Max India Limited announced that its shareholders have approved the appointment of Ms. Mrinalini Mirchandani as an Independent Director and the reallocation of unutilised proceeds from a rights issue. The resolutions were passed through a postal ballot process that concluded on July 12, 2026, with the requisite majority required under the Companies Act, 2013, and SEBI LODR Regulations.

The postal ballot sought shareholder consent on two special resolutions. The first resolution concerned the appointment of Ms. Mrinalini Mirchandani (DIN: 11619010) as an Independent Director (Non-Executive) for a term of five consecutive years. The second resolution sought approval for the reallocation of the unutilised portion of the proceeds from the rights issue of fully paid-up equity shares offered to eligible equity shareholders.

The remote e-voting process commenced on June 13, 2026, and concluded on July 12, 2026. Kapil Dev Taneja, Partner of M/s Sanjay Grover & Associates, served as the Scrutinizer for the process. The total paid-up share capital of the company as on the cut-off date of June 5, 2026, was INR 52,52,28,620, divided into 5,25,22,862 equity shares of INR 10 each.

Voting Results

A total of 3,09,33,950 valid votes were cast via remote e-voting. The detailed results for the resolutions are as follows:

The breakdown of voting participation by shareholder category indicates significant engagement from the Promoter and Promoter Group, which held 26,169,300 shares. Public Institutions held 4,555,976 shares, while Public Non-Institutions held 21,797,586 shares. The resolutions were deemed passed on July 12, 2026, the last date of remote e-voting.

Max India Limited accepted the resignation of Rohit Kapoor from the position of Non-Executive Independent Director effective July 1, 2026, due to increased professional commitments. The resignation was disclosed to stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The director confirmed he could not devote sufficient time to the Board owing to his other professional obligations.

Details of Resignation

The resignation was submitted by Mr. Rohit Kapoor (DIN: 06529360) and the event occurred at 11:03 a.m. on July 1, 2026. The company confirmed that the director does not hold directorships in any other listed entities. The disclosure was submitted to BSE Limited and the National Stock Exchange of India Limited.