Nature of the Event

Regulatory disclosure pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, summarizing the proceedings of the Adjourned 15th Annual General Meeting (AGM).

Key Details

The Adjourned 15th Annual General Meeting of DESCO Infratech Limited was held on Wednesday, 7th October 2026 at 02:00 P.M. through Video Conferencing (VC)/Other Audio Visual Means (OAVM) facility. The meeting was convened in compliance with guidelines from the Ministry of Corporate Affairs and provisions of the Companies Act, 2013.

The original 15th Annual General Meeting was convened on 30th September 2026 but was adjourned due to want of requisite quorum. The adjourned meeting on 7th October 2026 achieved the requisite quorum.

Attendance and Proceedings

Mr. Pankaj Pruthu Desai, Chairman of the Company, chaired the meeting. All Directors of the Company were present through VC from their respective locations.

The meeting was called to order by CS Tripti Gaggar, Company Secretary and Compliance Officer, with the Chairman's permission.

Representatives from the Statutory Auditors, M/s. K A Sanghvi and Co LLP, and Secretarial Auditors, M. D. Baid & Associates, Practicing Company Secretaries for FY 2025-26, were present. Mr. Mohan Baid, Partner from M. D. Baid & Associates, served as the Scrutinizer for the remote e-voting process.

Agenda Items and Resolutions

The following 12 agenda items were proposed for transaction at the meeting:

Ordinary Business:

  • 1. Adoption of Audited Financial Statements for the period ended 31st March, 2026 (Ordinary Resolution)
  • 2. Reappointment of Mr. Pankaj Pruthu Desai (DIN: 03344685) as a Managing Director, liable to retire by rotation (Ordinary Resolution)

Special Business:

  • 3. Regularization of Mr. Shailesh Kalidas Naik (DIN: 06546482) as an Independent Director (Special Resolution)
  • 4. Increase in Borrowing Powers of the Board under Section 180(1)(c) of the Companies Act, 2013 (Special Resolution)
  • 5. Approval of Powers of Board under Section 180(1)(a) of the Companies Act, 2013 (Special Resolution)
  • 6. Authorization under Section 185 of the Companies Act, 2013 (Special Resolution)
  • 7. Authorization under Section 186 of the Companies Act, 2013 (Special Resolution)
  • 8. Approval of Related Party Transactions with Desco Bio Green Private Limited (Ordinary Resolution)
  • 9. Approval of Related Party Transactions with Shri Green Agro Energies Private Limited (Ordinary Resolution)
  • 10. Approval for Payment of Commission to Mr. Pankaj Pruthu Desai (DIN: 03344685), Managing Director of the Company (Special Resolution)
  • 11. Approval of revision in Remuneration of Mr. Malhar Pankaj Desai, Whole-Time Director (DIN: 07293599) of the Company (Special Resolution)
  • 12. Approval of revision in Remuneration of Mr. Samarth Pankaj Desai, Director (DIN: 08019677) of the Company (Special Resolution)

Financial Statements and Auditor Reports

The Auditor's Reports on the Standalone and Consolidated Financial Statements for the financial year ended 31st March 2026 were taken as read. The reports contained observations relating to:

  • Limitations in the audit trail
  • Differences identified in the reconciliation of stock statements
  • Delays in the payment of certain statutory dues

Voting Process

The Company engaged National Depository System Limited (NSDL) to provide remote e-voting facility for members for 3 days from Sunday, 4th October 2026 (09:00 A.M.) to Tuesday, 6th October 2026 (05:00 P.M.). E-voting was also made available after the AGM for members who had not cast their vote through remote e-voting.

Mr. Mohan Baid was appointed as Scrutinizer to scrutinize the e-voting process. Voting results will be declared within stipulated time under applicable laws and submitted to stock exchanges. Results will be available on the Company's website and NSDL's website.

Meeting Conclusion

The AGM concluded at 02:27 PM (IST).