Magnum Ventures Limited passed all six resolutions proposed at its 46th Annual General Meeting (AGM) held on September 25, 2026. The final voting results, disclosed pursuant to SEBI (LODR) Regulations, 2015, confirm the adoption of FY26 financial statements and the re-appointment of key directors.

The meeting was conducted via Video Conferencing at 2:00 pm, presided over by Chairman Parveen Jain. The proceedings complied with the Companies Act, 2013, and SEBI regulations. Ms. Aaina Gupta, Company Secretary, welcomed members, while M/s Munish K Sharma & Associates LLP served as the scrutiniser for the e-voting process.

Voting results and shareholder participation

A total of 86 shareholders attended the meeting through video conferencing, comprising 8 from the promoter group and 78 public shareholders. The record date for entitlement to vote was September 18, 2026. The remote e-voting window operated from September 22, 2026, to September 24, 2026.

All six resolutions were passed with significant majority support. The promoters and promoter group voted in favor of all resolutions, accounting for the vast majority of votes polled. Public non-institutional shareholders showed minor dissent on director re-appointments but supported the financial adoption strongly.

Key agenda items addressed

The Company Secretary placed several items of business before the shareholders for approval. These included the adoption of audited financial reports and various directorial appointments:

• Adoption of Audited Standalone and Consolidated Financial Statements for FY26.
• Re-appointment of Mr. Shiv Pravesh Chaturvedi as a Director retiring by rotation.
• Ratification of remuneration for M/s V K Dube & Co., cost accountants, for the cost audit for FY27.
• Re-appointment of Ms. Shalini Rahul as an Independent Director.
• Re-appointment of Mr. Abhay Jain as Managing Director.
• Re-appointment of Mr. Shiv Pravesh Chaturvedi as Whole-time Director.

Scrutiniser's report details

The scrutiniser, CS Vijay Kumar Sharma of Munish K Sharma & Associates LLP, submitted the report on September 25, 2026. The report confirmed that votes were unblocked in the presence of witnesses Mr. Aditya Jain and Mr. Prashant Rai. No invalid votes were recorded across any of the six resolutions.

The management addressed shareholder queries during the live session, satisfying those registered in advance. The meeting concluded with a vote of thanks from the Company Secretary at 2:35 pm.

Magnum Ventures Limited received approval from the National Company Law Tribunal (NCLT), Allahabad Bench, on September 22, 2026, regarding the first motion for its proposed scheme of arrangement.

The tribunal permitted the convening of separate meetings for equity shareholders, secured non-convertible debenture holders, secured creditors, and unsecured creditors of the demerged company. These meetings are scheduled for November 20, 2026, via video conferencing with remote e-voting facilities.

Scheme structure and share exchange ratio

The scheme involves the demerger of the paper manufacturing vertical from Magnum Ventures into Magnum Paperz Limited, a newly incorporated entity. The hotel business, operating under the brand "Country Inn & Suites by Radisson," will remain with Magnum Ventures. To facilitate this separation, the tribunal approved a specific share exchange ratio designed to preserve shareholder equity continuity.

The resulting company will issue two new equity shares of face value ₹10 each to every ten equity shares held in the demerged company. Similarly, nine new compulsorily redeemable preference shares of face value ₹100 each will be issued for every ten such shares held by preference shareholders.

Meeting logistics and approvals

The NCLT dispensed with the requirement to hold meetings for preference shareholders of the demerged company and all stakeholders of the resulting company, citing consent affidavits already on record. For the demerged company, Mr. Gaurav Mahajan was appointed as the common chairperson, while Mr. Dhruv Saxena was named alternate chairperson. Mr. Ramesh Chandra Agarwal will serve as the common scrutinizer.

Notices for the meetings must be sent 30 days in advance, accompanied by the scheme documents and explanatory statements. The companies are also required to publish advertisements in Business Standard (English and Hindi editions) at least 30 days prior to the meetings.

What the numbers show

The scheme mandates a proportionate reduction of share capital in Magnum Ventures to align its capital structure with the residual hotel business after transferring the paper assets. This reduction is not a buyback or liability diminution but a structural adjustment to ensure the post-scheme net worth reflects the retained operations. Consequently, the inter-se shareholding pattern and voting rights remain unchanged, ensuring no preferential benefit accrues to any specific shareholder class.