Parmax Pharma EGM passes three resolutions, rejects two

Parmax Pharma Limited held an Extra Ordinary General Meeting (EGM) on May 27, 2026, to vote on the appointment and re-appointment of key directors. The meeting, chaired by Managing Director Umang Alkesh Gosalia, saw shareholders pass resolutions for the Managing Director and two Non-Executive Directors while rejecting proposals for two Independent Directors. The voting process included a remote e-voting facility conducted by Purva Sharegistry India Private Limited, which was open from May 24 to May 26, 2026, alongside ballot paper voting at the meeting.

Voting Results Summary

The company sought approval for five resolutions. While the resolutions for the Managing Director and two non-executive directors received the requisite majority, the proposals for two independent directors failed to secure the necessary approval under the Companies Act, 2013. The scrutinizer for the EGM was M/s. Samsad Alam Khan.

Passed Resolutions

Shareholders approved the re-appointment of Umang Alkesh Gosalia as Managing Director. The resolution received 100% of the valid votes cast, with 2,145,178 shares voted in favor and none against. Additionally, the appointments of Pradeep Ramniklal Gosalia and Salma Badrudin Thobhani as Non-Executive Directors were passed. The resolution for Pradeep Ramniklal Gosalia received 57.04% of the valid votes, while Salma Badrudin Thobhani's appointment secured 69.95% of the valid votes.

Resolution	Votes For	Votes Against	% For	Status
Re-appointment of Umang Alkesh Gosalia (MD)	2,145,178	0	100.00	Passed
Appointment of Pradeep Ramniklal Gosalia (NED)	1,337,664	704,800	57.04	Passed
Appointment of Salma Badrudin Thobhani (NED)	1,640,377	704,801	69.95	Passed

Rejected Resolutions

The EGM saw the rejection of two special resolutions regarding the appointment of independent directors. The proposal to appoint Ashish Atmaram Shah received 69.95% of the valid votes in favor but did not meet the higher threshold required for a special resolution. Similarly, the appointment of Anjana Paresh Shah was not passed, having received the same percentage of votes in favor. Both resolutions faced opposition from public non-institutional shareholders.

Resolution	Votes For	Votes Against	% For	Status
Appointment of Ashish Atmaram Shah (ID)	1,640,378	704,800	69.95	Not Passed
Appointment of Anjana Paresh Shah (ID)	1,640,377	704,801	69.95	Not Passed

Shareholder Participation

A total of 2,345,178 votes were polled, representing approximately 62.68% of the total outstanding shares. The promoter group cast all of its 1,152,450 shares in favor of all resolutions. Public non-institutional shareholders participated with 1,192,728 votes, showing significant opposition to the resolutions for independent directors.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+2.00%	+10.39%	+108.36%	+141.41%	+108.36%	+36.34%

Parmax Pharma Limited has announced the re-appointment of Dr. Umang Gosalia as Managing Director for an extended five-year term. The Board of Directors approved this strategic leadership decision on May 02, 2026, following recommendations from the Nomination and Remuneration Committee.

Board Approval and Timeline

The company's Board meeting, held on May 02, 2026, formally approved Dr. Gosalia's re-appointment as Managing Director for a period of five years. The new term will commence on June 28, 2026, and continue until June 27, 2031. This re-appointment is contingent upon shareholder approval at the upcoming Annual General Meeting or Extra-ordinary General Meeting.

Parameter:	Details
Current Term Ends:	June 28, 2026
New Term Duration:	5 years
New Term Period:	June 28, 2026 to June 27, 2031
Board Meeting Date:	May 02, 2026
Meeting Duration:	16:30 pm to 17:15 pm

Leadership Profile

Dr. Umang Gosalia brings substantial expertise to his continued role as Managing Director. He holds a Ph.D. in Organic Chemistry and possesses over one and a half decades of experience in chemistry and various types of organic reactions. Currently, he oversees all production activities of the company and has been associated with Parmax Pharma since 2016.

Regulatory Compliance

The re-appointment has been made in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided all required disclosures as mandated under Schedule III of the SEBI Listing Regulations and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Compliance Aspect:	Status
Director Independence:	Not related to any other Directors
Regulatory Standing:	Not debarred by SEBI or other authorities
DIN Number:	05153830

Next Steps

The re-appointment will require formal approval from shareholders at the company's ensuing Annual General Meeting or Extra-ordinary General Meeting. This standard corporate governance procedure ensures transparency and shareholder participation in key leadership decisions. The company has notified the Bombay Stock Exchange Limited of this development as part of its regulatory disclosure obligations.