Mangalam Industrial Finance Limited has successfully concluded its postal ballot process, announcing the results on March 24, 2026. The company received overwhelming shareholder support for all three proposed resolutions related to material related party transactions with Wardwizard group entities.

Postal Ballot Overview

The postal ballot notice was issued on February 13, 2026, with the remote e-voting period spanning from February 20, 2026, at 9:00 AM to March 21, 2026, at 5:00 PM. The scrutinizer, Kamal Lalani (FCS & B.Com, Practicing Company Secretary), submitted the final report on March 23, 2026.

Resolution Results

All three ordinary resolutions were approved with substantial majority support from shareholders. The resolutions involved revising limits for material related party transactions with three Wardwizard group companies under Section 188 of the Companies Act, 2013, and Regulation 23 of SEBI Listing Regulations.

Resolution 1: Wardwizard Solutions India Private Limited

Resolution 2: Wardwizard Medicare Private Limited

Resolution 3: Wardwizard Foods & Beverages Limited

Shareholding Structure

The company's shareholding pattern reveals a total of 1,42,51,29,928 shares distributed between promoter group and public shareholders. Notably, promoter and promoter group abstained from voting on all resolutions due to their interest in the proposed transactions.

Regulatory Compliance and Advertisement

Following the successful completion of the postal ballot process, the company published newspaper advertisements on March 26, 2026, confirming the completion of dispatch of postal ballot notice and remote e-voting information to members. The advertisement was published in compliance with Regulations 47 and 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The postal ballot was conducted in accordance with the Companies Act, 2013, SEBI Listing Regulations, and MCA circulars. The company utilized NSDL's e-voting platform for the remote voting process. The scrutinizer confirmed that all resolutions were passed with requisite majority, and the voting process was conducted transparently with proper documentation and witness verification during the vote unblocking process.

The advertisement regarding the postal ballot was also published in Financial Express (English), Financial Express (Gujarati), and Arthik Lipi (Bengali) newspapers on March 19, 2026, ensuring comprehensive regulatory compliance throughout the process.

Mangalam Industrial Finance Limited has formally intimated BSE about the re-appointment of its Managing Director, providing comprehensive details under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's board meeting held on March 21, 2026, concluded with the approval of Mr. Venkata Ramana Revuru's re-appointment for another three-year term.

Managing Director Re-appointment Details

Based on the Nomination and Remuneration Committee's recommendation, the board approved Mr. Venkata Ramana Revuru's (DIN: 02809108) re-appointment as Managing Director. His current tenure expires on July 9, 2026, with the new term commencing from July 10, 2026 to July 9, 2029, subject to shareholder approval.

Professional Profile and Experience

Mr. Venkata Ramana Revuru serves as the Chairman and Managing Director (Promoter) of the company, overseeing overall affairs and operations. He holds an MBA from Sri Krishnadevaraya University, Andhra Pradesh, and a Post Graduate Diploma in Information Technology (PGDIT) from Manipal Academy of Higher Education, Karnataka.

With over two decades of experience, Mr. Revuru brings expertise in sales, business development, product training, client servicing, marketing, portfolio management, market research, general administration, and strategic planning. His leadership capabilities enable the company to navigate dynamic market conditions effectively.

Regulatory Compliance and Confirmations

The company confirmed that Mr. Venkata Ramana Revuru is not debarred from holding the office of Director by virtue of any order of the Securities and Exchange Board of India (SEBI) or any other authority. This confirmation aligns with BSE circular requirements issued in June 2018.

Corporate Governance Structure

The intimation reveals the relationship structure among promoter directors, with Mr. Vettukallel Avirachan Sojan (Promoter/Director), Mr. Venkata Ramana Revuru (Promoter/Director), and Mr. Yatin Sanjay Gupte (Promoter/Director) functioning as business partners. This transparency ensures compliance with disclosure requirements under listing regulations.

The formal intimation, signed by Company Secretary and Compliance Officer Samoil Akilbhai Lokhandwala, demonstrates the company's commitment to regulatory compliance and transparent corporate governance practices.