Maxgrow India Limited has formally submitted the voting results and the Scrutinizer’s Report for its 33rd Annual General Meeting (AGM) held on September 28, 2026. The company confirmed that all five resolutions placed before shareholders were passed with the requisite majority.

The proceedings were conducted in accordance with the Companies Act, 2013, and SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Mr. Shiv Kumar Pasi served as the Chairman of the meeting after being appointed by Director Mr. Krishnan. Notably, Non-Independent Director Mr. Amarjit Srivastava and Chairperson/Independent Director Mr. Laxman Medudula were absent due to unavoidable circumstances.

Voting Results Summary

The Scrutinizer, Ms. Bhavika Ghuntla of BYG & Associates, reported that a total of 37,393,925 shares voted in favour across all resolutions, representing 93.61% of the total votes polled. Only 12 shares were cast against any resolution, resulting in an effective opposition rate of nearly zero (0.00%).

The table below summarises the key resolutions passed during the AGM:

Voting Pattern Analysis

The voting data reveals a distinct pattern in shareholder participation. The Promoter and Promoter Group held 35,950,559 shares, all of which were cast in favour of every resolution via remote e-voting. In contrast, Public Non-Institutional investors held 3,994,506 shares, but only 1,443,378 votes were polled from this category, indicating a participation rate of approximately 36.13% among public shareholders who did vote.

The small dissenting vote of 12 shares originated entirely from the Public Non-Institutional category during remote e-voting. No votes were cast against any resolution by the Promoter group or Public Institutions.

Procedural Compliance

The company utilised remote e-voting facilities, which commenced on September 24, 2026, and concluded on September 27, 2026. The cut-off date for voting eligibility was September 21, 2026. Members attending the virtual meeting who had not previously voted were provided an additional 15-minute window post-meeting to cast their votes electronically.

The results have been filed with the BSE Limited under Regulation 44(3) of the SEBI LODR Regulations. The scrutinizer’s report and final voting results are available on the company’s website and the e-voting platform managed by MUFG Intime India Pvt Ltd.

Maxgrow India Limited has scheduled its 33rd Annual General Meeting (AGM) for September 28, 2026. The meeting will be held through Video Conferencing or Other Audio-Visual Means (VC/OAVM). Shareholders will consider several ordinary and special resolutions concerning the company's governance and statutory compliance.

Governance and Audit Changes

The primary focus of the AGM is the appointment of new statutory auditors. The company seeks shareholder approval to appoint M/s. BNK & Associates, Chartered Accountants, to fill a casual vacancy caused by the resignation of M/s. R.B. Jain & Associates. This appointment will cover the period from August 27, 2026, until the conclusion of the current AGM.

Additionally, shareholders are asked to re-appoint M/s. BNK & Associates for a term of five consecutive years, extending until the conclusion of the 38th AGM in 2031. The remuneration for these services will be determined by the Audit Committee and approved by the Board.

Board Composition Updates

The AGM will also address changes to the Board of Directors. A special resolution will be passed to regularize the appointment of Mr. Krishnan as an Independent Director. He was initially appointed as an Additional Director on June 29, 2026. If approved, he will hold office for five consecutive years, not liable to retire by rotation.

Furthermore, Mr. Amarjit Kumar Shrivastav, who retires by rotation at this meeting, seeks re-appointment as a Non-Executive Director.

Financial Context

The AGM notice accompanies the Annual Report for the financial year ended March 31, 2026. During this period, the company continued its operations under a reconstituted Board following the implementation of its Corporate Insolvency Resolution Process (CIRP) resolution plan. The monitoring committee for the resolution plan was dissolved in December 2024.

The company reported no revenue from operations on a standalone basis for FY26. However, consolidated revenue from operations stood at ₹22,42,633.88 lakh, up from ₹275,771.86 lakh in the previous year. Consolidated profit before tax was ₹45,027.74 lakh compared to ₹2,963.25 lakh in FY25.