Manaksia Limited shareholders have delivered a resounding endorsement of the proposed corporate restructuring, approving the Scheme of Arrangement with Manaksia Ferro Industries Limited with an overwhelming majority at a court-convened meeting held on January 10, 2026.

Meeting Overview and Participation

The meeting was conducted through video conferencing from 11:00 AM to 11:36 AM as per directions from the Hon'ble National Company Law Tribunal, Kolkata Bench. A total of 106 shareholders attended the meeting virtually, comprising 5 promoters and promoter group members and 101 public shareholders.

Voting Results and Overwhelming Support

The resolution received exceptional support across all shareholder categories. Out of 51,127,214 total votes polled, representing 78.02% of outstanding shares, 51,127,124 votes were cast in favour, while only 90 votes were against the proposal.

Scrutinizer Appointment and Process

Ms. Barsha Dikshit, a Practising Company Secretary with membership number 48152, was appointed as scrutinizer by the Hon'ble NCLT through its order dated November 17, 2025. The voting process included both remote e-voting and e-voting during the meeting.

Voting Methodology and Timeline

Shareholders had multiple options to cast their votes on the special resolution. Remote e-voting was available from January 7-9, 2026, while e-voting during the meeting was provided for those who had not participated in remote voting.

The voting breakdown showed:

• Remote E-voting: 163 members cast 51,126,715 votes in favour and 13 members cast 88 votes against
• E-voting during meeting: 2 members cast 409 votes in favour and 1 member cast 2 votes against
• Combined result: 99.9998% votes in favour with 0.0002% against

Resolution Details

The approved resolution pertains to the Scheme of Arrangement between Manaksia Limited (Demerged Company) and Manaksia Ferro Industries Limited (Resulting Company) and their respective shareholders and creditors. The scheme requires compliance with various regulatory provisions including the Companies Act, 2013, SEBI regulations, and other applicable laws.

The resolution also authorizes the Board of Directors to undertake all necessary actions to implement the arrangement, including making modifications as required by regulatory authorities without seeking further shareholder approval.

Manaksia Limited successfully conducted its equity shareholders meeting on January 10, 2026, through video conferencing to deliberate on a crucial Scheme of Arrangement. The meeting was held pursuant to directions from the Hon'ble National Company Law Tribunal (NCLT), Kolkata Bench, issued on November 17, 2025.

Meeting Structure and Participation

The virtual meeting commenced at 11:00 A.M. (IST) and was chaired by Mr. Kuldeep Mullick, Advocate, as directed by the NCLT. Company Secretary Mr. Debdip Chowdhury welcomed shareholders and introduced the directors and dignitaries present at the meeting.

Scheme of Arrangement Details

The primary agenda focused on approving the Scheme of Arrangement between Manaksia Limited and Manaksia Ferro Industries Limited, along with their respective shareholders and creditors. This resolution required a special majority as prescribed under Section 230(6) of the Companies Act, 2013.

Shareholders received comprehensive documentation including the Notice of Meeting, Explanatory Statement, and Scheme of Arrangement documents. The meeting included a detailed briefing on the salient features of the proposed scheme, with Managing Director Mr. Suresh Kumar Agrawal addressing shareholder queries and providing necessary clarifications.

Voting Process and Timeline

The company implemented a comprehensive voting mechanism to ensure maximum shareholder participation:

Shareholders who had not participated in remote e-voting were provided the opportunity to vote during the meeting under the supervision of the appointed Scrutinizer. The voting process was conducted in accordance with Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance and Disclosure

The meeting was conducted in full compliance with regulatory requirements under the Companies Act, 2013, and SEBI regulations. The company has committed to submitting voting results and the Scrutinizer's report to stock exchanges within the prescribed timeframe.

Results will be made available on multiple platforms including the company's website ( www.manaksa.com ), NSDL's e-voting portal ( www.evoting.nsdl.com ), and the company's registered office notice board. The voting results will be disclosed separately once the Scrutinizer's report is received, ensuring transparency in the decision-making process.

The meeting concluded successfully at 11:36 A.M. (IST) with a vote of thanks to the chair, marking an important step in the proposed corporate restructuring initiative between Manaksia Limited and Manaksia Ferro Industries Limited.