Mangalam Drugs and Organics Limited has intimated the stock exchanges of the resignation of its Secretarial Auditor, M/s. Ragini Chokshi & Co., Practising Company Secretaries (FRN: 92897), effective August 4, 2026. The disclosure was made on August 6, 2026, pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The resignation letter was submitted by CS Abhishek Shukla, Partner of M/s. Ragini Chokshi & Co., directly to the Members and Board of Directors of the company.

Resignation Details

The following key details of the resignation have been disclosed by Mangalam Drugs and Organics, as required under SEBI Circular bearing reference no. SEBI/HO/CFD-PoD-1/CIR/2023/123 dated July 13, 2023:

Reason Cited by the Auditor

In the resignation letter dated August 4, 2026, CS Abhishek Shukla stated that due to pre-occupancy with professional commitments and other unavoidable reasons, he was unable to devote the necessary time and attention required for carrying out the Secretarial Audit assignment in the manner expected. Accordingly, he considered it appropriate to step down from the said assignment. The company has been requested to take the resignation on record and complete all necessary formalities.

Regulatory Compliance

The intimation was filed by Shweta Patel, Company Secretary (M. No. 74085), on behalf of Mangalam Drugs and Organics. The disclosure, along with the resignation letter from M/s. Ragini Chokshi & Co., has been submitted to both BSE Ltd and the National Stock Exchange of India Limited in compliance with applicable SEBI listing regulations.

Mangalam Drugs and Organics Limited has secured shareholder approval to re-appoint Shri. Praveen Saxena as an Independent Director for a second term of five consecutive years. The resolution was passed via a postal ballot conducted under Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with 99.95% of valid votes cast in favour. This outcome ensures the continuity of leadership within the company's governance structure.

The postal ballot notice was sent to members on May 18, 2026, with remote e-voting facilities provided by the National Securities Depository Limited (NSDL). The voting process commenced on May 19, 2026, and concluded on June 17, 2026. Mr. Brijmohan Maheshwari, Proprietor of M/s. BMM and Associates, was appointed as the Scrutinizer to oversee the fairness and transparency of the e-voting process.

Voting Results Summary

The special resolution received overwhelming support across shareholder categories. A total of 4,500,157 votes were polled, representing 28.43% of the outstanding shares. The breakdown of the voting results is as follows:

The total number of members eligible to vote as on the record date was 25,235. While the promoter group participated actively with a 77.78% turnout of their holdings, the participation from non-institutional public shareholders was lower at 0.92%. The resolution required a special majority, which was comfortably met with the requisite approval from the members.

Procedural Compliance

The company complied with all regulatory requirements, including public advertisements in the Financial Express and Loksatta on May 19, 2026, to inform members about the ballot. The voting rights were reckoned based on the register of members as on May 15, 2026. The Scrutinizer's report confirmed that the e-voting system was blocked at the end of the voting period, and the votes were unblocked and tabulated in the presence of witnesses on June 17, 2026.