Radaan Media Works India Limited shareholders ratified all four resolutions passed during the company's 27th Annual General Meeting held on September 29, 2026. The voting results, disclosed on October 1, 2026, confirm the approval of financial statements and the appointment of key directors.

The scrutiny report by KRA & Associates confirmed that Ordinary Resolutions 1 and 2, along with Special Resolution 3 and Ordinary Resolution 4, were passed with simple or requisite majorities. The e-voting process, facilitated by CDSL, saw participation from promoters and public shareholders, with no votes cast at the physical venue due to the virtual format.

Voting outcomes on key resolutions

The following table summarizes the voting patterns for the primary resolutions concerning governance and financial adoption:

For Resolution 1, which involved the adoption of standalone and consolidated financial statements for the year ended March 31, 2026, promoters cast all their 27,849,790 shares in favour. Public non-institutional shareholders voted 783,937 shares in favour against 168 against. In contrast, for the reappointment of R. Sarathkumar (Resolution 2) and the appointment of Rahhul Sarath (Resolution 3), promoter group members abstained from voting, resulting in lower total votes polled compared to financial adoption items. Public non-institutional shareholders supported these appointments with over 99.9% of votes cast in their respective segments.

Board composition updates

The AGM focused on strengthening governance and operational leadership. Rahhul Sarath, son of Chairperson Radikaa Sarathkumar and Director R. Sarathkumar, was appointed as Whole-time Director for a tenure of three years, effective September 1, 2026. His appointment was ratified via special resolution. M. Uma was appointed as Non-executive Independent Director for a five-year term via ordinary resolution. She meets all independence criteria under the Companies Act, 2013.

Rahhul Sarath holds a BSc in Finance and Accountancy and an IB Diploma, with expertise in data analysis and business intelligence. M. Uma holds a Masters in Corporate Law and an MBA in Import & Export Management, bringing over 10 years of experience in supply chain and ERP operations.

Meeting proceedings and compliance

The virtual meeting, presided over by Radikaa Sarathkumar, commenced at 2:00 pm and concluded at 2:30 pm. One promoter group member and 30 public shareholders attended through video conferencing. Statutory auditors SRSV & Associates, represented by V. Rajeswaran and Madura Ganesan, attended alongside internal auditor Padmaja V. and secretarial auditor Kannan R. of KRA & Associates.

Chief Financial Officer Kaviramani addressed shareholder queries regarding the annual report, while Company Secretary Ramya Ravi confirmed quorum and managed procedural aspects. The meeting complied with Ministry of Corporate Affairs and SEBI circulars on electronic voting. The scrutinizer's report dated September 30, 2026, verified that the remote e-voting process commenced at 9:00 am on September 26, 2026, and ended at 5:00 pm on September 28, 2026.

Radaan Mediaworks received a favorable final order from the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Chennai, setting aside a service tax demand of ₹5.32 crore. The tribunal allowed the company’s appeals regarding CENVAT credit eligibility on telecast fees paid between October 2012 and December 2015.

The order, dated August 21, 2026, was received by the company on September 7, 2026. It resolves three appeals filed in 2017 against orders passed by the Commissioner of Service Tax-II, Chennai. The tribunal confirmed that telecast fees qualify as eligible input services under Rule 2(l) of the CENVAT Credit Rules, 2004, for output services related to the sale of space or time for advertisement.

Regulatory Context

The dispute originated from Statements of Demand issued in 2015 and 2016, where the department alleged that telecast fees were not eligible input services. This led to a disallowance of CENVAT credit amounting to ₹5,32,43,696. The original orders also imposed consequential demands for interest and penalties.

The CESTAT bench cited precedent orders in the company’s own cases to support its ruling. By allowing all three appeals, the tribunal completely set aside the impugned Order-in-Original dated March 24, 2017.

Financial Impact

The resolution eliminates the entire liability associated with the demand. The company disclosed no adverse operational or financial impact from this development. The avoidance of the principal demand, along with accrued interest and penalties, represents a direct positive adjustment to the company’s regulatory liabilities.

What the Numbers Show

The settlement removes a contingent liability that had persisted since 2017. While the absolute value of ₹5.32 crore is specific to this tax period, the confirmation of CENVAT credit eligibility establishes a precedent for similar input service treatments in future assessments, reducing regulatory uncertainty for the company’s advertising-related operations.