Chowgule Steamships shareholders approved all 11 resolutions at its 63rd Annual General Meeting (AGM) on August 05, 2026, in Vasco-Da-Gama, Goa. The unanimous backing by non-interested shareholders validates critical related party transactions with group entities, including a ₹1,000 lakh financial accommodation to Angre Port Private Limited. This approval allows the company to proceed with strategic operational leases and capital investments without regulatory hindrance.

The Board of Directors sought approval under Section 188 of the Companies Act, 2013 and Regulation 23 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Scrutinizer Pranay D. Vaidya of M/s. Pranay D. Vaidya & Co. confirmed that all resolutions passed with the requisite majority pursuant to Section 108 of the Act and Rule 20 of the Companies (Management & Administration) Rules, 2014. A key compliance feature was the abstention of the promoter group from voting on nine special resolutions involving related parties, ensuring adherence to conflict-of-interest norms.

Voting Breakdown and Promoter Abstention

The total equity shareholding stood at 36,308,425 shares as of the record date, July 29, 2026. While the promoter group held 26,189,183 shares (72.1% of total), they cast zero votes on all related party transactions. This included resolutions concerning Dolphin Investments Limited, Chowgule Lavgan Shiprepair Private Limited, Angre Port Private Limited, Chowgule Fiberglass Ships Private Limited, and Chowgule Prestige Private Limited. A total of 18,145,662 equity shares were treated as invalid votes for Items 2 to 10 as they were cast by interested persons.

The promoter group voted only on ordinary business items where they had no interest, specifically the adoption of audited standalone financial statements for FY26 and the investment of surplus funds in immovable property. In these instances, promoters cast 17,640,037 votes in favour.

Key Resolutions Approved

The special resolutions covered a range of commercial arrangements essential for the company’s ongoing operations:

• Dolphin Investments Limited: Approval for related party transactions and payment of liaisoning fees.
• Chowgule Lavgan Shiprepair Private Limited: Authorization for leasing movable and immovable property, plus reimbursement for land fencing expenditure.
• Angre Port Private Limited: Approval for property leasing and a financial accommodation measure up to INR 1,000 lakhs via loan, inter-corporate deposit, advance, investment, or guarantee.
• Chowgule Fiberglass Ships Private Limited & Chowgule Prestige Private Limited: Approval for related party transactions, including vessel operations.

Additionally, shareholders approved the re-appointment of Vijay Vishwasrao Chowgule, who retires by rotation. The meeting saw 43 members present personally, along with two proxies and two authorized representatives. Remote e-voting was conducted from August 02 to August 04, 2026, with MUFG Intime India Private Limited serving as the e-voting agency. Of the total votes cast, 203 were in favour and 4 were against via remote electronic voting prior to the meeting.

Chowgule Steamships Limited has re-appointed Vijay Vishwasrao Chowgule as a Non-Executive Director, effective August 05, 2026. The company name Board approved the move after Chowgule retired by rotation and offered himself for reappointment. This continuity in leadership aims to leverage his extensive experience in the shipping industry, where he has been associated with the firm for more than 30 years.

The reappointment was formalized under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made to BSE Limited on August 05, 2026, citing compliance with SEBI Circular ref. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. Rinky Gupta, Company Secretary and Compliance Officer, signed the intimation.

Director Profile and Qualifications

Vijay Vishwasrao Chowgule (DIN: 00018903) holds a Bachelor of Science in textile chemistry and industrial management from the Georgia Institute of Technology in Atlanta, Georgia, USA. He has served on the Boards of Directors of various public and private companies, accumulating vast business experience. His long-standing association with Chowgule Steamships is noted as a significant contributor to the company's growth.

Disclosure of Relationships

As per regulatory requirements, the filing discloses familial relationships between directors:

These relationships are standard disclosures required for board appointments and do not imply any conflict of interest unless specified in further filings.