Apollo Finvest (India) Limited received the formal resignation letter from M/s. SGGS & Associates, its appointed Secretarial Auditor, on August 15, 2026. The firm stepped down from its role effective August 14, 2026, following a dispute over commercial arrangements.

The resignation follows an earlier disclosure by the company on August 14, 2026, regarding the outcome of its Board meeting. At that time, Apollo Finvest informed the stock exchanges that SGGS & Associates had notified the company of its intent to resign due to disagreements in commercial terms. The formal letter was submitted subsequently to comply with regulatory requirements.

Reasons for Resignation

In its resignation letter addressed to the Audit Committee and Board Directors, SGGS & Associates outlined the specific factors leading to its decision. The firm noted that it had proposed a nominal increase in the Secretarial Audit Fee on August 12, 2026. However, the current commercial terms have remained unchanged for the past three years.

The firm stated that it reassessed its ability to continue serving as Secretarial Auditor given the increasing scope and statutory responsibilities required to safeguard stakeholder interests. It concluded that these responsibilities could not be aligned with its brand positioning at the existing fee structure.

Regulatory Compliance

The submission of the resignation letter is pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Apollo Finvest confirmed that the document has been enclosed with the exchange filing for record purposes.

Gaurav Sainani, Partner at SGGS & Associates, signed the resignation letter on August 14, 2026. The company’s Managing Director and CEO, Mikhil Innani, authorized the disclosure to the stock exchanges on August 15, 2026.

Apollo Finvest (India) Ltd has secured shareholder approval to re-appoint Mr. Akash Saxena as an Independent Director for a second term of five consecutive years. The resolution, passed via a postal ballot process, received 99.99% of votes in favour, solidifying the company's leadership structure. The outcome underscores strong shareholder confidence in the incumbent director, whose re-appointment was critical for maintaining governance continuity.

The postal ballot, conducted through remote e-voting, commenced on May 23, 2026, and concluded on June 21, 2026. A total of 2,638,582 votes were polled, representing 70.69% of the company's outstanding shares. The special resolution required a requisite majority, which was comfortably achieved with minimal opposition. Only 27 votes were cast against the resolution, while no votes were abstained or declared invalid.

Voting Breakdown

The voting participation was primarily driven by the Promoter and Promoter Group, which cast 2,638,263 votes in favour, constituting 99.98% of the total votes polled. Public Non-Institutional shareholders also participated, with 292 votes in favour and 27 against. Public Institutions did not participate in the voting process. The detailed voting pattern is summarized below:

Procedural Compliance

M/s. SGGS & Associates, Company Secretaries, served as the Scrutinizer for the postal ballot, ensuring the process adhered to the provisions of the Companies Act, 2013, and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The e-voting facility was managed by MUFG Intime India Private Limited, formerly known as Link Intime India Pvt. Ltd. The record date for determining eligibility was May 15, 2026, with the notice dispatched on May 21, 2026.

The Scrutinizer's Report confirmed that the votes were unblocked in the presence of independent witnesses, Ms. Priyanka Arora and Ms. Aditi Agrawal, ensuring transparency. The results of the postal ballot will be displayed at the company's registered office, its website, and on the BSE Limited platform. The re-appointment of Mr. Akash Saxena is now effective for the specified five-year term.