Asian Energy Services Limited confirmed that all three ordinary resolutions at its 33rd Annual General Meeting, held on September 24, 2026, passed with requisite majority, with voting results and the scrutinizer's report disclosed on September 25, 2026.

The meeting was chaired by N. M. Borah, Chairman of the Company, Audit Committee, Corporate Social Responsibility Committee, and Stakeholders Relationship Committee. Key Board members present included Kapil Garg (Managing Director), Anil Kumar Jha (Independent Director), Rabi Bastia (Non-executive Director), Aman Garg (Non-executive Director), and Parikshit Datta (Non-executive Director). The Statutory Auditors issued an unmodified opinion on both standalone and consolidated results for the period ended March 31, 2026.

AGM agenda and resolutions

Shareholders considered three ordinary business items. The following resolutions were put to vote via remote e-voting and e-voting at the AGM:

Remote e-voting was open from September 21, 2026, at 9:00 am to September 23, 2026, at 5:00 pm. Members who had not voted earlier were permitted to cast their votes during the meeting through the e-voting facility provided by National Securities Depository Limited (NSDL).

Voting results and shareholder participation

As on the cut-off date of September 17, 2026, the total number of shareholders on record stood at 27,420. The combined voting data across all three resolutions was identical, reflecting uniform shareholder participation. The table below presents the consolidated voting outcome for each resolution:

Of the total 27,464,736 votes polled, 27,464,716 were cast in favour and 20 against, representing 99.9999% and 0.0001% of votes polled respectively. No invalid votes were recorded for any of the three resolutions. A total of 55 members attended the meeting through video conferencing or other audio visual means, comprising 2 from the Promoter and Promoter Group and 53 from the public category.

Scrutinizer's report and compliance

Hemanshu Kapadia, Proprietor of M/s. Hemanshu Kapadia & Associates, Practicing Company Secretaries, Mumbai, was appointed as Scrutinizer by the Board of Directors to oversee the e-voting process. The Scrutinizer submitted a combined report covering both remote e-voting and e-voting at the AGM, confirming that the process was conducted in accordance with Section 108 of the Companies Act, 2013, Rule 20 of the Companies (Management and Administration) Rules, 2014, Secretarial Standard-2 on General Meetings, and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The voting results and scrutinizer's report have been made available on the company's website and on the NSDL e-voting portal.

Strategic updates and governance

In his opening address at the AGM, the Chairman highlighted the company's strong financial performance and strategic diversification. Key corporate developments noted included the successful acquisition of Kuiper Group and the proposed merger with parent company Oilmax Energy Private Limited. The Chairman reaffirmed the company's commitment to sustainable growth and long-term stakeholder value creation.

Asian Energy Services disclosed that its holding company, Oilmax Energy Private Limited, received a Letter of Intent for a mining licence in Arunachal Pradesh. The deal covers the Pakro Vanadium and Graphite Block.

The disclosure was made on September 7, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Letter of Intent was issued by the Department of Geology and Mining, Government of Arunachal Pradesh.

Licence Details

The LOI grants a Composite Licence for the Pakro Vanadium and Graphite Block. The block is situated at Pakro Village, Pizirang Circle, Pakke Kessang District. It covers an area of 155.46 hectares.

Merger Context

Asian Energy Services clarified that the LOI was awarded to OEPL, not directly to the listed entity. This aligns with the ongoing Scheme of Merger by Absorption of OEPL into Asian Energy Services.

The National Company Law Tribunal has heard the merger scheme, and the matter is reserved for order. Upon effectiveness, all assets, contracts, licences, and blocks of OEPL will vest in Asian Energy Services as a going concern.