Mangalam Industrial Finance Ltd has made several key corporate governance decisions, including the approval of material related party transactions and the appointment of a new Secretarial Auditor, as announced by the company's Board of Directors.

Related Party Transactions Approved

The Board of Directors of Mangalam Industrial Finance Ltd has given its approval for material related party transactions for the fiscal year 2025-26. This decision, however, is subject to shareholder approval, highlighting the company's commitment to transparency and corporate governance best practices.

New Secretarial Auditor Appointed

In a significant move, the company has appointed Mr. Kamal A. Lalani as its Secretarial Auditor for a five-year term. The tenure is set to commence from April 1, 2025, and will continue until March 31, 2030. Mr. Lalani brings valuable expertise to the role, with over a decade of experience in corporate laws, Foreign Exchange Management Act (FEMA), and Securities and Exchange Board of India (SEBI) regulations.

Postal Ballot and E-Voting

The Board has also approved a postal ballot notice for shareholders. The e-voting process for this ballot is scheduled to take place from March 13 to April 11, 2025, providing shareholders with an opportunity to participate in the company's decision-making process.

Policy Review

In line with its commitment to maintaining up-to-date corporate practices, Mangalam Industrial Finance Ltd has conducted a review of various statutory policies. This review aims to ensure alignment with the latest amendments to listing regulations, demonstrating the company's proactive approach to regulatory compliance.

These developments reflect Mangalam Industrial Finance Ltd's focus on enhancing its corporate governance framework and ensuring compliance with regulatory requirements. The appointment of an experienced Secretarial Auditor and the review of statutory policies underscore the company's dedication to maintaining high standards of corporate governance and transparency.

Mangalam Industrial Finance Limited (MIFL) has successfully concluded a significant corporate action, with shareholders overwhelmingly approving an increase in the company's authorized share capital. The decision, reached through a postal ballot, also includes alterations to the company's Memorandum of Association.

Voting Results

The ordinary resolution put forth by MIFL received near-unanimous support from shareholders:

Participation and Voting Details

• Total Shares: 96.16 crore
• Votes Cast: 56.96 crore (59.23% of total shares)
• Record Date: June 13, 2025
• Total Shareholders: 1,58,337

Key Highlights

• The Promoter and Promoter Group, holding 56.68 crore shares, showed unanimous support for the resolution.
• Public Non-Institutional shareholders demonstrated strong backing with 86.84% voting in favor.
• The e-voting period concluded on July 18, 2025.
• The scrutinizer submitted their report on July 21, 2025, confirming the voting results.

Corporate Action Details

The postal ballot notice, dated June 16, 2025, sought shareholder approval for:

1. Increasing the authorized share capital of the company
2. Altering the Memorandum of Association to reflect this change

This corporate action suggests that Mangalam Industrial Finance Limited may be positioning itself for potential growth or capital restructuring initiatives. The strong shareholder support indicates confidence in the company's strategic direction.

Samoil Lokhandwala, Company Secretary and Compliance Officer of MIFL, confirmed that the voting results and scrutinizer's report are available on the company's website at www.miflindia.com .

The successful passage of this resolution marks a significant step for Mangalam Industrial Finance Limited, potentially paving the way for future capital-related activities.