Maximus International Limited will acquire a 40% stake in Quebec Petroleum Resources Limited for ₹18.43 crore to create long-term value in the domestic lubricants and petroleum products market. The board approved the strategic investment in the Vadodara-based company on June 19, 2026. The transaction is a related party deal with Mr. Aniruddh Gandhi, a Non-Executive and Non-Independent Director and Substantial Beneficial Owner, who holds 40% in the target entity. The acquisition will be executed through a Share Purchase Agreement (SPA) and is subject to fulfilment of conditions in the SPA and other transaction documents.

The board meeting was held pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The consideration will be paid in cash, and the transaction is being undertaken on an arm's length basis. The target entity operates in the manufacturing and marketing of oils and lubricants across automotive, industrial, and speciality segments.

Target Entity Details

Quebec Petroleum Resources Limited was incorporated on November 21, 2005. It has a presence in the Indian market for over twenty years.

Financial Performance

The turnover of Quebec Petroleum Resources Limited for the preceding three financial years shows a fluctuating trend.

Maximus International Limited has opened the remote e-voting window for its postal ballot process to seek shareholder approval for the appointment of Mr. Aniruddh Gandhi as a Non-Executive Non-Independent Director. The resolution seeks to regularize Gandhi's position, who was appointed as an Additional Director by the Board on April 18, 2026, subject to member consent. The outcome of this vote will determine the composition of the company's board, as Gandhi holds a significant stake in the firm.

The Board of Directors appointed Mr. Kamal A. Lalani, a Practicing Company Secretary, as the Scrutinizer to oversee the fairness and transparency of the remote e-voting process. The company has engaged Central Depository Services (India) Limited (CDSL) to facilitate the electronic voting mechanism. Shareholders whose names appear on the Register of Members or list of Beneficial Owners as on the cut-off date of Friday, May 29, 2026, are eligible to participate.

E-Voting Schedule and Process

The voting window opens on Friday, June 5, 2026, at 9.00 a.m. IST and closes on Saturday, July 4, 2026, at 5.00 p.m. IST. Shareholders can cast their votes remotely through the CDSL platform or via their respective depository participants. The notice has been dispatched electronically to members with registered email addresses, in compliance with Ministry of Corporate Affairs circulars.

Director Profile and Background

Mr. Aniruddh Gandhi (DIN: 07912519) brings expertise in business development and international trade, specifically regarding specialty oils and lubricants. He holds a Master of Science in Business and Entrepreneurship from Babson College, USA, and a bachelor's degree in Chemical Engineering from the University of Illinois Urbana-Champaign, USA. Prior to this role, he served as a director at Sukruti Infratech Private Limited and Anan Advisory Services Private Limited.

As per the disclosure, Gandhi holds 7,83,32,880 shares, representing 57.58% of the total paid-up share capital of the company, acting as a Significant Beneficial Owner. The company stated that he is not disqualified from being appointed as a Director under Section 164 of the Companies Act, 2013, and has confirmed he is not debarred by SEBI or any other authority.

The resolution requires approval as an Ordinary Resolution. The Scrutinizer will declare the results within two working days after the conclusion of the voting period, and the outcome will be communicated to BSE Limited and uploaded on the company’s website.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE544W01021/fd274216-379a-4b5d-aa71-9ed7fadfbb24.pdf