Maxgrow India Limited convened its 33rd Annual General Meeting (AGM) on September 28, 2026, via video conferencing. The meeting addressed routine corporate governance matters, including financial statement adoption and key personnel appointments.

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.

Resolutions and Appointments

Members considered and approved several ordinary and special resolutions. The agenda included the adoption of audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026. Additionally, the company sought approval for the regularisation of an independent director's appointment.

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

Voting and Proceedings

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 meeting concluded at 5:14 pm IST. The scrutinizer’s report and final voting results will be submitted to the stock exchanges and published on the company’s website and the e-voting platform as per regulatory requirements.

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.