Max Ventures Investment Holdings Private Limited, on behalf of the promoters of max financial services , has declared that no encumbrance has been made on the shares of the company during the financial year ended March 31, 2026. This disclosure was submitted to BSE Ltd., National Stock Exchange of India Ltd., and the Audit Committee of Max Financial Services Limited in compliance with Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The declaration confirms that the promoters and persons acting in concert have not created any direct or indirect encumbrance on the shares of the target company. The only exceptions to this are encumbrances that were disclosed by the depositories through System Driven Disclosure (SDD) and those specifically disclosed to the stock exchanges by the promoters during the financial year ended March 31, 2026.

The filing was signed by Arvind Aggarwal, Director of Max Ventures Investment Holdings Private Limited, on April 6, 2026. The declaration covers the shares associated with the ISIN INE180A01020.

List of Promoters and PAC

The following table lists the promoters and persons acting in concert (PAC) associated with Max Financial Services Limited:

Max Financial Services Limited has opened the remote e-voting period for its postal ballot, scheduled from June 6 to July 5, 2026, to seek shareholder approval for the extension of Mr. V. Krishnan’s tenure as Manager and the regularization of a new director, Mr. Toru Nakabayashi. The company dispatched the notice of the postal ballot electronically on June 5, 2026, in compliance with Section 110 of the Companies Act, 2013, and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. A newspaper advertisement confirming this dispatch was published in Business Standard and Punjab Kesri on June 6, 2026, pursuant to Regulation 47 of the SEBI regulations.

The Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, has approved the extension of Mr. V. Krishnan’s term for two years effective July 1, 2026, to June 30, 2028. The proposed remuneration includes fixed compensation of ₹1.90 crore and variable pay of up to ₹40 lakh, effective April 1, 2026. Additionally, shareholders are asked to approve a one-time special performance incentive of ₹25 lakh for Mr. Krishnan. The company states that the remuneration is commensurate with the size and complexity of the business and industry benchmarks.

The second resolution seeks to regularize the appointment of Mr. Toru Nakabayashi, who was appointed as an Additional Director on May 13, 2026, following the resignation of Mr. Mitsuru Yasuda. Mr. Nakabayashi has been nominated by Mitsui Sumitomo Insurance Company Limited (MSI), which holds a 21.86% stake in the company. His appointment is subject to shareholder approval within three months of his initial appointment date.

The remote e-voting facility is being provided by National Securities Depository Limited (NSDL). Shareholders whose names appear in the Register of Members or the list of Beneficial Owners as on the cut-off date of May 29, 2026, are eligible to vote. The e-voting module will be active from 9:00 a.m. on June 6, 2026, until 5:00 p.m. on July 5, 2026. Physical ballot forms will not be accepted, and the notice has been dispatched electronically. Shareholders with unregistered email IDs or physical share certificates must request login credentials via email to the Registrar and Transfer Agent, M/s. Mas Services Limited.

M/s Sanjay Grover & Associates, Company Secretaries, has been appointed as the Scrutinizer for the e-voting process. The Scrutinizer will submit a report to the Chairman on or before July 7, 2026, following which the results will be announced on the company’s website and communicated to the stock exchanges. The resolutions, if passed, shall be deemed to have been passed on the last date of remote e-voting.

Key Resolutions

Remuneration Details for Mr. V. Krishnan

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE180A01020/381537b22ad445fe.pdf