Imagicaaworld Entertainment Limited announced that Suresh Bharathwaj ceased to be an Independent Director effective October 17, 2026. His departure follows the completion of his second term as mandated by corporate governance norms.

Governance Changes

Bharathwaj held multiple key positions within the company's governance structure. He served as the Chairperson of the Stakeholders Relationship Committee and the ESOS Allotment Committee. Additionally, he was a Member of the Audit Committee. All these roles ended simultaneously with his cessation as an Independent Director.

The Board of Directors and Management expressed sincere appreciation for his valuable contributions and guidance during his association with the company. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Disclosure Details

The company filed an intimation with BSE Limited and National Stock Exchange of India Limited regarding this change. The filing confirms that the reason for the change was the completion of his second term as an Independent Director. No other reasons such as resignation or removal were cited.

The detailed disclosure annexure specifies that the cessation is effective from the close of business hours on October 17, 2026. The company Secretary & Compliance Officer, Shweta Singh, signed the document digitally on the same date.

Imagicaaworld Entertainment Limited shareholders approved the audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026, during the company's 17th Annual General Meeting held on September 29, 2026.

The meeting was conducted via Video Conferencing and Other Audio Visual Means, in compliance with Ministry of Corporate Affairs and SEBI guidelines. Jai Malpani, Managing Director, chaired the session after Chairman Rajesh Malpani was unable to attend due to travel commitments. All resolutions put to vote were passed with the requisite majority through remote e-voting and e-voting at the AGM.

Key resolutions passed

The agenda included the adoption of financial reports and the reappointment of a retiring director. The specific items of business conducted are detailed below:

Voting results analysis

Detailed voting outcomes were disclosed in the scrutinizer's report filed on September 30, 2026. The total number of shareholders as on the record date (September 22, 2026) stood at 80,471. A total of 1,374 shareholders attended the meeting via video conferencing, comprising one from the promoter group and 1,373 from the public category.

For Resolution 1 (Adoption of financial statements), the resolution received overwhelming support. Out of 41,99,16,549 votes polled, 41,99,06,475 were cast in favour, representing 99.9976% of the valid votes. Only 10,074 votes were cast against the resolution.

Resolution 2 (Reappointment of Rajesh Malpani) also passed but saw slightly higher dissent, primarily from institutional investors. Of the 41,99,16,548 votes polled, 41,96,72,868 voted in favour (99.9420%), while 2,43,680 votes were cast against (0.0580%).

Breakdown of dissenting votes

The scrutiny report highlights a divergence in voting patterns between public non-institutional shareholders and institutional investors regarding the director's reappointment:

Governance and attendance

The Company Secretary confirmed that the meeting adhered to the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Statutory Auditors' Report and Secretarial Auditors' Report did not contain any qualifications, observations, or adverse comments.

Directors present at the meeting included:

• Mohan Umrotkar, Independent Director and Chairman of the Nomination Remuneration Committee and Audit Committee
• Suresh Bharathwaj, Independent Director and Chairman of the Stakeholders’ Relationship Committee
• Anita Pawar, Independent Director
• Abhijit Chawathe, Independent Director and Chairman of the Corporate Social Responsibility Committee

Manish Malpani, Non-Executive Director, could not attend due to an unforeseen technical issue. The CEO, CFO, and representatives of the statutory and secretarial auditors were present virtually.