McLeod Russel India Limited disclosed on October 9, 2026, that an agreement to pledge promoter shares with National Asset Reconstruction Company Limited (NARCL) has been executed. This move follows the signing of a Master Restructuring Agreement (MRA) in late September.

The pledge involves shares held by Aditya Khaitan, Managing Director and Promoter, and Kavita Khaitan, a member of the Promoter Group. The transaction is part of the terms outlined in the MRA signed earlier this month.

Details of the Pledge Agreement

The company filed a disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. The agreement is titled "Unattested Agreement of Pledge of Shares" and was executed among the company, the promoters, and NARCL.

The pledge will be created through the depository system. The company stated that necessary disclosures will be made in accordance with applicable laws. This filing serves as a continuation of the letter dated September 29, 2026, regarding the execution of the MRA.

Key Parties Involved

The disclosure confirms that the restructuring process is progressing through specific legal and financial instruments involving key stakeholders and the asset reconstruction entity.

McLeod Russel India Limited held its 28th Annual General Meeting (AGM) on September 30, 2026. The company adopted audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026.

The meeting was conducted via Video Conferencing and Other Audio Visual Means. A total of 102 members attended the virtual session. The Board of Directors presented reports for the period ending March 31, 2026, which were taken as read with shareholder approval.

Voting results and scrutiny

On October 1, 2026, the company disclosed the consolidated e-voting results and the Scrutinizer's Report pursuant to Regulation 44(3) of SEBI (LODR) Regulations, 2015. All four ordinary resolutions proposed in the AGM Notice were passed by shareholders with the requisite majority.

The voting process was scrutinized by Atul Kumar Labh of A. K. Labh & Co. The remote e-voting period remained open from September 27 to September 29, 2026. Votes were unblocked after the AGM concluded in the presence of two witnesses.

Resolution outcomes

Shareholders approved several ordinary business items during the proceedings. The following table outlines the primary resolutions transacted at the meeting and their voting outcomes:

Pradip Bhar, who serves as Whole-Time Director and Chief Financial Officer, was re-appointed as a Director liable to retire by rotation. Additionally, the remuneration payable to the Cost Auditors for the financial year ending March 31, 2027, was ratified by the members.

Meeting proceedings and attendance

Aditya Khaitan, Chairman of the company, chaired the meeting and greeted the members. The requisite quorum was present to call the meeting to order. Several independent directors attended the session, including Amar Nath Dhar, Indrajit Sengupta, Rupanjana De, and Sanjay Ginodia.

Statutory Auditor Ajit Kumar Dalmia from Lodha & Co. LLP and Secretarial Auditor A K Labh from A. K. Labh & Co. were also present virtually. Alok Kumar Samant, Company Secretary, facilitated the proceedings and announced that remote e-voting results would be declared within two working days.

Governance and compliance

The Chairman noted that qualifications or observations from the Statutory Auditors' report were read aloud in accordance with Section 145 of the Companies Act, 2013. Pradip Bhar read these qualifications along with the management's reply. The meeting concluded at 1:16 pm after a vote of thanks proposed by the Company Secretary.