Milkfood Limited shareholders approved the re-appointment of Harmesh Mohan Sood as a Non-Executive Non-Independent Director during the company's 53rd Annual General Meeting held on September 24, 2026. The resolution was passed as a special resolution, confirming his continued role on the board following his retirement by rotation.

The meeting, conducted at the registered office in Bahadurgarh, Punjab, also saw the adoption of audited financial statements for the fiscal year ended March 31, 2026. Shareholders ratified the remuneration payable to cost auditors for FY27 as part of the ordinary resolutions passed during the session.

Director re-appointment details

Harmesh Mohan Sood, aged 78 years, retired by rotation at the meeting and offered himself for re-appointment, being eligible for the position. The special resolution appointed him in place of himself for the next term. His Director Identification Number is recorded in the company filings as 07951620.

The board composition present at the meeting included Sudhir Avasthi as Managing Director and Chairman. Independent directors Anil Girotra and Jyotsna Bhatnagar were also in attendance. Preeti Mathur served as the Chairperson of the Stakeholders Relationship Committee.

Resolutions passed

Three key items of business were proposed for approval during the session. The first involved the adoption of the audited financial statements for FY26. The second resolution concerned the re-appointment of a retiring director. The third item ratified the remuneration payable to cost auditors for the upcoming fiscal year.

Voting results pending

Voting results for the resolutions will be announced upon receipt of the Scrutinizer’s Report. The company stated that these results will be submitted in compliance with Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The scrutinizer-cum-secretarial auditor was Kamlesh Gupta, a practicing company secretary.

Milkfood Limited confirmed that statutory registers and required documents were open for inspection by members during the meeting. The session lasted approximately 25 minutes, concluding at 9:25 am.

Milkfood Limited allotted 22,00,000 convertible warrants on a preferential basis at ₹30 per warrant during its board meeting held on September 7, 2026. The allotment was made to two non-promoter investors following shareholder approval in July.

The company received the initial subscription amount of ₹7.50 per warrant, representing 25% of the issue price. The allottees must pay the balance 75% within 18 months to convert the warrants into equity shares. Until conversion, the paid-up share capital remains unchanged.

Allotment Details

The warrants were allotted to individuals belonging to the Non-Promoter/Public Category. Both allottees received an equal number of warrants.

The board had initially approved the preferential issue on June 30, 2026. Shareholders approved the move via a special resolution at the Extra-ordinary General Meeting held on July 27, 2026. The Bombay Stock Exchange granted in-principle approval on August 25, 2026.

Conversion and Lock-in

Each warrant entitles the holder to subscribe to one equity share upon payment of the remaining issue price. The warrants are subject to lock-in periods as prescribed under Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

The board meeting commenced at 11:00 am and concluded at 12:00 pm. Rakesh Kumar Thakur, Company Secretary and Compliance Officer, signed the disclosure.