Milestone Furniture Limited has successfully concluded its Annual General Meeting held on December 27, 2025, with the declaration of voting results showing unanimous approval for all proposed resolutions. The meeting was conducted through Video Conferencing and Other Audio-visual Means, reflecting the company's adaptation to modern corporate governance practices.

Meeting Overview and Participation

The AGM was held on Saturday, December 27, 2025, from 12:30 PM to 12:40 PM, with a total of 650 shareholders on the record date of December 20, 2025. The meeting witnessed participation from 8 shareholders through video conferencing, while 14 members participated in the voting process through the e-voting system.

Voting Results and Resolution Approval

All nine resolutions presented during the AGM received overwhelming support from shareholders. The voting was conducted exclusively through public non-institutional shareholders, with consistent results across all resolutions.

Key Resolutions Passed

The approved resolutions encompassed critical corporate governance and operational matters:

Ordinary Resolutions:

• Adoption of Financial Statements
• Appointment of Director retiring by rotation
• Regularization of M/S. R DAGA & Company as statutory auditors (FRN: 328421E)
• Appointment of Brajesh Gupta & Co. as secretarial auditor for 5 years
• Regularization of Mrs. Payal Vatsal Thakkar (DIN: 10799911) as Non-Executive, Non-Independent Director
• Noting resignation of Mrs. Muskan Rana (DIN: 10216001), Independent Director

Special Resolutions:

• Approval of Related Party Transactions under Section 188 of the Companies Act, 2013
• Increasing Borrowing Powers under Section 180(1)(c) not exceeding Rs. 50 crore
• Approval to increase permissible investment limits for Non-Resident Investors (NRIs) and Foreign Portfolio Investors (FPIs)

Scrutinizer Report and Process

Brajesh Gupta, Practicing Company Secretary from Indore (Membership No. 33070), served as the appointed Scrutinizer for the e-voting process. The e-voting period remained open from December 24, 2025 (09:00 AM) to December 26, 2025 (5:00 PM). The company engaged National Securities Depository Limited (NSDL) for providing e-voting facilities and conducting the electronic voting process.

Corporate Governance Enhancement

The approved resolutions demonstrate the company's commitment to strengthening its corporate governance framework. The enhancement of borrowing powers up to Rs. 50 crore and the approval for increased investment limits for foreign investors indicate the company's strategic focus on growth and capital expansion. The regularization of key appointments, including the secretarial auditor for a five-year term, ensures continuity in compliance and governance oversight.

Milestone Furniture Limited's Board of Directors held a comprehensive meeting on 28th January, 2026, at the company's registered office in Mumbai, approving multiple strategic initiatives focused on capital expansion and business growth. The board session, which ran from 4:30 P.M. to 6:00 P.M., addressed key proposals for fund raising, acquisition opportunities, and capital structure optimization.

Fund Raising Initiative

The board granted in-principle approval for raising funds through the issuance of securities via multiple permissible modes. The proposed fund raising mechanisms include preferential issue of equity shares and/or warrants, private placement, or other regulatory-compliant methods.

The board emphasized that specific details including the number of securities, issue price, aggregate amount to be raised, and the exact mode of issuance will be finalized in a subsequent meeting, subject to shareholder approval and requisite regulatory clearances.

Valuer Appointment and Pricing Strategy

To ensure appropriate pricing and advisory support for the securities issuance, the board approved the appointment of a registered valuer. This professional will be responsible for determining the issue price and providing guidance on the optimal mode of issuance, ensuring compliance with applicable laws and regulations.

Acquisition Proposal Evaluation

The board considered a strategic acquisition opportunity involving equity shares of U M T Infra Projects Private Limited from its existing shareholders. Rather than rushing into the transaction, the board adopted a prudent approach by deciding to undertake comprehensive evaluation processes.

The evaluation process will include obtaining valuation reports, conducting thorough due diligence, and reviewing other relevant documentation before finalizing the acquisition price and payment structure. Mr. Mayank Rasiklal Kotadia, Whole-Time Director, has been authorized to oversee all necessary actions and appoint required valuers, professionals, consultants, or advisors for this proposed acquisition.

Capital Structure Enhancement

To support the proposed securities issuance, the board discussed increasing the company's authorised share capital, subject to obtaining applicable approvals. This measure would provide the necessary flexibility to accommodate the fund raising initiative without constraints.

Trading Window Closure

In compliance with the company's Code of Conduct for Prevention of Insider Trading, the trading window for dealing in Milestone Furniture Limited's equity shares will remain closed and will reopen after 48 hours from the disclosure of this meeting's outcome. This measure ensures regulatory compliance and prevents any potential insider trading activities during the sensitive period following these strategic announcements.