Meeting Details

The EGM was held on Wednesday, October 7, 2026, through Video Conference. The venue was presumed to be the Company's Registered Office at A/304, Naman Midtown, Senapati Bapat Marg, Prabhadevi (West), Mumbai — 400 013. The meeting was conducted according to MCA circulars dated September 19, 2024.

Attendance

Chairman: Mr. Aditya A. Garware (Chairman & Non-Executive Director) presided from Singapore

Directors and Officers Present:

  • 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. Rajkumar Tiwari - Secretarial Auditor (PCS)
  • Mr. Taher Sapatwala - Scrutinizer (PCS)

Meeting Proceedings

The meeting had requisite quorum with 111 members present. The Notice of EGM was taken as read with unanimous consent.

Resolutions Passed

Two special resolutions were considered, proposed, and seconded:

1. Item No. 1: Approved transactions under Section 185 of the Companies Act, 2013, increasing the limit from ₹40 Crores to ₹50 Crores

2. Item No. 2: Approved Material Related Party transaction(s) with Garware Offshore Services Limited (GOSL) in reference to the supersession of the Limit of ₹40 Crores to ₹50 Crores under Section 185 of the Companies Act, 2013, including charging of "Guarantee Commission" on "Corporate Guarantee" to GOSL

Special Note on Voting

For Items 1 and 2, Mr. Aditya A. Garware (being interested due to common directorship/promoter status) requested Mr. Piyush V. Patel, Independent Director, to chair the meeting. Mr. Garware resumed proceedings after these resolutions were passed.

Shareholder Interaction

Out of 10 registered shareholder speakers, 5 expressed appreciation to Board members, Company Secretary, and employees. One shareholder raised a query which was answered by the Chairman.

Voting Arrangements

Remote e-voting facility was provided to members from Sunday, September 4, 2026 at 10:00 a.m. to Tuesday, September 6, 2026 at 5:00 p.m. (record date: September 30, 2026). Members present at EGM who hadn't voted remotely were allowed to vote through CDSL e-portal after the meeting.

Scrutinizer Appointment

Mr. Taher Sapatwala, Practicing Company Secretaries, was appointed as Scrutinizer to conduct electronic and physical voting in a fair and transparent manner.

Result Declaration

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

Meeting Timing

The EGM commenced at 11:30 a.m. and concluded at 12:04 p.m.

Financial Impact

The disclosure indicates increased financial exposure through loans/guarantees up to ₹50 crores and related party transactions involving guarantee commissions, but specific financial impact amounts are not quantified.