Kay Power & Paper shareholders approved the standalone and consolidated audited financial statements for the year ended March 31, 2026, during its 35th Annual General Meeting held on September 21, 2026.

The meeting, chaired by Mrs. Deepa Agarwal, concluded at 4:30 pm. Members also approved the appointment of M/s. Ankush Shinde & Company as statutory auditors for a five-year term.

Key Resolutions

The following resolutions were discussed and voted upon during the proceedings:

Governance Updates

Mrs. Deepa Agarwal was appointed as Managing Director through a special resolution. Ms. Aarushi Chandra was appointed as a Non-Executive Non-Independent Director via an ordinary resolution.

The company also sought shareholder approval under Section 180(1)(a) of the Companies Act, 2013, to transfer land assets to its wholly owned subsidiary. Material related-party transactions pertaining to the subsidiary were also approved.

Voting Process

Remote e-voting was available from 9:00 am on September 18, 2026, to 5:00 pm on September 20, 2026. Ballot paper voting was provided for members who did not vote electronically. M/s. Neha Doshi & Co. served as the scrutinizer for the voting process.

Kay Power & Paper has scheduled its 35th Annual General Meeting for September 21, 2026. The meeting will convene at the company’s registered office in Satara, Maharashtra, at 3:00 pm to address ordinary and special business items. The notice was sent to members on August 25, 2026, along with the annual report for the year ended March 31, 2026. The company also published an advertisement in the regional newspaper Gramodhaar on August 27, 2026.

Board and Management Appointments

Shareholders will vote on the appointment of Mrs. Deepa Agarwal as Managing Director for a five-year term commencing August 12, 2026. The resolution specifies that she will serve without remuneration during this initial period, with future compensation subject to board approval and statutory limits.

Additionally, the agenda includes the appointment of Ms. Aarushi Chandra as a Non-Executive Non-Independent Director. She was initially appointed as an Additional Director on May 28, 2026, and will retire by rotation.

Asset Transfer and Related Party Transactions

The company seeks shareholder approval under Section 180(1)(a) of the Companies Act, 2013, to transfer immovable property to its wholly owned subsidiary, M/s Kay Pulp and Paper Mills Private Limited. The land, measuring approximately 28,000 sq mtr in Borgaon, Satara, will be transferred at book value to facilitate the setup of a 75,000 TPA Kraft manufacturing plant.

The meeting will also approve material related party transactions involving the subsidiary. A contract valued at up to ₹50 crore with Satara Engineering Project and Equipments Limited is proposed for the purchase and installation of plant machinery. Mrs. Deepa Agarwal holds directorship and substantial shares in this related entity.

Statutory Auditor Appointment

Members will appoint M/s Ankush Shinde & Company as Statutory Auditors for five consecutive years, covering financial years 2026-27 through 2030-31. Remuneration will be determined by the Board or Audit Committee.

Voting Details

Remote e-voting via CDSL will open on September 18, 2026, at 9:00 am and close on September 20, 2026, at 5:00 pm. The record date for voting eligibility is September 14, 2026. Members who have cast their vote by remote e-voting prior to the AGM may attend but shall not be entitled to cast their vote again. Ballot voting will be available at the meeting for those who have not voted remotely.