Maxgrow India Limited announced the voting results for its Annual General Meeting held on June 1, 2026, confirming the adoption of audited financial statements for five financial years following the completion of its Corporate Insolvency Resolution Process. The meeting, convened at the company's registered office in Mumbai, approved the accounts for the years ended March 31, 2021, March 31, 2022, March 31, 2023, March 31, 2024, and March 31, 2025. This action regularizes pending statutory compliances that were delayed due to regulatory constraints during the insolvency proceedings.

The Chairman, Mr. Laxman Medudula, informed members that the company's Corporate Insolvency Resolution Process was initiated by an order of the National Company Law Tribunal, Mumbai Bench, on June 04, 2021. A resolution plan submitted by PP Metallix Limited was approved by the Committee of Creditors and sanctioned by the tribunal on December 06, 2023. Following the implementation of the plan and the reconstitution of the Board of Directors, the company moved to strengthen corporate governance and internal controls.

Key Resolutions Passed

The shareholders transacted several items of business, including the adoption of financial statements and the appointment of statutory auditors and key managerial personnel. The voting results, combining remote e-voting and polling papers conducted at the meeting, were announced upon receipt of the Scrutinizer's Report from M/s. Abhay Kumar Pal & Co.

Appointments and Financial Approvals

The meeting concluded with the adoption of the audited standalone financial statements for the specified periods and the approval of the new board composition. The company confirmed that the remote e-voting facility was provided through MUFG Intime India Private Limited in compliance with the Companies Act, 2013, and SEBI Listing Regulations. All resolutions were passed with the requisite majority, with 3,82,28,344 votes polled in favour and zero votes against.

Maxgrow India Limited announced that Akshay Kene has resigned from the position of Company Secretary and Compliance Officer effective the close of business hours on May 30, 2026. The resignation, attributed to personal reasons, was communicated to the stock exchange pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company acknowledged the resignation and relieved Kene from duties as a Key Managerial Personnel (KMP) effective the stated date. The disclosure was submitted to BSE Limited, where the company is listed under scrip code 521167.

Resignation Details

The filing included specific details regarding the cessation of the role, confirming that the departure was a resignation and not a removal or termination. The company has attached the resignation letter as Annexure-B to the regulatory filing.

The resignation letter, addressed to the Board of Directors, formally tendered the resignation and requested that the necessary forms be filed with the Registrar of Companies and other regulatory authorities. Kene expressed gratitude to the Board and management for their support during the tenure.