52nd AGM: all 5 resolutions passed, MD re-appointed and new Independent Director approved

At the 52nd AGM held on September 30, 2026, all 5 resolutions were passed.

Wed 30 Sep 2026

AGM Date

September 30, 2026

Resolutions Passed

All 5 resolutions passed

MD Re-appointed

Mr. Rakesh Samrat Bhardwaj

New Independent Director

Mr. Mazhar Hassan approved as Non-Executive Independent Director

Votes Polled

31.7637% of outstanding shares; 99.0598% in favour on Item 1

What happened

The 52nd Annual General Meeting was held on Wednesday, September 30, 2026, at 11:30 A.M. at the registered office in Banawas, Khetri Nagar, Jhunjhunu, and concluded at 12:15 P.M. The Scrutinizer reported that all resolutions in Item Nos. 1 to 5 were passed with the requisite majority.

Management changes approved

• Mr. Rakesh Samrat Bhardwaj (DIN-00029757), Chairperson and Managing Director, re-appointed as a director retiring by rotation (Ordinary Resolution).
• Mr. Mazhar Hassan (DIN: 06739180) appointed as an Independent Director, Non-Executive (Special Resolution).

Auditor change

M/s Jain Paras Bilala & Co., Statutory Auditors who audited FY ended March 31, 2026, resigned with effect from August 14, 2026. Members appointed M/S YG & Associates (025444C), Chartered Accountants, as Statutory Auditors for a first term of 5 consecutive years, and to fix their remuneration.

Other business

Members approved altering the Object Clause of the Memorandum of Association by Special Resolution. An alteration of the object clause widens or changes the activities a company may legally undertake.

Point to note

The Auditors Report on the financial statements and the Secretarial Audit Report for the year ended March 31, 2026 contained qualifications or observations. These were read out at the meeting, and the Chairperson provided an explanation and the corrective action proposed. There were no queries from shareholders.

Voting picture (Item 1 – adoption of financial statements)

• Total shares: 16742459; total votes polled: 5318019, i.e. 31.7637% of outstanding shares.
• Votes in favour: 5268019 (99.0598%); against: 50000 (0.9402%).
• Promoter and Promoter Group held 5730443 shares and polled 5217133 votes, 100.0000% in favour.
• Public Non-Institutions held 10986816 shares; of 100886 votes polled, 50.4391% in favour and 49.5609% against.

Attendance

33 members were present in person — 15 from Promoter and Promoter Group and 18 from Public. Total shareholders on the record date of September 23, 2026 were 23532.

What it means for investors

The board composition is refreshed with a new Independent Director, and a new audit firm takes over for a five-year term. The split vote among public non-institutional shareholders and the audit qualifications are the items worth following in subsequent disclosures.

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