Yashhtej Industries (India) Limited has received an interim order imposing a penalty of ₹75,000 on the company for procedural non-compliance. The order was issued by the Regional Director, Western Region-II, Ministry of Corporate Affairs, Mumbai, regarding violations under the Companies Act, 2013.

The disclosure was made to BSE Limited on October 5, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The order, dated September 29, 2026, addresses non-compliance with Section 139(8) of the Companies Act, 2013.

Penalty details and directors involved

In addition to the corporate fine, individual penalties were levied on three directors of the company. Each director was fined ₹15,000 for their role in the compliance lapse.

The individuals penalized are Suraj Shivraj Barge (Managing Director), Baswaraj M. Barge (Director), and Shivling M. Barge (Director). The order originated from an application filed by the company under Section 441 of the Companies Act, 2013.

Impact on operations

The company stated that it does not reasonably expect the said order to have any material financial impact on its operations. The violation is characterized as procedural in nature, relating specifically to the appointment or re-appointment of auditors as governed by Section 139(8).

Yashhtej Industries (India) Limited passed all six resolutions at its 8th Annual General Meeting held on September 29, 2026, with voting support ranging from 99.98% to 99.99% across key items.

The meeting, conducted via Video Conferencing, concluded at 3:22 pm with Managing Director Suraj Shivraj Barge serving as Chairperson. Members adopted the audited financial statements for the fiscal year ended March 31, 2026, and approved operational resolutions including director re-appointment and borrowing powers.

Voting outcomes on key resolutions

The scrutinizer’s report confirmed that all ordinary and special business items were approved by shareholders. The resolution to adopt audited financial statements received 15,123,600 votes in favor against 2,400 votes against, representing a 99.99% approval rate among valid votes cast. Similarly, the re-appointment of Suraj Shivraj Barge (DIN: 03161804), who retired by rotation, was approved with 15,122,400 votes in favor and 3,600 against, yielding a 99.98% approval rate.

Special resolutions and borrowing powers

Two special resolutions were also approved, granting the Board authority to create security interests on company assets and to borrow funds within the limits prescribed by the Companies Act, 2013. The resolution for creating security by way of charge, mortgage, or hypothecation under Section 180(1)(a) received 15,122,400 votes in favor. The power to borrow funds under Section 180(1)(c) was approved with 15,123,600 votes in favor.

The statutory auditors’ report contained no qualifications or adverse remarks affecting the company’s functioning. However, the secretarial audit noted one observation regarding the signing of the Annual Return (Form MGT-7). The company assured future compliance with Section 92(1) of the Companies Act, 2013, by employing a Company Secretary rather than relying on a practitioner for this specific task.

Participation and scrutiny details

Remote e-voting commenced on September 26, 2026, and concluded on September 28, 2026, facilitated by National Securities Depository Limited (NSDL). During the meeting, electronic voting remained open for 15 minutes after the conclusion of proceedings. H M Kadeval & Associates was appointed as the scrutinizer to ensure a fair and transparent voting process.

A total of 42 shareholders attended the meeting through video conferencing, comprising 10 from the promoter group and 32 from the public. No shareholders were present in person or through proxy. Directors present included Suraj Shivraj Barge, Baswaraj Madhavrao Barge, Shivling Madhavrao Barge, Truptee Brijesh Didvaniya, Inayat Khan Azmat Khan, and Shubham Govindprasad Jakhotiya.