GARWARE MARINE INDUSTRIES LIMITED

Meeting Details

The 48th AGM was held on Wednesday, September 23, 2026 through Video Conference. The venue was presumed at the Company's Registered Office at A/304, Naman Midtown, Senapati Bapat Marg, Prabhadevi (West), Mumbai - 400 013. The meeting was conducted according to Ministry of Corporate Affairs circulars dated September 19, 2024.

Attendance

Directors and Officers Present:

  • Mr. Aditya A. Garware - Chairman & Non-Executive Director (presided from Singapore)
  • Mrs. Shefali S. Bajaj - Non-Executive Director
  • Mr. Vikas D. Sadarangani - Independent Director, Chairman - Audit Committee & Stakeholders' Grievance Committee
  • Mr. Piyush V. Patel - Independent Director, Chairman - Nomination & Remuneration Committee
  • Mr. Amir J. Pradhan - Independent Director, Member - Audit Committee and Stakeholders' Grievance Committee
  • Mr. Hasan Ali Bhinderwala - Independent Director, Member - Audit Committee, Nomination & Remuneration Committee and Stakeholders' Grievance Committee
  • Mr. Shyamsunder V. Atre - Executive Director
  • Ms. Pallavi P. Shedge - Company Secretary
  • Mrs. Vipulata S. Tandel - Chief Financial Officer

Other Attendees:

  • Mr. Nikishesh Patani - Statutory Auditor (M/s. D. Kothary & Co., Chartered Accountants)
  • Mr. Rajkumar Tiwari - Secretarial Auditor (PCS)
  • Mr. Sandeep Patil - Internal Auditor
  • Mr. Taher Sapatwala - Scrutinizer (PCS)

Meeting Proceedings

The meeting had requisite quorum with 99 members present. The Chairman called the AGM in order at 11:30 AM. The Notice of 48th AGM was taken as read with unanimous consent. The Chairman's speech was recited. Members were informed about qualifications, observations, comments, disclaimer or adverse remarks in the Auditor's Report and Secretarial Audit Report, which were explained by the Chairman.

Resolutions Passed

Ordinary Business:

1. Ordinary Resolution: Approval of Audited Balance Sheet as at March 31, 2026, Statement of Profit and Loss, Cash Flow Statement for the year ended March 31, 2026, together with Directors' and Auditors' Reports

2. Ordinary Resolution: Appointment of Director in place of Mr. Aditya A. Garware (DIN: 00198146) who retires by rotation and offered himself for re-appointment

Note: Mr. Aditya A. Garware is brother of Mrs. Shefali S. Bajaj, promoter and Non-Executive Director. The Chairman recused himself for this item, and Mr. Piyush V. Patel, Independent Director chaired the meeting for this resolution.

Special Business:

3. Special Resolution: Appointment of Mr. Shyamsunder V. Atre (DIN: 01893024) as Executive Director for a period of two years with effect from October 31, 2026

4. Special Resolution: Appointment of Mr. Hasan Ali Bhinderwala (DIN: 06751723) as a Non-Executive Independent Director with effect from August 12, 2026 for a period of five years (first term)

Shareholder Engagement

Out of 19 registered speaker shareholders, 6 expressed appreciation to Board members, Company Secretary and employees. 2 shareholders raised queries which were answered by the Chairman.

Voting Process

The Company provided remote e-voting facility to members (record date September 16, 2026) from September 20, 2026 at 10:00 AM to September 22, 2026 at 5:00 PM. Members present at AGM who hadn't voted through remote e-voting were allowed to cast votes through CDSL e-portal after conclusion of AGM.

Mr. Taher Sapatwala, Practicing Company Secretaries, was appointed as Scrutinizer to conduct electronic and physical voting. The Scrutinizer will consolidate results of remote e-voting and e-voting during AGM and submit his Report.

Result Declaration

The results will be declared within permissible time under applicable laws. Results along with Scrutinizer's Report will be placed on company website www.garwaremarine.com and communicated to BSE Ltd.

Meeting Duration

The AGM commenced at 11:30 AM and concluded at 12:25 PM.