Meeting Details

The 36th Annual General Meeting was held on Monday, 28th September, 2026 at 11:00 A.M. (Indian Standard Time) through Video Conferencing/Other Audio-Visual Means. The meeting concluded at 11:41 A.M. after being open for 15 minutes for e-voting to be completed.

Attendance

Directors & KMP Present:

  • Shri Hariram Garg - Managing Director
  • Shri Madanlal Garg - Non-Executive Director
  • Shri Rajesh Garg - Non-Executive Non-Independent Director
  • Smt Rama Garg - Non-Executive Women Director
  • Shri Sushil Kumar Nevatia - Non-Executive Independent Director, Chairperson of Nomination & Remuneration Committee
  • Shri Akhil Kumar Manglik - Non-Executive Independent Director, Chairperson of Audit Committee and Stakeholders' Relationship Committee
  • Shri Rajnish Kumar Kansal - Non-Executive Independent Director
  • Shri Manoj Kumar Ganguly - Chief Financial Officer

Other Invitees Present:

  • Shri Priyarup Mukherjee - Conductor of the Meeting on behalf of Shri Chandan Gupta, Company Secretary cum Compliance Officer
  • Shri Mahadev Agarwal (partner of Agarwal Kejriwal & Co.) - Statutory Auditor
  • Ms. Puja Pujari (proprietor of M/s Puja Pujari & Associates) - Secretarial Auditor & Scrutinizer of the AGM
  • Shri Dharam Chand Dharewa (Proprietor of D. C. Dharewa & Co) - Internal Auditor

Members Present: Total of 27 members were present and requisite quorum was present throughout the meeting.

Proceedings Summary

Shri Hariram Garg was unanimously elected as Chairman of the meeting. Due to health conditions, Shri Hariram Garg requested Shri Rajesh Garg to speak on his behalf, who briefed the business of the Company, financial performance, scenarios, future business plan, growth outlook, and business opportunities.

The notice of the 36th Annual General Meeting and Directors' Report were taken as read. There were no audit qualifications made by the Statutory or Secretarial Auditors.

Ms. Puja Pujari was appointed as Scrutinizer to scrutinize votes cast at the Meeting and through remote e-voting process.

Resolutions Passed

All eight resolutions were passed via e-voting with the following results:

Item No. 1: Adoption of Financial Statements

Resolution Type: Ordinary Resolution

Votes Cast: 1,45,73,048

Votes in Favor: 1,45,73,048 (100.00%)

Votes Against: 0.00 (0.00%)

To receive, consider and adopt the Audited Balance Sheet as at 31st March, 2026, the Statement of Profit & Loss for the year ended on that date and the Report of the Directors and Auditors' thereon.

Item No. 2: Re-appointment of Shri Madanlal Garg

Resolution Type: Ordinary Resolution

Votes Cast: 1,45,73,048

Votes in Favor: 1,45,73,048 (100.00%)

Votes Against: 0.00 (0.00%)

To appoint a director in place of Shri Madanlal Garg (DIN: 00670278) who retires by rotation and being eligible offers himself for re-appointment.

Item No. 3: Re-appointment of Shri Rajesh Garg

Resolution Type: Ordinary Resolution

Votes Cast: 1,45,73,048

Votes in Favor: 1,45,69,048 (99.97%)

Votes Against: 4,000 (0.02%)

To appoint a director in place of Shri Rajesh Garg (DIN: 00471803) who retires by rotation and being eligible offers himself for re-appointment.

Item No. 4: Re-appointment of Smt. Rama Garg

Resolution Type: Ordinary Resolution

Votes Cast: 1,45,73,048

Votes in Favor: 1,45,73,048 (100.00%)

Votes Against: 0.00 (0.00%)

To appoint a director in place of Smt. Rama Garg (DIN: 00471845) who retires by rotation and being eligible offers herself for re-appointment.

Item No. 5: Re-appointment of Statutory Auditor

Resolution Type: Ordinary Resolution

Votes Cast: 1,45,73,048

Votes in Favor: 1,45,73,048 (100.00%)

Votes Against: 0.00 (0.00%)

To re-appoint M/S Agarwal Kejriwal & Co (FRN: 316112E) as Statutory Auditor for a further term of five years commencing from conclusion of 36th AGM until conclusion of 41st AGM (to be held in 2031).

Item No. 6: Voluntary Stepping Down of Hariram Garg

Resolution Type: Special Resolution

Votes Cast: 1,45,73,048

Votes in Favor: 1,45,69,048 (99.97%)

Votes Against: 4,000 (0.02%)

Approved voluntary stepping down of Shri Hariram Garg (DIN: 00216053) from Chairman & Managing Director to Chairman with effect from 28th September, 2026. He will continue as Chairman & Non-Executive Director.

Approved fresh terms of remuneration payable to Shri Hariram Garg with effect from 1st October, 2026 for five years ending 30th September, 2031: Rs. 3,00,000/- per month along with one month bonus and one month as Leave Salary, totaling Rs. 42,00,000/- per annum (subject to applicable taxes).

Item No. 7: Redesignation of Rajesh Garg as Managing Director

Resolution Type: Special Resolution

Votes Cast: 1,45,73,048

Votes in Favor: 1,45,69,048 (99.97%)

Votes Against: 4,000 (0.02%)

Appointed Shri Rajesh Garg (DIN: 00471803) as Managing Director for five years commencing from 28th September, 2026 to 27th September, 2031. He shall not be entitled to any remuneration, salary, commission, perquisites, or allowances except sitting fees for Board Meetings attended and reimbursement of reasonable expenses.

Item No. 8: Re-appointment of Akhil Kumar Manglik

Resolution Type: Special Resolution

Votes Cast: 1,45,73,048

Votes in Favor: 1,45,69,048 (99.97%)

Votes Against: 4,000 (0.02%)

Re-appointed Shri Akhil Kumar Manglik (DIN: 01344949) as Non-Executive Independent Director for a second term of five consecutive years commencing from 4th February, 2027 and ending on 3rd February, 2032.

Financial Impact

The remuneration for Shri Hariram Garg as Chairman & Executive Director is set at Rs. 42,00,000/- per annum. Shri Rajesh Garg will not receive any remuneration as Managing Director except sitting fees and expense reimbursements.