MKVentures Capital Limited has secured shareholder approval to appoint Mr. Ajay Popatlal Shah as its Managing Director & Chief Executive Officer for a five-year term. The postal ballot, conducted through remote e-voting from June 05, 2026, to July 04, 2026, also approved his appointment as a Director of the company.

The resolutions were passed with an overwhelming majority, with 99.99% of valid votes cast in favour. The appointment as Managing Director & Chief Executive Officer is effective from May 28, 2026, until May 27, 2031, and Mr. Shah will not be liable to retire by rotation.

Voting Results

The Scrutinizer's Report, dated July 06, 2026, confirmed the outcome of the postal ballot. A total of 2,862,899 votes were polled across both resolutions, representing 74.49% of the outstanding shares. The detailed voting pattern is summarised below:

Procedural Details

The postal ballot was conducted in compliance with the Companies Act, 2013, and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Shruti Somani, Practicing Company Secretary, served as the Scrutinizer for the e-voting process. The record date for determining eligibility was May 29, 2026, and the e-voting facility was provided by the Central Depository Services Limited (CDSL).

The company disclosed that the promoters, who held 2,858,027 shares, voted entirely in favour of the resolutions. Public non-institutional shareholders cast 4,872 votes, with 93.78% supporting the appointments.

MKVentures Capital has published the postal ballot notice in newspapers on June 04, 2026, to seek shareholder approval for the appointment of Mr. Ajay Popatlal Shah as Managing Director and Chief Executive Officer. The appointment, subject to regulatory approvals, is proposed to be effective from May 28, 2026, to May 27, 2031. The company has fixed Friday, May 29, 2026, as the cut-off date for determining shareholder eligibility for the remote e-voting process.

The Board of Directors, at its meeting held on May 28, 2026, approved the appointment of Mr. Shah, who brings approximately 30 years of professional experience, including nearly two decades at EY and a decade at KPMG. Consequently, Mr. Madhusudan Kela was re-designated from Managing Director to Non-Executive, Non-Independent Director effective May 28, 2026. The Reserve Bank of India had granted its approval for the appointment via a letter dated April 24, 2026.

The remote e-voting period commences at 09:00 A.M. (IST) on Monday, June 8, 2026, and concludes at 05:00 P.M. (IST) on Wednesday, July 7, 2026. Ms. Shruti Somani, a Practicing Company Secretary, has been appointed as the Scrutinizer to conduct the postal ballot process. The results of the voting will be announced on or before Monday, July 6, 2026.

Remuneration Structure

The remuneration payable to Mr. Ajay Popatlal Shah as MD & CEO includes a base salary of ₹50,00,000 per annum, a House Rent Allowance of ₹25,00,000 per annum, and a performance-linked bonus of ₹20,00,000 per annum. The total gross annual salary amounts to ₹1,19,97,500. In the event of inadequate profits, the company will pay the remuneration as minimum remuneration in accordance with Schedule V of the Companies Act, 2013.

Financial Performance

For the financial year ended March 31, 2026, the company reported a standalone net profit of ₹1,118.06 lakh, an increase from ₹937.70 lakh in the previous year. Total income for the year stood at ₹1,987.15 lakh, while total expenses were ₹622.33 lakh. The Capital to risk-weighted assets ratio (CRAR) was reported at 88.05% as of March 31, 2026.