Gaja Alternative Asset Management Limited disclosed that the Hon'ble High Court of Madras has terminated execution proceedings involving its subsidiary, Gaja Trustee Company Private Limited. The order was passed on September 30, 2026, following the filing of a Joint Memo between the claimants and respondents.

The litigation pertains to multiple execution petitions (EP Nos. 91 and 92 of 2023, EP No. 7 of 2024, EP Nos. 15 and 16 of 2025, E.P.(SR) No. 126896 of 2026) and connected applications. Gaja Trustee Company Private Limited, acting as a trustee of Gaja Capital India Fund-I, along with group companies GPE (India) Limited and GPE JV1 Limited, were the award holders in these proceedings.

Outcome of Litigation

The High Court took on record the Joint Memo executed between the Award Holders and the Judgment Debtors, SEPC Limited (formerly Shriram EPC Limited) and Twarit Consultancy Services Private Limited. Pursuant to this agreement, the court closed all referenced execution petitions and associated applications.

Impact on Listed Entity

Gaja Alternative Asset Management stated that it is not a direct party to the proceedings. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as a follow-up to litigation details previously disclosed in the company's Prospectus dated August 21, 2026.

Any financial impact on the company or its subsidiaries will depend on the receipt of amounts from the court and the distribution mechanisms outlined in the constitution documents of the claimant entities. The company confirmed that the details have been posted on its website for public record.

Gaja Alternative Asset Management Limited declared a final dividend of ₹0.75 per equity share of face value ₹5 each for the financial year ended March 31, 2026. The payout, representing a 15% return on face value, was approved by shareholders during the company's 27th Annual General Meeting (AGM) held on September 26, 2026.

The meeting, conducted via video conferencing, saw the adoption of audited financial statements and the re-appointment of key directors. All six resolutions put to vote were passed with requisite majorities, reflecting strong shareholder support for the management’s proposals.

Voting outcomes and director appointments

Shareholders voted on both ordinary and special business items. The resolution for the appointment of M/s Price Waterhouse Chartered Accountants LLP as statutory auditors received significant dissent from institutional investors, though it still passed with an overall majority.

The board also approved the continuation of Mr. Upendra Kumar Sinha as a Non-Executive Director beyond the age of 75 years. This special resolution passed with 99.99% of votes in favour, indicating robust confidence in his leadership despite the age-related regulatory requirement for shareholder approval.

What the Numbers Show

A notable divergence appears in the voting pattern regarding the appointment of new statutory auditors. While public non-institutional shareholders overwhelmingly supported the move with 99.99% in favour, institutional investors showed significant resistance, casting 47.93% of their votes against the appointment of Price Waterhouse Chartered Accountants LLP. This suggests a potential misalignment between institutional governance expectations and the promoter group’s choice of auditor, even though the proposal ultimately secured passage due to the promoter group’s substantial voting weight.