Maxgrow India Limited (formerly known as Frontline Business Solutions Limited) has submitted copies of its newspaper advertisement for the Notice of Annual General Meeting to BSE Limited, pursuant to Regulation 30 and Regulation 47 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice was published in Mumbai Lakshdeep (Marathi) and Financial Express (English), and has been made available on the company's website at www.maxgrowindia.in . The submission was signed by Shivkumar Pasi, Managing Director (DIN: 10869886), and dated May 08, 2026.

Board Resolutions: Auditor Appointments and AGM

Prior to the advertisement submission, the Board of Directors had convened a meeting on May 05, 2026, at the company's registered office in Ghatkopar East, Mumbai, resulting in three key resolutions. The board approved the appointment of auditors and formally scheduled the Annual General Meeting. The key resolutions are summarised below:

Both auditor appointments are subject to approval of the shareholders at the ensuing Annual General Meeting.

Statutory Auditor: M/s R. B. Jain & Associates

The board approved the appointment of M/s R. B. Jain & Associates (FRN: 103951W), Chartered Accountant, as Statutory Auditors for a term of five consecutive years. The firm was established on April 21, 1983, as a partnership firm registered with the Institute of Chartered Accountants of India, and brings over 35 years of experience across audit and advisory services. Key areas of expertise include:

• Statutory and internal audits
• Taxation advisory covering direct and indirect taxes
• Assurance services for insurance companies, public and private sector banks
• Audit assignments including statutory, branch, concurrent, stock, and receivables audits
• Audits for public sector undertakings, listed public companies, private limited companies, LLPs, partnership firms, trusts, NGOs, co-operative banks, and co-operative societies

The firm has carried out more than 300 branch and head office concurrent and statutory audits of private sector banks, public sector banks, co-operative banks, and the Reserve Bank of India. No relationships between directors and the auditor have been disclosed.

Secretarial Auditor: M/s. BYG & Associates

The board also approved the appointment of M/s. BYG & Associates (C.P. 25628), Practicing Company Secretary, as Secretarial Auditors for a five-year term from FY 2025-26 to FY 2029-30. The Mumbai-based firm holds working experience and proficiency in matters related to company law, SEBI regulations, and various other business laws. No relationships between directors and the auditor have been disclosed.

AGM Details and E-Voting Schedule

The Annual General Meeting for FY 2024-25 is scheduled for Monday, June 01, 2026, at 11:00 a.m. (IST) at Suchita Business Park, Ground Floor, Office No. UG-50, Y. G. Seth Marg, Ghatkopar East, Mumbai 400075. The Annual Report covering financial years 2020-21, 2021-22, 2022-23, 2023-24, and 2024-25, along with the AGM notice, has been dispatched electronically to members who have registered their email addresses with the depositories or the company. Physical copies will be made available free of cost upon request.

The company has engaged MUFG Intime India Private Limited ("MUFG") to provide the remote e-voting facility. The key dates and contact details for the e-voting process are as follows:

Only members whose names appear in the Register of Members or Beneficial Owners as on the cut-off date of May 25, 2026, are entitled to avail the remote e-voting facility or vote through polling papers at the meeting. Members who become shareholders after dispatch of the notice but hold shares as of the cut-off date may obtain their User ID and password by writing to info@maxgrowindia.in .

Shareholder Support and Contact Information

For technical issues related to e-voting through depositories, shareholders may reach out through the following channels:

Members holding shares in physical mode who have not registered or updated their email address are requested to submit their KYC details and Form ISR-1 to the company's RTA — MUFG Intime India Private Limited (formerly Link Intime India Private Limited), Unit: Maxgrow India Limited, C-101, First Floor, 247 Park, LBS Marg, Vikhroli (W), Mumbai-400083. Members in dematerialised mode are requested to update their email address with their respective Depository Participant(s).

Maxgrow India Limited (formerly known as Frontline Business Solutions Limited) submitted its 29th Annual Report for the financial year ended March 31, 2022 to BSE Limited on May 05, 2026, in compliance with Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The delayed submission was attributed to the company's ongoing Corporate Insolvency Resolution Process (CIRP), which had commenced pursuant to an order dated June 04, 2021 passed by the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench. The Annual General Meeting for FY 2021-22 could not be convened due to the CIRP, and the AGM date and dispatch date stated on the BSE portal were included solely to facilitate the submission of the annual report.

Corporate Insolvency Resolution Process

The NCLT order dated June 04, 2021 admitted the CIRP application filed by an operational creditor, following which Shri Mayank Rameshchandra Jain was appointed as Interim Resolution Professional (IRP). The Committee of Creditors (CoC) subsequently confirmed his appointment as Resolution Professional (RP), and the powers of the Board of Directors were suspended and vested with the RP. The resolution plan filed by M/s. PP Metallix Limited was placed before the CoC at its meeting held on January 24, 2022 and was passed with a majority vote in favour. The NCLT approved the resolution plan on December 06, 2023, following which an Interim Monitoring Agency (IMA) was constituted to supervise its implementation and manage day-to-day operations.

The IMA held its Closing Meeting on September 19, 2024, at which the Board of Directors was reconstituted. The Monitoring Committee stood dissolved on December 10, 2024. Upon successful implementation of the Resolution Plan, the following key corporate actions became effective from December 20, 2024:

• Reconstitution of the Board of Directors and its Committees
• Revocation of Powers of Attorney and authorisations issued before and during CIRP
• Cancellation and extinguishment of equity shares held by promoters, promoter group, and public shareholders holding more than 1,000 equity shares
• Issuance of fresh equity shares to Metal Industrial Pte. Limited
• Reclassification of erstwhile promoter and promoter group as public shareholders

Financial Performance for FY 2021-22

The company recorded nil revenue from operations for both FY 2021-22 and FY 2020-21. The following table summarises the standalone financial highlights:

The company did not recommend any dividend for FY 2021-22 in view of its financial position and the ongoing CIRP proceedings. No amount was transferred to reserves during the year, and there was no change in share capital during the period under review. Total fees paid to statutory auditors M/s. ASAT & Associates, Chartered Accountants, for FY 2021-22 stood at Rs. 1.18 Lakhs.

Board Composition and Governance

During FY 2021-22, the Board of Directors remained suspended and all governance functions were exercised by the Resolution Professional. The suspended Board comprised Mrs. Roshni Rahul Saraf (Whole-Time Director and Chief Financial Officer), Mrs. Gita Devi Agarwal (Non-Executive, Non-Independent Director), and Mr. Amit Kumar Singh (Non-Executive, Independent Director). No Board meetings, committee meetings, or Annual General Meeting were held during the year.

Following the reconstitution of the Board, the new composition includes:

All Board committees — including the Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee — were non-functional during FY 2021-22 due to the CIRP. No sitting fees were paid to any director during the year, and no related party transactions of a material nature were identified.

Shareholding Pattern and Share Capital

The total paid-up share capital of the company as on March 31, 2022 comprised 2,13,24,078 equity shares of Rs. 10/- each. The shareholding distribution as on that date is presented below:

Of the total shares, 43.84% were held in dematerialised form with NSDL (93,49,981 shares), 54.25% with CDSL (1,15,67,399 shares), and 1.91% remained in physical form (4,06,698 shares).

Secretarial Audit and Compliance Observations

M/s. Abhay Kumar Pal & Co., Practicing Company Secretaries, were appointed on April 03, 2026 to conduct the Secretarial Audit for the five financial years from April 01, 2020 to March 31, 2025. The Secretarial Auditor issued a Disclaimer of Opinion for FY 2021-22, citing inability to obtain sufficient and appropriate audit evidence due to the CIRP and incomplete records. Key non-compliances and observations noted by the Secretarial Auditor include:

• Non-appointment of Internal Auditor under Section 138 of the Companies Act, 2013
• Vacancy in the position of Company Secretary and Compliance Officer from September 15, 2021 through March 31, 2022, and absence of a whole-time CFO during the year
• Non-filing of Statement of Investor Complaints for the quarters ended March 31, 2021; June 30, 2021; September 30, 2021; and December 31, 2021
• Non-payment of listing fees to BSE for the period under review
• Significant delays in submission of Shareholding Pattern: for the quarter ended March 31, 2021, filed on July 05, 2024, resulting in a delay of 1,171 days; for the quarter ended June 30, 2021, a delay of 1,080 days; for September 30, 2021, a delay of 988 days; and for December 31, 2021, a delay of 896 days
• Delays in submission of financial results: audited results for the quarter and year ended March 31, 2021 filed on August 29, 2024, a delay of 1,187 days; unaudited results for the quarter ended June 30, 2021 filed on August 29, 2024, a delay of 1,111 days; results for September 30, 2021 filed with a delay of 1,018 days; and results for December 31, 2021 filed with a delay of 927 days
• Delays in submission of Reconciliation Reports under Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018, with delays of 1,197 days, 1,136 days, 1,014 days, and 922 days for the respective quarters
• Non-filing of Annual Secretarial Compliance Report for FY 2021-22 within the prescribed 60-day timeline
• Non-maintenance of Structured Digital Database (SDD) as required under SEBI (Prohibition of Insider Trading) Regulations, 2015
• Non-holding of Annual General Meeting during the year under review

The management acknowledged these observations, attributing the delays and non-compliances primarily to the ongoing CIRP and the transition in management. The reconstituted Board has stated that steps have been initiated to regularise pending compliances and strengthen the compliance framework going forward.