Meeting Details

This is a postal ballot process conducted through electronic voting only, without a physical meeting. The cut-off date for determining eligible shareholders was Wednesday, November 4, 2026. The dispatch of the Postal Ballot Notice was completed on Friday, November 6, 2026.

Proposed Resolutions and Implications

Resolution 1: Appointment of Mr. Harshvardhan Goenka as MD & CEO

  • Special resolution to appoint and re-designate Mr. Harshvardhan Goenka (DIN: 08239696) from Executive Director to Managing Director & Chief Executive Officer
  • Tenure: Five years from November 14, 2026 to November 13, 2031
  • Remuneration: Existing remuneration as approved at 36th and 37th AGMs, subject to minimum remuneration of ₹26.28 million per annum
  • Includes approval for payment beyond SEBI LODR Regulation 17(6)(e) limits as he is a promoter

Resolution 2: Appointment of Mr. Rajesh Naik as Executive Director (Operations)

  • Special resolution to appoint Mr. Rajesh Naik (DIN: 06935998) as Director and Whole-time Director designated as Executive Director (Operations)
  • Tenure: Five years from November 6, 2026 to November 5, 2031
  • Remuneration structure:
  • Fixed Pay: ₹20.00 million annually
  • Performance Linked Incentive: ₹5.00 million annually
  • Total CTC: ₹25.00 million annually
  • CTC revision to ₹28.75 million from April 1, 2027 (₹23.00 million fixed, ₹5.75 million PLI)
  • Special Retention Award: ₹5.0 million for FY27 and ₹7.5 million annually for next 5 years starting May 2028

Voting Process and Methods

The Company has engaged MUFG Intime India Private Limited to provide remote e-voting facilities. Voting is exclusively through electronic means with no physical ballot option.

Key Voting Timeline

  • E-voting commencement: Saturday, November 7, 2026 at 9:00 AM IST
  • E-voting conclusion: Sunday, December 6, 2026 at 5:00 PM IST
  • Result declaration: On or before Tuesday, December 8, 2026
  • Resolution deemed passed date: Sunday, December 6, 2026

Scrutinizer Appointment

Mr. Mahesh Soni, Practising Company Secretary & Partner of M/s GMJ & Associates (FCS No. 3706, COP. No. 2324), has been appointed as Scrutinizer to oversee the e-voting process fairly and transparently.

Compliance Statements

The Company confirms compliance with:

  • Sections 108 and 110 of the Companies Act, 2013
  • Rules 20 and 22 of the Companies (Management and Administration) Rules, 2014
  • MCA General Circular Nos. 14/2020, 17/2020, and 03/2025
  • SEBI Master Circular No. HO/49/14/14(7)2025CFDPOD2/I/3762/2026 dated January 30, 2026
  • Secretarial Standard on General Meetings (SS-2)
  • Regulation 44 of SEBI LODR Regulations, 2015

Document Availability

The Postal Ballot Notice is available on the Company's website (www.laxmi.com) and MUFG Intime's website (https://instavote.linkintime.co.in). Material documents are available for electronic inspection from November 7 to December 6, 2026 upon request.

Additional Information

The notice includes detailed voting instructions for shareholders holding securities in both demat and physical mode, with specific login methods for NSDL and CDSL account holders. Non-individual shareholders must submit board resolutions authorizing their representatives to vote.