Modern Engineering & Projects Limited announced the appointment of Abhijit Jayant Deshpande as an Additional Independent Director of the company with immediate effect on May 12, 2026. The appointment was made on the recommendation of the Nomination & Remuneration Committee at a Board of Directors meeting held on the same date. The board meeting commenced at 4:30 p.m. and concluded at 5:05 p.m. The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Appointment Details

The key details of the appointment, as disclosed in Annexure-I submitted to BSE Limited, are summarised below:

Profile of Abhijit Jayant Deshpande

Abhijit Jayant Deshpande is a senior power sector professional with over 35 years of experience spanning electricity distribution, regulatory governance, power procurement, tariff determination, renewable energy integration, project management, automation in management, and policy implementation. He was associated with Maharashtra State Electricity Distribution Company Limited (Mahavitaran), described as the largest regulated electricity utility in the country. He has also served as Secretary of the Maharashtra Electricity Regulatory Commission (MERC)—a statutory regulatory body constituted under the Electricity Act, 2003—for a period of five years.

Regulatory Compliance

The appointment disclosure was made in accordance with Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company has confirmed that Abhijit Jayant Deshpande is not debarred from holding the office of Director by virtue of any order of the Securities and Exchange Board of India or any other authority. The disclosure was signed by Managing Director Fattehsingh Krishnrao Patil on May 12, 2026, from Mumbai.

Modern Engineering & Projects has announced securing a major infrastructure contract worth ₹60.00 crore from Tata Steel Limited. The work order encompasses bituminous trunk road construction as part of the Neelachal Ispat Nigam expansion project, representing a significant business development for the company.

Regulatory Disclosure

The company has made the announcement through a formal disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was signed by Managing Director Fattehsingh Krishnrao Patil and submitted to BSE Limited, ensuring compliance with regulatory requirements for material contract announcements.

Contract Specifications

The agreement is structured as an Item Rate Agreement with payments regulated based on actual quantities executed. The estimated contract price stands at ₹60.00 crore, which is net of GST, with all other taxes, duties, levies, and cess included in the item rates.

Project Details

The contract involves comprehensive road construction activities at the Neelachal Ispat Nigam expansion site. The project specifications focus on priority bituminous trunk road development, which will support the expanded operations of the steel manufacturing facility. The work order represents a domestic contract with no related party transaction implications.

Strategic Significance

This contract award strengthens Modern Engineering & Projects' position in the infrastructure development sector. The association with Tata Steel Limited, a leading steel manufacturer, demonstrates the company's capability to handle large-scale industrial infrastructure projects. The one-year completion timeline indicates the project's substantial scope and the company's commitment to timely execution.

The ₹60.00 crore order represents a notable addition to the company's order book. The project involves specialized bituminous road construction, showcasing the company's technical expertise in infrastructure development for industrial facilities.