Meeting Details
- Date: Saturday, 19th September 2026
- Time: 11:30 a.m. IST
- Location: Conducted through Video Conferencing (VC) / Other Audio Visual Means (OAVM) without physical presence
- Type: 65th Annual General Meeting
- Deemed Venue: Registered Office of the Company at Bil, Near Bhaili Railway Station, Padra Road, Dist. Baroda-391 410, Gujarat, India
Proposed Resolutions and Implications
Ordinary Business:
1. To receive, consider and adopt Audited Standalone and Consolidated Financial Statements for FY ended 31st March, 2026, including Balance Sheet, Statement of Profit and Loss, Cash Flow Statement, and Reports of Board of Directors and Auditors.
2. To appoint a director in place of Mr. Sharan M. Patel (DIN: 09151194) who retires by rotation and offers himself for re-appointment.
3. To declare final dividend of ₹8/- (400%) per equity share of ₹2/- each for FY ended March 31, 2026.
Special Business:
4. Regularisation of appointment of Mr. Hiteshbhai Manubhai Patel (DIN: 11866196) as Director of the Company, liable to retire by rotation (Special Resolution).
5. Appointment of Mr. Hiteshbhai Manubhai Patel as Whole-time Director (Key Managerial Personnel) for 3 years w.e.f. 8th August 2026 with remuneration up to ₹50 lakhs annually (Special Resolution).
6. Payment of commission of 1.5% of net profits to Mr. Shivam M. Patel (DIN: 09501828), Non-Executive, Non-Independent Director for FY 2025-26 (Special Resolution).
7. Ratification of remuneration of ₹55,000/- plus taxes to M/s. S S Puranik & Associates, Cost Accountants, for cost audit for FY 2026-27 (Ordinary Resolution).
Voting Process and Methods
- Remote e-voting period: Wednesday, 16th September 2026 (9:00 a.m. IST) to Friday, 18th September 2026 (5:00 p.m. IST)
- Cut-off date: Saturday, 12th September 2026 for determining entitlement to vote and dividend
- Voting methods: Remote e-voting prior to meeting and e-voting during AGM through InstaMeet facility
- Service provider: MUFG Intime India Private Limited (formerly Link Intime India Private Limited)
- Platform: InstaVote for remote e-voting and InstaMeet for AGM participation
- Physical attendance: Dispensed with; no proxy facility available
Scrutinizer Appointment
Mr. J. J. Gandhi of M/s. J J Gandhi & Co., Practicing Company Secretaries, Vadodara has been appointed as Scrutinizer to scrutinize the remote e-voting process and voting during the AGM.
Compliance with Laws and Regulations
The notice confirms compliance with:
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Regulation 30, 44)
- Companies Act, 2013 (Sections 108, 148, 152, 160, 161, 196, 197, 198)
- Companies (Management and Administration) Rules, 2014
- SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November 2024
- MCA General Circulars regarding VC/OAVM meetings
- Secretarial Standards on General Meetings (SS-2)
Additional Information
- Record date for dividend entitlement: 12th September 2026
- Shareholder communication: Email to registered addresses, physical letters to non-registered shareholders
- Documents available on company website (www.bancoindia.com), stock exchange websites, and MIIPL website
- Helpdesk: INSTAMEET helpdesk at instameet@in.mpms.mufg.com or 022-4918 6000/6175
- Investor grievances: investor@bancoindia.com
- R&T Agent: MUFG Intime India Private Limited at Vadodara
Explanatory Statement Details
The explanatory statement provides:
- Rationale for Mr. Hiteshbhai Patel's appointment: Electrical Engineer with 25+ years experience, currently Deputy General Manager (Maintenance)
- Remuneration details: ₹23.31 lakhs basic salary plus benefits with upper limit of ₹50 lakhs
- Commission payment justification for Mr. Shivam Patel: Strategic guidance contributing to company growth
- Cost auditor qualifications: S S Puranik & Associates with 5 partners, led by CMA Sharad S. Puranik (FCMA)
Director Profiles
- Mr. Sharan M. Patel (DIN: 09151194): 31 years, Graduate Engineering Manager, 6+ years experience, currently Whole-time Director
- Mr. Hiteshbhai Manubhai Patel (DIN: 11866196): 51 years, Electrical Engineer, 25+ years experience, appointed Additional Director from 8th August 2026