence between the standard 10% TDS for residents and the potential 20% rate for those with invalid PANs highlights a significant compliance dependency. While the dividend amount of ₹0.20 per share is modest, the effective yield for shareholders can be reduced by up to 50 percentage points depending on their adherence to PAN-Aadhaar linking requirements. This underscores that administrative compliance, rather than just market performance, dictates the net cash flow received by retail investors in this instance.