Motor & General Finance Limited scheduled a board meeting for October 19, 2026, to approve a 12.5% increase in the remuneration of its Executive Director, Arun Mitter. The proposed hike is effective from August 1, 2026.

The Nomination and Remuneration Committee has already approved the increase and recommended it to the board. The proposal requires member approval via postal ballot under Sections 197, 198, 200, and 203 of the Companies Act, 2013.

Agenda items for approval

The board will consider the following items during the meeting:

• Approval of the special resolution for the remuneration increase for Arun Mitter.
• Appointment of M/s Anjali Yadav & Associates as the scrutinizer for the e-voting process.
• Engagement of Central Depository Services Limited (CDSL) to conduct remote e-voting.
• Appointment of M/s Alankit Assignments Ltd as the registrar and share transfer agent for the voting process.

Governance and compliance details

The company stated that the increase complies with Schedule V of the Companies Act and Regulation 17(6)(e) of SEBI (LODR) Regulations, 2015. The postal ballot notice will be circulated to members for remote e-voting. The meeting serves as an intimation under Regulation 30 of SEBI (LODR) Regulations, 2015.

The Motor & General Finance Limited has submitted the official minutes of its 96th Annual General Meeting to BSE and NSE. The meeting was held via Video Conferencing on September 24, 2026, where shareholders passed all seven proposed resolutions with overwhelming support.

The submission, dated September 30, 2026, confirms the procedural completion of the AGM. 211 members participated remotely, voting on items ranging from financial statement adoption to related party transactions. Sh. Arun Mitter, Executive Director, chaired the proceedings as authorized by the Board, while Chairman & Managing Director Sh. Rajiv Gupta and Joint Managing Director Smt. Arti Gupta were absent due to prior commitments.

Voting outcomes and resolution details

Shareholders voted on several ordinary and special business items via remote e-voting and e-voting during the meeting. The notice convening the AGM was dated August 11, 2026. The scrutinizer's report details the specific vote counts for each resolution, highlighting strong shareholder alignment with management proposals. The e-voting facility was provided through CDSL, with the cut-off date for eligibility being September 17, 2026.

Auditor reports and governance

The Statutory Auditors' report on the financial statements for the year ended March 31, 2026, was unqualified and unmodified. Consequently, it was not read out at the meeting as per Section 145 of the Companies Act, 2013. Sh. Praveen Jain, Partner at M/s Jagdish Chand & Co., represented the statutory auditors. The company submitted the published copy of the result to BSE and NSE on September 28, 2026, in compliance with Regulation 47 of SEBI (LODR) Regulations, 2015.

What the numbers show

The voting data reveals a significant concentration of power in the promoter group regarding key corporate decisions. For the re-appointment of Chairman & Managing Director Sh. Rajiv Gupta (Resolution 2), promoters voted 19,974,121 shares in favour, while public shareholders voted only 1,540,333 shares in favour. This indicates that promoter support was the primary driver for this resolution's passage, reflecting their substantial holding relative to the dispersed public float.

In contrast, for routine matters like the adoption of financial statements (Resolution 1) and auditor remuneration (Resolution 3), total votes cast in favour rose to 26,057,900, indicating broader participation from non-promoter shareholders who likely voted via remote e-voting. The consistent 284 votes against across all resolutions suggest a small, cohesive group of dissenting shareholders, representing a negligible fraction of the total voting power.