Bank of Maharashtra has officially confirmed the appointment of Mr. Prasenjeet Shrikrishna Fadnavis as Shareholder Director, effective March 24, 2026, following his successful election during the Extraordinary General Meeting held on March 23, 2026. The bank notified stock exchanges about the appointment under Regulation 30 of SEBI (LODR) Regulations, 2015.

EGM Results and Director Elections

The Extraordinary General Meeting, conducted through video conferencing with 55 members including one authorized Government of India representative, addressed critical board appointments. Shareholders approved two key agenda items related to board composition under regulatory requirements.

In the shareholder director election, Mr. Fadnavis emerged victorious among four qualified candidates, securing the majority of votes cast.

Director Profile and Qualifications

Mr. Prasenjeet Shrikrishna Fadnavis, aged 52 years, brings extensive experience across multiple sectors to his new role. His educational qualifications include a Bachelor's degree in Computer Science, L.L.B., and a Diploma in Cyber Law.

The new director is a technocrat with over three decades of experience spanning telecom, banking, cyber laws, education, and rural development. He has been associated with leading educational institutions including Savitribai Phule Pune University and Yashwantrao Chavan Maharashtra Open University, while also being involved in social services.

Executive Director Appointment

Simultaneously, shareholders overwhelmingly approved the appointment of Shri Prabhat Kiran as Executive Director. The Department of Financial Services, Ministry of Finance, had initially appointed him on November 24, 2025, under Section 9(3)(a) of the Banking Companies Act for a three-year term.

Regulatory Compliance and Meeting Framework

The EGM was chaired by Mr. Nidhu Saxena, MD & CEO, following established regulations. Remote e-voting was conducted from March 18-22, 2026, with Central Depository Services (India) Limited providing the e-voting platform.

The meeting adhered to all regulatory requirements under SEBI (LODR) Regulations, 2015, and Companies (Management and Administration) Rules, 2014. The comprehensive scrutinizer's report confirmed all votes as valid, with compliance to Banking Companies Act provisions ensuring no shareholder held more than 10% voting rights.

Mirae Asset Mutual Fund has officially declared Income Distribution cum Capital Withdrawal (IDCW) for its Aggressive Hybrid Fund through Notice No. AD/24/2026, with trustees approving the distribution for both Regular and Direct plan options. The announcement sets March 27, 2026 as the record date for eligible unitholders.

Distribution Details

The fund has declared a uniform distribution across both plan options, with specific NAV levels recorded as of March 20, 2026.

The distribution quantum of ₹0.10 per unit applies to both plan variants, though it remains subject to the availability of distributable surplus as on the record date and applicable statutory levies. The record date has been set for Friday, March 27, 2026, or the immediately following business day if that date is not a business day.

Regulatory Compliance

The declaration was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The official notice was issued from Mumbai on March 23, 2026, by the authorized signatory on behalf of Mirae Asset Investment Managers (India) Private Limited.

Impact on NAV and Eligibility

Following the IDCW payment, the Net Asset Value of both the Regular and Direct plan IDCV options will decline by the extent of the payout amount and any applicable statutory levy. This adjustment reflects the distribution of accumulated income to unitholders, which directly reduces the fund's asset base.

Income distribution will be paid exclusively to unitholders whose names appear in the register of unit holders maintained by the mutual fund or in the statement of beneficial ownership maintained by depositories. The eligibility is determined based on holdings under the IDCW option of the respective plans as on the record date.

Fund Structure

Mirae Asset Aggressive Hybrid Fund operates under the management of Mirae Asset Investment Managers (India) Private Limited, which serves as the Asset Management Company. The fund structure includes Mirae Asset Global Investments Company Limited as the sponsor and Mirae Asset Trustee Company Private Limited as the trustee. The registered and corporate office is located at 606, 6th Floor, Windsor Building, Off CST Road, Kalina, Santacruz (E), Mumbai - 400098.