Indong Tea Company Limited held its 36th Annual General Meeting on September 28, 2026, via Video Conferencing. The shareholders approved key leadership changes, including the redesignation of Rajesh Garg as Managing Director and the voluntary stepping down of Hariram Garg from his role as Chairman and Managing Director.

The meeting, conducted in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, saw the adoption of audited financial statements for FY26. Hariram Garg, who chaired the session, briefed members on the tea estate's business operations, financial performance, and future growth outlook.

Leadership transitions approved

Shareholders voted to approve the voluntary resignation of Hariram Garg from the position of Chairman and Managing Director. He will continue to serve as Chairman and Executive Director of the company. Concurrently, the board proposed and shareholders approved the redesignation of Rajesh Garg from Non-Executive Director to Managing Director.

Additionally, the meeting ratified the reappointment of Akhil Kumar Manglik as a Non-Executive Independent Director. Three directors retiring by rotation were also reappointed: Madanlal Garg, Rajesh Garg, and Rama Garg.

Governance and audit updates

The statutory auditor, M/s Agarwal Kejriwal & Co, was reappointed for a further term of five years. CS Puja Pujari was appointed as the scrutinizer to oversee the voting process. Remote e-voting was available from September 25 to September 27, 2026, with additional e-voting access provided during the meeting.

Meeting proceedings

The meeting commenced at 11:00 am and concluded at 11:41 am after a 15-minute window for final e-voting. One shareholder registered to speak participated in the session, seeking clarifications on the company’s vision and new ventures. The results of the voting are expected to be declared within two working days.

Indong Tea Company promoter Hariram Garg acquired 4,000 equity shares on the open market between August 29 and September 4, 2026. The transaction was valued at ₹32,133.

This purchase raises Garg’s total holding to 26,70,661 shares, representing 13.75% of the company’s paid-up equity capital. The acquisition reflects a marginal increase in promoter confidence through direct market participation.

Shareholding Details

Prior to this transaction, Garg held 26,66,661 equity shares, accounting for 13.73% of the paid-up equity share capital. The new shares were purchased via on-market transactions.

Regulatory Disclosure

The disclosure was made under Regulation 7(2) read with Regulation 6(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015. Garg submitted the requisite Form C to the company on September 11, 2026.

Indong Tea Company Limited informed BSE Limited of the change in promoter shareholding on September 12, 2026. The company also cited compliance with Regulation 29(2) and 29(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 in its broader reporting context.

Garg’s total voting rights remain unencumbered, with no pledges or liens reported on the acquired or existing shares. The total diluted share capital remains unchanged at Rs. 19,42,10,480, divided into 1,94,21,048 equity shares of face value ₹10 each.