Saraswati Commercial (India) Ltd shareholders approved all 15 resolutions at the 43rd Annual General Meeting held on September 24, 2026. The voting results, disclosed on September 25, 2026, confirm the adoption of FY26 financial statements and re-appointments of key directors.

The meeting, conducted via video conferencing, saw a total of 45 members present virtually. The scrutinizer’s report confirms that all ordinary and special resolutions were passed with overwhelming support, with only two votes cast against across the entire agenda.

Director Re-appointments

Two key directorial appointments were ratified during the meeting. Vallabh Prasad Biyani was re-appointed as a Non-Executive Independent Director for a second consecutive term of five years, effective from February 11, 2027, to February 10, 2032. This decision aligns with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mr. Hetal Khalpada was also re-appointed as a Director retiring by rotation. Biyani brings over four decades of experience in finance and accounts and is a member of the Institute of Chartered Accountants of India (ICAI). He serves as Chairperson of the Stakeholders Relationship, Nomination & Remuneration, and Corporate Social Responsibility Committees.

Material Related Party Transactions

Shareholders approved ordinary resolutions for material related-party transactions to be entered into with 12 associated entities. The promoter group abstained from voting on these specific resolutions as they were interested parties. The approved entities include:

• Winro Commercial (India) Limited
• Singularity Holdings Limited
• Geecee Ventures Limited
• Sam-Jag-Deep Investments Private Limited
• Geecee Fincap Limited
• Four Dimensions Securities (India) Limited
• Urudavan Investment & Trading Private Limited
• Four Dimensions Advisors Private Limited
• Better Time Realtors Private Limited
• Geecee Holdings LLP
• Nebulon Investment Managers Private Limited
• Nebulon Ventures LLP

Voting Results Summary

The consolidated report by Scrutinizer M/s. Avani Gandhi & Associates details the voting outcomes. For non-RPT resolutions (Financials, Director appointments), the promoter group voted in favor. For RPT resolutions, only public shareholders voted.

The low number of dissenting votes (2 shares against) indicates strong shareholder consensus on both governance and operational matters.

Meeting Proceedings and Compliance

The AGM commenced at 2:30 pm and concluded at 2:57 pm. A quorum of 45 members was present throughout the meeting. The proceedings were conducted in compliance with MCA General Circular No. 03/2025 dated September 22, 2025, and SEBI circulars.

Remote e-voting facilities were provided through National Depository Services Limited (NSDL), commencing on September 20, 2026, and closing on September 23, 2026. Voting results were declared upon receipt of the scrutinizer's report on September 25, 2026.

Board Composition and Attendance

Seven directors attended the meeting virtually. Mrs. Rupal Vora served as Chairperson. Other attendees included Mr. Rohit Kothari, Mrs. Vaishali Dhuri, Mr. Hetal Khalpada, Mr. Sandeep Kumar Kejariwal, Mr. Vallabh Prasad Biyani, and Mrs. Neha Bandyopadhyay. Management representatives, including CEO Mr. Rajiv Pathak and Company Secretary Ms. Avani Sanghavi, were also present.

Saraswati Commercial has scheduled its 43rd Annual General Meeting for Thursday, September 24, 2026. The meeting will be held via video conference or other audio-visual means in compliance with Ministry of Corporate Affairs guidelines.

Meeting Details

The AGM is set to begin at 2:30 pm at the company's registered office in Mumbai. Shareholders can attend the meeting remotely using the VC/OAVM facility. The company has dispatched the notice of the AGM along with the annual report for the financial year 2025-26 electronically to members with registered email addresses.

For shareholders who have not registered their email addresses, the company has dispatched letters containing web-links and QR codes to access the Notice and Annual Report, in compliance with Regulation 36(1)(b) of the SEBI Listing Regulations. These documents are also available on the company’s website and stock exchange portals.

Voting and Record Dates

The register of members and share transfer books will remain closed from Thursday, September 17, 2026, to Thursday, September 24, 2026. Members are eligible to vote if their names appear in the register as on the cut-off date specified in the notice. The company is providing remote e-voting facilities through National Securities Depository Limited.

Members who have not registered their email addresses are requested to update their details with their depository participants or the registrar and transfer agent, MUFG Intime India Private Limited. Physical copies of the annual report will be sent only upon specific request.

Ms. Avani Gandhi (Membership No. F9220), Proprietor of M/s. Avani Gandhi & Associates, Practicing Company Secretaries, has been appointed as the Scrutinizer to scrutinize the e-voting process (both remote e-voting and e-voting at the AGM) in a fair and transparent manner.

Board Re-appointments

The agenda includes the re-appointment of Mr. Hetal Khalpada as a Non-Executive Director, who retires by rotation. Additionally, shareholders will vote on a special resolution for the re-appointment of Mr. Vallabh Prasad Biyani as a Non-Executive Independent Director for a second term of five consecutive years, from February 11, 2027, to February 10, 2032.

Related Party Transactions

The meeting will seek approval for material related-party transactions with several group entities. These transactions primarily involve rendering and availing revolving loan facilities, with sanctioned limits ranging from ₹15 crore to ₹250 crore per entity. The companies involved include Winro Commercial (India) Limited, Singularity Holdings Limited, Geecee Ventures Limited, Sam-Jag-Deep Investments Private Limited, Geecee Fincap Limited, Four Dimensions Securities (India) Limited, Urudavan Investment & Trading Private Limited, Four Dimensions Advisors Private Limited, Better Time Realtors Private Limited, Geecee Holdings LLP, Nebulon Investment Managers Private Limited, and Nebulon Ventures LLP.

The transactions are proposed to be carried out in the ordinary course of business on an arm’s length basis until the conclusion of the 44th AGM in FY28. The company noted that these proposals are based on the existing lending business model, while monitoring potential regulatory changes regarding revolving credit facilities.