Mangalam Drugs and Organics has initiated a postal ballot process to seek shareholder approval for the appointment of Prabhakar Raghunath Zavar as an Independent Director. The proposed term is five consecutive years, commencing September 15, 2026.

Zavar, who has attained the age of 78 years, requires a special resolution under Regulation 17(1A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates that listed entities cannot appoint or continue the directorship of any non-executive director who has reached 75 years of age without such approval. The Board recommends this appointment based on his expertise in accounting and finance.

Voting timeline and eligibility

The company has fixed Friday, September 25, 2026, as the cut-off date for determining eligible shareholders. Those whose names appear in the Register of Members or List of Beneficial Owners as on this date are entitled to vote. The remote e-voting period commences on Friday, October 2, 2026, at 9:00 am and concludes on Saturday, October 31, 2026, at 5:00 pm.

National Securities Depository Limited (NSDL) has been engaged to provide the remote e-voting facility. The scrutinizer for the process is Brij Mohan Maheshwari, Advocate Proprietor of M/s. B.M.M & Associates. Results will be declared on or before Monday, November 2, 2026.

Director profile details

The explanatory statement highlights that Zavar holds no shares in the company and has no other directorships in public companies. His professional background is listed as self-employed, with specific functional expertise in accounting and finance.

Governance implications

The requirement for a special resolution underscores the regulatory scrutiny applied to senior appointments in listed entities. While Zavar’s age exceeds the standard limit for non-executive directors, the company cites his experience and knowledge as justification for his continued role. The appointment is not liable to retire by rotation, ensuring stability in board composition for the next five years.

Mangalam Drugs and Organics Limited has appointed M/s S.N. Nanda & Co, Chartered Accountants, as its statutory auditor for a five-year term concluding at the 58th AGM. The appointment was ratified by shareholders during the 53rd Annual General Meeting held on September 23, 2026.

The company also appointed M/s L.N. Joshi & Co, Practicing Company Secretaries, as secretarial auditors for the same period. These appointments comply with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended in 2024. The previous statutory auditor, M/s V.S. Somani and Co., retired upon completion of their term.

Key resolutions and voting outcomes

Shareholders voted on six distinct items ranging from financial statement adoption to auditor appointments. The table below summarizes the voting outcomes for each resolution:

Notable dissent on related party transactions

While most resolutions received near-unanimous support, the approval of material related party transactions recorded a notable divergence. Non-promoter shareholders cast 17.64% of valid votes against this resolution, compared to 82.36% in favor. Promoter group votes were excluded from this tally as per Regulation 23(4) of SEBI (LODR) Regulations, 2015, which mandates that related parties cannot vote on such matters.

Governance and audit appointments

The AGM formalized several critical governance changes:

• Statutory Auditors: S. N. Nanda & Co., Chartered Accountants (FRN: 000685N), were appointed for five consecutive years, succeeding V.S. Somani & Co.
• Executive Director: Govardhan Murlidhar Dhoot was re-appointed following his retirement by rotation.
• Secretarial Auditors: L. N. Joshi & Co. (CPN: 4216) were appointed via a special resolution for the period until the conclusion of the 58th AGM.
• Cost Auditors: Remuneration payable to Rampurawala Mohammed A & Co. for FY27 was ratified.

Auditor profiles and experience

New disclosures highlight the experience levels of the appointed firms. M/s S.N. Nanda & Co. brings over 60 years of experience auditing public sector undertakings, banks, and companies across major economic sectors. M/s L.N. Joshi & Co. possesses over 25 years of experience in corporate laws, securities laws, and secretarial audits. Both firms have no disclosed relationship with the company's directors.

Meeting logistics and scrutiny

The virtual meeting commenced at 3:00 pm and concluded at 4:00 pm Indian Standard Time. Mr. B.M. Maheshwari, Advocate, served as the scrutinizer and confirmed that the remote e-voting facility operated through National Securities Depository Limited (NSDL) from September 19 to September 22, 2026. The consolidated scrutinizer’s report was submitted to stock exchanges within the prescribed timelines.