Visa Chrome Limited shareholders unanimously approved all 10 resolutions passed at its 30th Annual General Meeting (AGM) held on September 29, 2026. The voting results, disclosed on October 1, 2026, confirmed strong support for the reappointment of Vice-Chairman & Managing Director Vishal Agarwal and the adoption of FY26 financial statements.

The meeting was chaired by Vishal Agarwal, as Chairman Vishambhar Saran was unable to preside due to health concerns. A total of 89 shareholders attended via video conferencing, comprising 2 promoters and 87 public shareholders. The scrutinizer’s report indicated that 119,059,051 votes were polled out of 145,789,500 outstanding shares, representing an 81.67% participation rate.

Key resolutions passed

The members transacted both ordinary and special business items outlined in the notice dated August 12, 2026. All resolutions were passed with requisite majority, with minimal dissent recorded primarily from non-institutional public shareholders.

Governance and leadership updates

The AGM saw the ratification of the cost auditor's remuneration for the fiscal year ending March 31, 2027. Additionally, shareholders approved material related party transactions under an ordinary resolution. The board also revised the terms of remuneration for Vishal Agarwal alongside his reappointment.

Independent Directors Biswajit Chongdar and Ritu Bajaj were reappointed for a second consecutive term of three years each. These appointments were passed via special resolutions, reflecting the company's continuity in governance structure.

Voting and participation details

Two registered shareholders actively participated in the meeting, raising queries that were addressed by the Vice-Chairman & Managing Director. Remote e-voting facilities were provided through KFin Technologies Limited prior to the meeting, from September 26 to September 28, 2026.

Voting by poll was conducted during the AGM, with results submitted to stock exchanges on October 1, 2026. The meeting commenced at 12:00 pm and concluded at 12:40 pm. The Consolidated Scrutinizer’s Report, prepared by CS Debendra Raut of D Raut & Associates, confirmed that no invalid votes were recorded across any resolution category.

What the Numbers Show

The voting data reveals a high concentration of promoter influence, with the Promoter and Promoter Group holding 90,977,167 shares (62.4% of total outstanding shares). This block voted 100% in favor of all resolutions, ensuring their passage regardless of public shareholder sentiment. Dissenting votes were negligible, totaling only 572 to 592 shares against specific resolutions among non-institutional public holders, indicating broad alignment between management and minority shareholders on key governance matters.

Visa Chrome Limited appointed Anutosh Maitra as an Additional Director (Non-Executive and Independent) on September 29, 2026. The appointment is subject to shareholder approval and marks a strategic addition to the board's governance structure.

The Board of Directors approved the appointment via a circular resolution, acting on the recommendation of the Nomination and Remuneration Committee. This move aligns with the company's efforts to strengthen its leadership team with seasoned industry expertise.

Director profile and experience

Anutosh Maitra holds a B.Tech in Metallurgy from REC (now NIT), Rourkela. He possesses more than 44 years of experience in the steel sector, primarily serving Steel Authority of India Limited (SAIL) for 37 years. His tenure at SAIL included senior leadership roles such as Executive Director in the Chairman's Secretariat, New Delhi, and Chief Executive Officer of Bokaro Steel Plant.

Post his retirement from SAIL, Maitra associated with Primetals India and Metalist Consultants Pvt. Ltd. His professional background encompasses integrated steel plant operations, production enhancement, strategic planning, cost optimisation, CAPEX strategies, and risk management.

Appointment details

The appointment is effective for a term of three consecutive years, commencing from September 29, 2026, and ending on September 28, 2029. Maitra is not related to any other director of the company and is not debarred from holding the office of director by any regulatory authority.

Governance implications

The inclusion of a director with extensive operational experience in major steel plants signals a focus on leveraging deep technical knowledge for strategic oversight. The board composition now benefits from direct insights into production efficiency and capital expenditure management, areas critical for steel manufacturers.