MPS Limited has appointed Piyush Jain as its Company Secretary and Compliance Officer, effective August 29, 2026. The appointment follows the resignation of Raman Sapra, whose tenure ended on August 28, 2026.

The Board of Directors approved the move on August 25, 2026, based on the recommendation of the Nomination and Remuneration Committee. The decision was made during a board meeting that commenced at 8:00 am and concluded at 9:15 am.

Appointment Details

Jain brings over a decade of experience in corporate laws, securities regulations, and foreign exchange management act (FEMA) compliance. He holds membership number A44656 with the Institute of Company Secretaries of India.

Prior to joining MPS Limited, Jain headed the compliance and secretarial function at R Systems International Limited. He also previously worked with DLF Limited, where he gained exposure to corporate affairs in a large listed conglomerate environment.

His expertise includes managing listed company compliance, board and shareholder matters, securities regulations, and complex transactions involving cross-border structures and multi-jurisdictional operations.

Governance Updates

Jain will also serve as the Nodal Officer for the company. Under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, he joins Chairman and CEO Rahul Arora and Chief Financial Officer Prarthana Agarwal as Key Managerial Personnel authorized to make disclosures to stock exchanges.

Arora and Agarwal remain authorized to determine the materiality of events or information for disclosure purposes.

MPS Limited equity shareholders approved the scheme of amalgamation with its holding company, ADI BPO Services Limited, on August 22, 2026. The resolution secured overwhelming backing, with 99.99% of votes polled cast in favor, clearing a critical regulatory step for the consolidation.

The approval follows an extraordinary general meeting and a separate meeting of unsecured creditors convened by the National Company Law Tribunal, Chennai Bench. The NCLT had directed these proceedings in July 2026 to secure necessary approvals under Sections 230 to 232 of the Companies Act, 2013. The primary objective remains consolidating the businesses of the transferor and transferee companies to achieve operational and administrative efficiencies.

Voting Results

The voting process included remote e-voting from August 19 to August 21, 2026, and e-voting during the meeting. Out of 17,105,816 total shares held, 12,394,205 votes were polled, representing a 72.46% turnout. The resolution was passed as a special resolution.

Only 50 votes were cast against the resolution, all from public non-institutional shareholders. The promoter group voted unanimously in favor, casting all their held shares. Institutional investors also showed full support among those who voted.

Meeting Proceedings

The extraordinary general meeting commenced at 10:00 am with a quorum present among the 27,109 shareholders on record as of August 17, 2026. Mr. S. C. Jain, appointed as Chairperson by the NCLT, presided over the proceedings. Key participants included Chairman and CEO Rahul Arora, CFO Prarthana Agarwal, and General Counsel Papinani Radha Rani.

The meeting of unsecured creditors was held at 11:30 am via video conferencing. There were 39 unsecured creditors on the cut-off date of March 15, 2026, with 14 attending the virtual session. Mr. Raman Sapra, Company Secretary and Compliance Officer, explained the background and purpose of the scheme to both attendees.

Next Steps

Mr. Kishore Prakash, the scrutinizer appointed by the NCLT, has consolidated the votes cast through remote e-voting and at the meetings. The final results and the scrutinizer's report will be submitted to the NCLT, stock exchanges, and the Registrar of Companies. The Board of Directors initially approved the scheme in July 2025.