Mount Housing & Infrastructure Limited held its 31st Annual General Meeting on September 29, 2026, in Coimbatore. All four resolutions proposed by the Board were passed with 100% of the votes cast in favour.

The meeting commenced at 11:00 am and concluded at 12:45 pm with a quorum present. The Chairman, Ramesh Chand Bafna, informed members that there were no qualifications or adverse remarks in the statutory and secretarial auditors' reports for the financial year ended March 31, 2026.

Resolutions approved

Members passed both ordinary and special business items. The ordinary business included the adoption of audited standalone financial statements for FY26 and the reappointment of Kalpesh Bafna as a director retiring by rotation. Special business resolutions focused on leadership continuity, including the appointment of Ramesh Chand Bafna as Managing Director and Kalpesh Bafna as Whole-time Director.

Voting and attendance

The company utilized remote e-voting through CDSL from September 26 to September 28, 2026. Ballot paper voting was also available at the venue for members who had not voted electronically. RG Jain Associates served as the scrutinizer to ensure fair and transparent voting processes.

Directors present included Managing Director Ramesh Chand Bafna, Whole-time Director Kalpesh Bafna, and Independent Directors Jitendra Kumar Jain and Alka Kankani. The statutory auditor, Raja & Raman, and the company secretary, Anita Kumari Chhajer, were also in attendance.

What the Numbers Show

The voting data reveals a highly concentrated shareholder base with significant promoter influence. Out of 335 shareholders on record, only 5 participated in the meeting either in person or through proxy (4 promoters and 1 public member). No shareholders attended via video conferencing.

All 27,24,962 votes polled were cast in favour across all four resolutions, with zero votes against or abstained. Promoters and promoter group held 21,94,000 shares, while public non-institutions held 5,30,962 shares. The unanimous support indicates strong alignment between the management and the participating shareholder base, though the low physical attendance suggests reliance on electronic voting mechanisms for broader participation.

Mount Housing and Infrastructure has scheduled its 31st Annual General Meeting for September 29, 2026, seeking shareholder approval for key executive appointments and FY26 financial results.

The Board of Directors convened on September 4, 2026, in Coimbatore to finalise the agenda. The meeting approved the appointment of Mr. Ramesh Chand Bafna as Managing Director and Mr. Kalpesh Bafna as Whole-Time Director, alongside the adoption of audited standalone financial statements for the fiscal year ended March 31, 2026. The AGM notice, along with the Annual Report for FY26, was electronically dispatched on September 5, 2026 to members whose email addresses are registered with the company, its Registrar and Share Transfer Agent (RTA), or depositories. The notice is available on the company's website at www.mounthousing.com and on the BSE Limited website, as well as on the CDSL e-voting portal.

AGM details

The 31st AGM will be held at the company's registered office at No. 1175, Sungam Circle, Trichy Road, Ramanathapuram, Coimbatore at 11:00 am on Tuesday, September 29, 2026. The meeting will be conducted in physical mode only, with no facility for participation through video conferencing or other audio-visual means. Remote e-voting is available from September 26, 2026, at 9:00 am until September 28, 2026, at 5:00 pm. The cut-off date for voting eligibility is September 22, 2026.

Voting rights are proportional to each member's share in the paid-up equity share capital as on the cut-off date. Members who cast their vote through remote e-voting may attend the AGM but cannot vote again. The facility for voting through ballot or polling paper will also be available at the venue for members who have not voted remotely. M/s R G Jain & Associates, Chartered Accountants, Coimbatore, has been appointed as the scrutiniser for remote e-voting and voting at the venue.

Leadership appointments

The board proposed two special resolutions for shareholder approval regarding executive leadership:

• Mr. Ramesh Chand Bafna: Appointed as Managing Director for five years (September 4, 2026 to September 3, 2031). This appointment includes continuation after attaining age seventy, which he will reach on December 21, 2026. His remuneration ceiling is ₹84 lakh per financial year for the first three years.
• Mr. Kalpesh Bafna: Appointed as Whole-Time Director for five years (September 4, 2026 to September 3, 2031). He also retires by rotation at the AGM and seeks re-appointment as a director via an ordinary resolution. His remuneration ceiling is ₹84 lakh per financial year for the first three years.

Both appointees receive a basic salary of ₹5 lakh per month, subject to revision within the overall ceiling. The remuneration package includes medical reimbursement, leave travel allowance, club fees, personal accident insurance, and retirement benefits. In the event of absence or inadequacy of profits, remuneration may be paid as minimum remuneration under Schedule V of the Companies Act, 2013.

Related party arrangement

The board approved a contractual arrangement with M/s White Ink, a related-party proprietorship concern, for architectural and design services. The agreement includes a monthly retainer fee of ₹4.5 lakh plus applicable taxes and project-wise charges. Interested directors abstained from voting on this matter.

Financial context

The board approved the standalone financial statements for FY26. Revenue from operations stood at ₹1,436.33 lakh for FY26, up from nil in FY25 and ₹201.62 lakh in FY24. Profit after tax was ₹19.39 lakh in FY26, compared to a loss of ₹85.92 lakh in FY25.

Mr. Ramesh Chand Bafna holds 59.71% of equity shares, while Mr. Kalpesh Bafna holds 9.58% as of June 30, 2026. Both promoters have provided unsecured loans to the company and receive rent payments for properties used by the firm.