Max Financial Services has received shareholder approval to extend the tenure of its Manager, Mr. V. Krishnan, and to regularise the appointment of Mr. Toru Nakabayashi as a Non-Executive Director. The resolutions were passed through a postal ballot process that concluded on July 5, 2026, with the requisite majority required under the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Special Resolution sought approval for the extension of Mr. V. Krishnan’s term as Manager and Key Managerial Personnel for a period of two years, effective from July 1, 2026, to June 30, 2028. The resolution also authorised a total remuneration of up to ₹2,30,00,000 per annum, comprising fixed compensation of ₹1,90,00,000 and variable pay of up to ₹40,00,000. Additionally, shareholders approved a one-time special performance incentive of ₹25,00,000 for Mr. V. Krishnan.

The Ordinary Resolution concerned the regularisation of Mr. Toru Nakabayashi (DIN: 11703177) as a Non-Executive, Non-Independent Director. He was initially appointed as an Additional Director by the Board on May 13, 2026, and this regularisation makes him liable to retire by rotation.

Voting Results

The postal ballot and remote e-voting process was scrutinised by M/s. Sanjay Grover & Associates, Company Secretaries. The remote e-voting period commenced on June 6, 2026, and concluded on July 5, 2026. A total of 894 members participated in the e-voting for the Special Resolution, representing 30,57,65,934 equity shares, while 894 members participated for the Ordinary Resolution, representing 30,57,71,013 equity shares.

The detailed voting outcomes for the resolutions are summarised below:

Shareholder Participation

The total paid-up share capital of the company as on the cut-off date of May 29, 2026, was ₹69,02,29,542, divided into 34,51,14,771 equity shares of ₹2 each. Promoters and the Promoter Group held 43,16,256 shares and voted entirely in favour of both resolutions. Public Institutions and Public Non-Institutions also participated, with Public Institutions casting 30,10,61,396 votes in favour of the Manager's extension and 29,63,57,432 votes in favour of the Director's regularisation.

max financial services witnessed a notable block trade on the National Stock Exchange (NSE), with the transaction valued at ₹40.81 crores. The trade involved approximately 256,355 shares executed at a price of ₹1591.80 per share, drawing attention from market participants who closely monitor such large-volume transactions.

Block Trade Details

The following table summarises the key parameters of the block trade recorded on the NSE:

Block trades are large-volume transactions typically executed outside the open market order book to minimise price impact. Such trades are generally associated with institutional investors, including mutual funds, foreign portfolio investors, or other large financial entities. The execution of a block deal at a defined price point provides a reference for market participants tracking institutional activity in the stock.