MFL India Limited shareholders adopted the audited financial statements for FY26 and re-appointed Managing Director Anil Thukral during the 43rd Annual General Meeting held on September 29, 2026.

The meeting was conducted via Video Conferencing and Other Audio Visual Means at 12:30 pm. The Board of Directors and Auditors Report for the financial year ended March 31, 2026 were approved as ordinary resolutions. Mr. Thukral, who retired by rotation, was re-appointed following his eligibility confirmation.

Governance and audit appointments

Members approved the appointment of Ms. Shubhani Gupta as the Secretarial Auditor for a five-year term commencing April 1, 2026, until March 31, 2031. The resolution was passed as an ordinary resolution.

Additionally, the company secured shareholder approval for material related party transactions with two entities:

• Artha Logistics Private Limited
• Saaverde Logiinfra Private Limited

Both approvals were granted through ordinary resolutions. The meeting was chaired by Mr. Thukral, with CFO Khemraj, Independent Director Atul Kumar, Director Jafar Ahmed, and Company Secretary Nupur in attendance. Independent Director Meenakshi Aggarwal was absent.

Voting and compliance details

Remote e-voting facilities were provided to members pursuant to Regulation 44 of the Listing Regulations. Members present at the AGM who had not voted electronically were allowed to cast their votes at the end of the meeting. No voting by show of hands was conducted.

M/s Amit Agrawal & Associates served as the scrutinizer for the poll and remote e-voting process. The company confirmed compliance with the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations regarding the convening and conduct of the meeting. The results of the e-voting were disseminated to the stock exchange and uploaded to the company website.

MFL India has scheduled its 43rd Annual General Meeting (AGM) for Tuesday, September 29, 2026. The board also approved material related-party transactions worth up to ₹12 crore combined with two logistics entities for FY27.

The meeting will be held through Video Conferencing or Other Audio Visual Means (VC/OAVM) starting at 12:30 pm. The record date for voting eligibility is Tuesday, September 22, 2026. Remote e-voting opens on Friday, September 25, 2026, at 9:00 am and closes on Monday, September 28, 2026, at 5:00 pm. The company has appointed MUFG Intime India Pvt. Ltd. to provide the remote e-voting facility.

Key Resolutions Approved

The board considered several critical resolutions during its meeting on September 1, 2026:

• Director Report: Approval of the Director Report for FY26, signed by Managing Director Anil Thukral and Director Jafar Ahamed.
• Re-appointment: Recommendation for the re-appointment of Anil Thukral (DIN: 01168540), who retires by rotation. His classification in MCA records was corrected from “Professional Director” to “Promoter Director”.
• Secretarial Auditor: Note of resignation of CS Priyanka Agarwal effective August 31, 2026. Appointment of CS Shubhani Gupta (M. No. A60015) for a five-year term (FY27 to FY31).
• Internal Audit: Appointment of M/s APJ & Co. as Internal Auditor up to FY2027-28.
• AGM Logistics: Appointment of M/s Amit Agrawal & Associates as Scrutinizer for the remote e-voting process.

Related Party Transactions

The board approved material related-party transactions with two entities linked to the promoter family for transportation, logistics services, and vehicle hiring. No such transactions have occurred to date; these approvals seek shareholder consent for potential future business opportunities.

Both transactions represent approximately 9.08% of the company’s annual consolidated turnover for FY25. The Audit Committee has approved these deals, stating they are at arm’s length pricing and in the ordinary course of business. Related parties are barred from voting on these resolutions.

Capital Reduction Update

The company noted that its petition for the reduction of paid-up capital from ₹36.03 crore to ₹3.60 crore remains pending before the NCLT, New Delhi. The next hearing is scheduled for September 22, 2026. This scheme also involves writing off accumulated losses to the extent of the capital reduced.

What the Numbers Show

The proposed related-party transactions total ₹12 crore, which is significant relative to the company’s scale, representing nearly 9% of the previous year’s turnover. This highlights a dependency on promoter-linked entities for core operational inputs like vehicle hiring and logistics, given the company’s stated lack of sufficient internal vehicle capacity.