Vikram Solar Limited shareholders approved a significant board reshuffle and expanded financial flexibility during its 21st Annual General Meeting (AGM) held on August 4, 2026. The meeting, conducted via Video Conferencing/Other Audio Visual Means (VC/OAVM), saw the re-appointment of Gyanesh Chaudhary as Chairman & Managing Director (CMD) for three years and the appointment of Sameer Nagpal as Whole-Time Director and Chief Executive Officer. These moves solidify the company’s leadership structure while granting the Board broader powers to execute strategic investments under Section 186 of the Companies Act, 2013.

The AGM commenced at 2:00 P.M. IST and concluded at 3:22 P.M. IST, with 70 members in attendance. Gyanesh Chaudhary chaired the proceedings, which were scrutinized by Atul Kumar Labh of A.K. Labh & Co. The remote e-voting period ran from July 31 to August 3, 2026. Votes were unblocked on August 4 at 3:35 P.M. IST in the presence of independent witnesses Rahul Lal and Anushree Dasgupta. The voting platform was provided by MUFG Intime India Private Limited.

Key Resolutions Passed

Shareholders passed all eight resolutions proposed for consideration. The primary focus was on governance restructuring and financial authorization. Notably, the re-appointment of CMD Gyanesh Chaudhary received 99.78% support, while the appointment of Sameer Nagpal as CEO garnered 99.99% approval. The resolution to approve investments, loans, and guarantees under Section 186 of the Companies Act, 2013, passed with 99.53% support, enabling the company to pursue capital allocations without repeated shareholder consent for individual transactions within prescribed limits.

Governance and Compliance

The company also ratified material related party transactions with VSL Logistics Solutions Private Limited, which received 99.03% shareholder support. Additionally, the remuneration payable to its Cost Auditor was ratified. Sudipta Bhowal, Company Secretary and Compliance Officer, concluded the meeting by thanking members and the Board. The Scrutinizer’s Report, dated August 5, 2026, confirmed that all resolutions were passed with the requisite majority as per the Companies Act, 2013 and Rule 20 of the Companies (Management and Administration) Rules, 2014. The results were subsequently filed with the National Stock Exchange of India Limited and BSE Limited.

Vikram Solar Limited has published the post-dispatch notice of its 21st Annual General Meeting (AGM) in newspapers, including the Financial Express and Dainik Statesman, on July 11, 2026. The AGM is scheduled to be held on Tuesday, August 4, 2026, at 2:00 PM IST through video conferencing. The meeting covers the financial year ended March 31, 2026, and will seek shareholder approval for the appointment and re-appointment of key directors, including Mr. Sameer Nagpal as Whole-time Director and Chief Executive Officer and Mr. Gyanesh Chaudhary as Chairman & Managing Director. The company has fixed Tuesday, July 28, 2026, as the cut-off date to determine members entitled to vote.

Agenda Highlights

The Board recommends the appointment of Mr. Sameer Nagpal (DIN: 06599230) as Whole-time Director and CEO for a period of three years commencing from May 7, 2026, to May 6, 2029. Shareholders will also vote on the re-appointment of Mr. Gyanesh Chaudhary (DIN: 00060387) as Chairman & Managing Director for a further three years from September 28, 2026, to September 27, 2029. Additionally, the re-appointment of Ms. Ratnabali Kakkar (DIN: 09167547) as Non-Executive Independent Director for a second term of five years is proposed.

Financial Approvals

The AGM notice includes a special resolution to approve investments, loans, guarantees, and securities under Section 186 of the Companies Act, 2013, for an aggregate amount not exceeding ₹15,000 crore. This authorization is intended to support the company's growth plans, including expansion of solar module and cell manufacturing facilities and Battery Energy Storage System (BESS) solutions. An ordinary resolution seeks ratification for remuneration payable to cost auditors, M/s Bhattacharya Roy & Associates, at ₹60,000 plus applicable taxes.

Related Party Transactions

Shareholders will consider an ordinary resolution to approve material related party transactions with VSL Logistics Solutions Private Limited for the financial year 2026-27. The proposed aggregate value of these transactions, covering logistics and supply chain management services, is not expected to exceed ₹1,350 crore. The Audit Committee has reviewed the benchmarking analysis and confirmed that the transactions are in the ordinary course of business and on an arm's length basis.

E-voting and Participation

The company has engaged MUFG Intime India Private Limited to provide remote e-voting facilities. The remote e-voting period commences on Friday, July 31, 2026, at 9:00 AM IST and concludes on Monday, August 3, 2026, at 5:00 PM IST. Members attending the AGM through video conferencing who have not cast their vote remotely may vote during the meeting.