EGM Proceedings: Najafgarh Land Companies Acquisition and Share-Swap Preferential Issue Put to Vote

EGM held on September 24, 2026 via video conferencing, 1230 to 1314 hours IST.

Thu 24 Sep 2026

Meeting Date and Time

September 24, 2026, 1230 to 1314 hours IST

Land Acquisition Details

100% ownership in nine land-owning companies holding approximately 84.7 acres in Sector 3, Najafgarh, Delhi

Special Resolution 1

Approval of material related party transactions for proposed acquisition of securities in Land Owning Companies (Ordinary Resolution)

Special Resolution 2

Approval for preferential issue of equity shares for consideration other than cash, a share swap (Special Resolution)

Voting Results Timeline

To be announced within two working days

What was shared

Max Estates submitted a summary of the proceedings of its Extra-Ordinary General Meeting held on Thursday, September 24, 2026, through video conferencing, starting at 1230 hours IST and concluding at 1314 hours IST (including time allowed for e-voting during the meeting).

Who chaired

Mr. Analjit Singh, Chairman, chaired the meeting and introduced the Directors and Key Managerial Personnel present. The Chairperson of the Nomination and Remuneration Committee and a member of the Audit Committee and Stakeholders Relationship Committee were present, along with representatives of the Statutory Auditors and the Secretarial Auditor. The requisite quorum was present throughout.

The transaction discussed

The Chairman briefed shareholders on the proposed transaction involving the acquisition by the Company of 100% ownership, on a fully diluted basis, in nine land-owning companies, which collectively hold approximately 84.7 acres of land situated in Sector 3, Najafgarh, Delhi.

Items of Special Business transacted

• Item 1: Approval of Material Related Party Transactions in connection with the Proposed Acquisition of the Securities held in the Land Owning Companies — Ordinary Resolution.
• Item 2: Approval for Preferential Issue of Equity Shares for Consideration Other Than Cash (Share Swap) — Special Resolution.

How voting was done

Remote e-voting was open to members from Monday, September 21, 2026 at 0900 hours IST to Wednesday, September 23, 2026 at 1700 hours IST. Members who had not voted remotely and attended through video conferencing could vote during the meeting. Since the resolutions were already put to vote through remote e-voting, proposing and seconding was not applicable. Shareholders registered as speakers were given the opportunity to ask questions and their queries were responded to.

What happens next

The Chairman announced that the voting results will be declared within two working days of the conclusion of the EGM, displayed at the Registered and Corporate Offices, placed on the Company's website and NSDL's website, and communicated to BSE and NSE.

How to read this

This update records the conduct of the meeting and the items placed before shareholders. Investors typically watch for the separate voting results disclosure, which will show the level of shareholder support for the related party transaction approval and for the share-swap preferential issue. A preferential issue for consideration other than cash means new equity shares would be issued in exchange for the securities of the land-owning companies rather than for cash, which affects the share count.

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