Gammon India Limited (NSE: GAMMONIND) accepted the resignation of Vishwas Madhusudan Joglekar from the position of Non-Executive Independent Director. The cessation is effective September 9, 2026.

The company disclosed the development in a filing to the National Stock Exchange of India Limited and BSE Limited on September 10, 2026. The move follows a resignation letter dated September 9, 2026, submitted by Mr. Joglekar to the Board of Directors.

Reason for Resignation

Mr. Joglekar cited his pre-occupation in social service activities as the reason for stepping down. In his resignation letter, he confirmed that there are no other material reasons for his departure from the role.

He expressed appreciation for the support extended by the Board of Directors, management, and stakeholders during his tenure. The company requested the exchanges to record the information pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015.

Board Composition Update

Vemparala Dakshinamurty, Whole Time Director and Chairman of Gammon India, signed the intimation letter. The disclosure confirms that Mr. Joglekar does not hold directorships in other listed entities at the time of resignation.

The company’s registered office remains at Hamilton House, Ballard Estate, Mumbai.

Gammon India Limited shareholders approved all four resolutions proposed at its 104th Annual General Meeting held on August 29, 2026. The meeting, conducted via video conferencing and other audio-visual means, saw strong support from promoter groups for all agenda items.

The company disclosed that out of 43,435 shareholders on the record date of August 22, 2026, votes were cast by 62 shareholders representing 39,778,702 shares. This participation accounted for 10.76% of the total outstanding shares held by eligible voters.

Resolution Outcomes

The scrutiniser’s report confirmed the passage of the following resolutions with requisite majorities:

All voting was conducted through electronic means, facilitated by MUFG Intime India Private Limited. The remote e-voting period ran from August 26, 2026, to August 28, 2026.

Shareholder Participation Breakdown

Promoter and promoter group shareholders held 42,657,154 shares and cast 39,553,699 votes in favour across all resolutions, representing 92.72% participation within their category. No promoters voted against any resolution.

Public institutional shareholders held 231,253,759 shares but participated minimally, casting only 139,302 votes (0.06% participation). Notably, public institutions voted against the adoption of financial statements, while supporting the director appointments and cost auditor payment.

Public non-institutional shareholders held 95,662,192 shares and cast 85,701 votes (0.09% participation). This group showed near-unanimous support for all resolutions, with minimal dissent recorded only in the financial statement adoption (65 votes against) and cost auditor approval (25 votes against).

What the Numbers Show

The voting data reveals a stark divergence in engagement levels between shareholder categories. While promoters demonstrated high engagement with a 92.72% vote turnout relative to their holdings, public institutional participation stood at just 0.06%. Despite this low institutional turnout, the few votes cast by public institutions were exclusively against the adoption of the FY26 financial statements, suggesting targeted dissent rather than broad opposition to management proposals. All other resolutions received unanimous or near-unanimous support from both public segments.