Kolte Patil Developers shareholders have approved the reappointment of Girish Vanvari as an Independent Non-Executive Director for a second consecutive five-year term. The decision was taken at the company’s 35th Annual General Meeting held on July 27, 2026, via Video Conferencing or Other Audio Visual Means. Vanvari’s new term begins on July 29, 2026, and runs through July 28, 2031. He is not liable to retire by rotation.

The filing was submitted pursuant to Regulation 30 and Regulation 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Vinod Eknath Patil, Company Secretary and Compliance Officer, signed the disclosure to the National Stock Exchange of India Limited and BSE Limited on July 27, 2026.

Director Profile

Vanvari, 54, is a Fellow of the Institute of Chartered Accountants of India with over 27 years of consulting experience. His profile includes more than 13 years at KPMG, where he served as National Leader for Tax and member of the India Leadership Team. He previously spent over a decade at Arthur Andersen. His expertise spans M&A tax practice, transactions, and restructuring across sectors including manufacturing, infrastructure, telecom, IT/ITes, energy, financial services, auto, pharmaceuticals, and FMCG.

Regulatory Compliance

The disclosure confirms that Vanvari is not debarred or disqualified from serving as a director by the Ministry of Corporate Affairs, SEBI, or any other statutory authority. There are no disclosed relationships between directors requiring further reporting under Schedule III of the Listing Regulations. The reappointment strengthens the independent oversight capability of Kolte Patil Developers’ Board during its current growth phase in the real estate sector.

Kolte Patil Developers Limited concluded its 35th Annual General Meeting (AGM) on July 27, 2026, approving critical governance changes and financial statements for FY26. The meeting, conducted via Video Conferencing or Other Audio Visual Means (VC/OAVM), saw shareholders endorse the extension of the utilization period for preferential issue proceeds and appoint M/s Harshad S. Deshpande as Cost Auditor. However, the reappointment of director Asheesh Mohta revealed notable dissent among institutional investors, highlighting a divergence in shareholder sentiment on board composition.

The proceedings were scrutinized by Nitin Prabhune, a Practicing Company Secretary appointed by the Board on May 22, 2026. The e-voting facility remained open from July 24, 2026, at 9:00 AM IST to July 26, 2026, at 5:00 PM IST. A total of 41,127 shareholders were on record as of July 20, 2026, with 36 shareholders attending via VC/OAVM (10 promoters, 26 public). No shareholders attended physically or via proxy.

Voting Results by Resolution

Shareholders voted on five items of business. While promoter group support was unanimous across all resolutions, public institutional investors showed varying levels of opposition, particularly regarding the reappointment of Asheesh Mohta.

Governance and Compliance

The Board recommended these resolutions for consideration. Representatives from S R B C & CO LLP, the Statutory Auditor, and Mehta & Mehta, the Secretarial Auditor, were present to address queries. The company received one request for representation from a corporate body. Documents including the Register of Directors and Key Managerial Personnel under Section 170(1) of the Companies Act, 2013, and the Register of Contracts with Related Parties under Section 189(1) were available for e-inspection.

What the Numbers Show

The voting pattern reveals a distinct split in shareholder alignment. While the promoter group held 65,458,747 shares and voted unanimously in favor of all resolutions, public institutional investors voted against the reappointment of Asheesh Mohta with 2,507,496 votes (42.47% of their polled votes). This contrasts sharply with their unanimous support for the financial statements and the extension of the preferential issue utilization period. The extension allows management greater flexibility in deploying raised funds, aligning disbursements with project execution cycles. Meanwhile, the clean audit report signals robust financial reporting practices for FY26.