Shareholders of Madhusudan Industries approved the re-appointment of Daarrpan Shah as an independent director for a second five-year term effective December 30, 2026.

The resolution was passed at the company’s annual general meeting held on September 9, 2026. The appointment aligns with Regulation 30 of the SEBI (LODR) Regulations, 2015, and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Director Profile

Daarrpan Shah holds an MBA in Financial Planning and Insurance. He brings over 19 years of experience in financial management and insurance consulting. His expertise includes project costing, profit projections, and securing business funding for small industries.

The company confirmed that Shah has no relationship with other directors and is not debarred from holding office by SEBI or any other authority.

Madhusudan Industries shareholders approved the audited financial statements for FY26 and reappointed two directors at its 80th annual general meeting held on September 9, 2026. The resolutions passed with 97.84% support from votes polled.

Mr. Prem Chand Surana chaired the meeting in the absence of a permanent chairman. The company secretary confirmed that the requisite quorum was present and that statutory registers were available for online inspection. Parikh Dave & Associates served as the scrutinizer for the voting process.

Resolutions Passed

Members voted on ordinary and special business items. The auditors’ report and secretarial audit report contained no qualifications or adverse remarks. All three resolutions received identical voting patterns.

Mr. Daarrpan Shah was reappointed for a second term of five years as an independent director. Mr. Premchand Surana, who retires by rotation, offered himself for reappointment and was approved by members.

Voting Breakdown

The company provided remote e-voting from September 6 to September 8, 2026. Members attending via video conference could also vote electronically during the meeting. There were 6,331 shareholders on the record date of September 2, 2026. A total of 52 shareholders attended via video conferencing: six from the promoter group and 46 from the public category.

Promoter and promoter group shareholders held 3,014,401 shares and voted 100% in favour of all resolutions. Public institutional shareholders held 10,089 shares but did not cast any votes. Public non-institutional shareholders held 2,350,510 shares; 233,777 votes were polled from this segment, representing a 9.95% participation rate.

Overall, 3,248,178 votes were polled out of 5,375,000 outstanding shares, resulting in a 60.43% turnout. Of the votes polled, 97.84% were in favour and 2.16% were against across all resolutions. The dissenting votes originated entirely from the public non-institutional segment, where 30.02% of polled votes were cast against the proposals.

No questions were raised by shareholders during the session. The meeting concluded at 12:00 pm.