Vikran Engineering shareholders approved a debt issuance facility of up to ₹1,000 crore for non-convertible debentures during its 18th Annual General Meeting on September 11, 2026. The resolution was passed as part of the special business agenda.

The meeting, conducted via Video Conferencing and Other Audio Video Means, saw the attendance of 55 members. The Board sought approval to issue senior, secured or unsecured, rated or unrated, listed or unlisted, taxable, redeemable non-convertible debentures or other debt securities through private placement or public issue.

Key Resolutions Passed

Shareholders approved several ordinary and special resolutions during the proceedings. The key outcomes included:

• Adoption of audited financial statements for FY26.
• Reappointment of Mr. Nakul Markhedkar as a Director by rotation.
• Declaration of dividend on equity shares for FY26.
• Ratification of remuneration for Cost Auditors for FY27.
• Approval of remuneration for Key Managerial Personnel Mrs. Kanchan Markhedkar (CHRO) and Mr. Vipul Markhedkar (CBO).

Corporate Governance Updates

The Company also secured shareholder approval for structural and operational flexibility. This included amendments to the Object Clause of the Memorandum of Association and alterations to the Articles of Association.

Additionally, the Board obtained limits under Section 180(1)(a) and Section 180(1)(c) of the Companies Act, 2013 for borrowing. Limits under Section 186 were also approved for giving loans, guarantees, securities, and making investments.

Management Attendance

The Chairman and Managing Director, Mr. Rakesh Markhedkar, briefed members on the company’s performance for the financial year ended March 31, 2026. He highlighted strategic initiatives in the renewable energy segment, execution capabilities, and the order book position.

Other directors present included Whole Time Directors Mr. Avinash Markhedkar and Mr. Nakul Markhedkar, Independent Directors Mr. Rakesh Kumar Sharma, Mr. Arun Unhale, and Ms. Priti Savla, along with CFO Mr. Ashish Bahety.

Vikran Engineering has paid a penalty of ₹4,01,400 to resolve a Goods and Services Tax (GST) compliance issue involving goods detained in transit without valid documentation.

The State Taxes Officer, Kashmir, Jammu and Kashmir, issued a Show Cause Notice cum Order in Form GST DRC-01 on August 22, 2026. The order was passed under Section 129(3) of the CGST Act, 2017, citing contravention of Section 129(1) for moving goods without a valid E-Way Bill and tax invoice during the August 2026 tax period.

Regulatory Disclosure

The company disclosed the matter pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It noted that the order was received after business hours on Saturday, August 22, 2026, a non-working day. Consequently, the disclosure was made following an internal assessment of materiality as per its policy framework.

Operational Impact

Vikran Engineering stated that it does not foresee any material impact on its financial or operational activities due to this penalty. The company confirmed that the payment was made voluntarily on August 22, 2026, and that proceedings for filing an appeal with the appropriate authorities are currently underway.