IMFA Shareholders Approve Director Appointment and Commission

Item No. 1 - Appointment of Dr Deepak Kumar Mohanty as Independent Director (Special Resolution)

Dr Deepak Kumar Mohanty (DIN: 09771960) appointed as Non-Executive Independent Director
Appointment effective from 30th June 2026 for a period of 5 consecutive years
Not liable to retire by rotation
Submitted declaration meeting independence criteria under Section 149(6) of Companies Act, 2013 and Regulation 16(1)(b) of SEBI LODR Regulations
Received notice in writing under Section 160(1) of the Act

Item No. 2 - Enhancement of Commission to Independent Directors (Ordinary Resolution)

Supersedes earlier resolution passed at 62nd Annual General Meeting held on 31st July 2024
Commission enhanced to not exceeding 0.5% per annum of net profits calculated under Section 198 of Companies Act, 2013
Maximum commission capped at ₹1,50,00,000 (Rupees One Crore Fifty Lakh) per annum
Effective from financial year 2026-27 onwards
Commission to be paid out of profits of the respective financial year(s)
No Independent Director shall receive aggregate remuneration exceeding ₹25,00,000 (Rupees Twenty-Five Lakh) each per financial year, excluding sitting fees

Postal ballot notice dated 4th August 2026 dispatched to members on 11th August 2026
Advertisement published in newspapers on 12th August 2026
Remote e-voting period: 12th August 2026 (9:00 AM IST) to 10th September 2026 (5:00 PM IST)
NSDL appointed to facilitate remote e-voting
CA Sourjya Prakash Mahapatra appointed as scrutinizer for the postal ballot process
Resolutions declared passed on 10th September 2026 based on scrutinizer's report dated 10th September 2026