Corrigendum Details

The company identified inadvertent typographical errors in the original AGM notice contained in the Annual Report for FY 2025-26:

  • On Page 16: In the heading of the first table, the last column "proposed commission" and in the second table headings "Salaries and Perquisites, Proposed Commission upto and Total" incorrectly showed measurement as "Rs. in Lakhs" which should be corrected to "Rs. in Crores".
  • On Page 17: In the table, the last column "Proposed Commission upto" incorrectly showed measurement as "Rs. in Lakhs" which should be corrected to "Rs. in Crores".

The company confirmed there is no change in the Annual Report other than the mentioned corrections. The revised Annual Report was submitted to the exchanges and is available on the company's website at www.jppowerventures.com.

AGM Details

The 31st Annual General Meeting will be held on Thursday, 30th July, 2026 at 11:30 A.M. (IST) through Video Conference/Other Audio-Visual Means. The Register of Members and Share Transfer Books will remain closed from 24th July, 2026 to 30th July, 2026 (both days inclusive).

Business Items for Shareholder Approval

Ordinary Business

1. To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements for FY ended 31st March, 2026, together with Auditors' Report and Board of Directors' Report.

Special Business

2. Ratification of Remuneration of Cost Auditors for FY 2026-27: Approval for remuneration of ₹2,00,000/- (exclusive of applicable Tax/GST and out-of-pocket expenses) payable to M/s. Sanjay Gupta & Associates, Cost Accountants (Firm Registration Number 000212) appointed by the Board on 4th May 2026.

3. Appointment of Shri Savan Jayendra Patel (DIN: 02687808) as Executive Director (Whole-time Director): Appointment for 3 years from 22nd May, 2026 to 21st May, 2029. He is a qualified Chartered Accountant and currently serves as Chief Commercial Officer of Adani Power Limited with nearly three decades of experience. He will not receive any remuneration, commission, sitting fees, perquisites or reimbursement of expenses during his tenure.

4. Appointment of Shri Jayadeb Nanda (DIN: 06578925) as Non-Executive, Non-Independent Director: An accomplished power sector professional with over 34 years of experience, former Advisor – Operations & Maintenance and former Chief Operating Officer at Adani Power Limited. He will not receive any commission, sitting fees or reimbursement of expenses.

5. Appointment of Shri Naresh Telgu (DIN: 01994368) as Non-Executive, Non-Independent Director: Professional with over three decades of experience in energy sector, currently associated with Adani Group leading pumped storage and hydro power projects. He will not receive any remuneration, commission, sitting fees, perquisites or reimbursement of expenses.

6. Appointment of Smt. Shruti Anup Shah (DIN: 08337714) as Independent Director: Chartered Accountant with over 15 years of experience in taxation and advisory services, Partner at Pravin P. Shah & Company. Appointment for 3 years from 1st July, 2026 to 30th June, 2029 (Special Resolution required).

7. Appointment of Shri Jayant Misra (DIN: 11277894) as Independent Director: IRS (retired) with distinguished career in public service including former Chairman of Settlement Commission, Customs, Excise and Service Tax. Appointment for 3 years from 1st July, 2026 to 30th June, 2029 (Special Resolution required).

8. Appointment of Shri Mukesh M. Shah (DIN: 00084402) as Independent Director: Chartered Accountant with over 30 years of experience, Founder and Managing Partner of Mukesh M. Shah & Co. Appointment for 3 years from 1st November, 2026 to 31st October, 2029. Special approval required as he will attain age 75 during his tenure (Special Resolution required).

9. Payment of Remuneration by way of Commission to Former Executive Directors for FY 2025-26:

  • Shri Sunil Kumar Sharma (Former Vice Chairman): ₹2.00 crore commission + ₹2.80 crore salary & perquisites = ₹4.80 crore total
  • Shri Suren Jain (Former MD & CEO): ₹3.00 crore commission + ₹4.02 crore salary & perquisites = ₹7.02 crore total
  • Shri Praveen Kumar Singh (Former Whole-time Director): ₹1.50 crore commission + ₹2.60 crore salary & perquisites = ₹4.01 crore total
  • Total commission: ₹6.50 crore, Total remuneration: ₹15.92 crore

10. Payment of Remuneration by way of Commission to Non-Executive Directors including Former Non-Executive Directors for FY 2025-26: Within 1% of net profits limit, including former directors Smt. Binata Sengupta, Dr. Vandana R. Singh, Shri Sudhir Mital, Dr. Dinesh Kumar Likhi, and Prof. Suresh Chandra Saxena.

11. Payment of Commission to Shri Manoj Gaur (Former Chairman) exceeding 50% limit: Special resolution for payment of up to ₹4.00 crore commission to Shri Manoj Gaur, which exceeds 50% of total commission payable to all Non-Executive Directors.

Voting Information

Remote e-voting period: 27th July, 2026 (9:00 A.M.) to 29th July, 2026 (5:00 P.M.) through CDSL. Cut-off date for voting eligibility: 23rd July, 2026. Scrutinizer: Shri Amit Agarwal, Practising Company Secretary (FCS 5311). Alternate Scrutinizer: Shri Vishal Lochan Aggarwal, Practising Company Secretary (FCS 7241).

Financial Impact

The commission payments to directors are subject to the limits prescribed under Section 197 of Companies Act, 2013: total managerial remuneration not to exceed 11% of net profits, with executive directors collectively not exceeding 10% and non-executive directors not exceeding 1% of net profits computed under Section 198.