Meeting Details
The 29th Annual General Meeting was held on Wednesday, June 24, 2026, through Video Conferencing (VC) / Other Audio-Visual Means (OAVM). The meeting commenced at 11:00 AM IST and concluded at 11:28 AM IST. The meeting was conducted in compliance with circulars issued by the Ministry of Corporate Affairs and SEBI under the applicable provisions of the Companies Act, 2013.
Resolutions Proposed and Implications
The following 14 resolutions were proposed and voted upon during the meeting:
Ordinary Business:
- Resolution 1: To consider and adopt the audited financial statement of the Company for the financial year ended March 31, 2026 (Ordinary Resolution)
- Resolution 2: To declare dividend on equity shares for the Financial Year 2025-26 (Ordinary Resolution)
- Resolution 3: To appoint a director in place of Praveen Ostwal (DIN: 00412207), who retires by rotation and being eligible, offers himself for re-appointment (Ordinary Resolution)
Special Business:
- Resolution 4: To approve the Ratification of Remuneration of M/s K.C. Moondra & Associates, Cost Accountant of the Company for the financial year ending 31st March 2027 (Ordinary Resolution)
- Resolution 5: To approve an increase in Borrowing Powers of the Company under Section 180(1)(c) upto revised limit of Rs. 2500 Crores (Rupees Two Thousand Five Hundred Crores only) (Special Resolution)
- Resolution 6: To Approve an Increase in limits for selling, leasing or otherwise disposing of the whole or substantially whole of the undertaking and/or Creating Charge/Security over the Assets/Undertaking of the Company under Section 180(1)(c) upto revised limit of Rs. 2500 Crores (Rupees Two Thousand Five Hundred Crores only) (Special Resolution)
- Resolution 7: To approve Loans to Directors/Interested Parties upto revised limit of Rs. 300.00 Crore (Rupees Three Hundred Crore Only) (Special Resolution)
- Resolution 8: To approve Continuation of Directorship of Mr. Paras Mal Surana as a Non-Executive Independent Director of the Company upon attaining the age of 75 years (Special Resolution)
- Resolution 9: To approve Sub-division/split of existing 1 (One) Equity Share of face value of Rs. 10/- (Rupees Ten Only) each fully paid up into 5 (Five) Equity Shares of face value of Rs. 2/- (Rupees Two Only) each fully paid up (Ordinary Resolution)
- Resolution 11: To approve material related party transactions between the Company and Ostwal Phoschem (India) Limited (Ordinary Resolution)
- Resolution 12: To approve material related party transactions between the Company and Krishana Phoschem Limited (Ordinary Resolution)
- Resolution 13: To approve material Related Party Transactions between the Company and Shri Ganpati Fertilizers Limited (Ordinary Resolution)
- Resolution 14: To approve raising of funds through issuance of securities or any other instruments or securities representing either equity shares and/or convertible securities linked to equity shares by way of private placement or preferential issue or public issue or rights issue or Qualified Institutions Placement or such other permissible mode or combinations thereof and Supersession of Earlier Approval (Special Resolution)
Voting Process
The Company provided the facility of "E-Voting" on all resolutions during the AGM only for shareholders who joined the meeting through Video Conference/Other Audio-Visual Means and had not cast their vote through "Remote e-voting." The e-voting facility remained available for 15 minutes after the closure of the meeting.
Key Meeting Proceedings
Ms. Pallavi Sukhwal, Company Secretary, welcomed members and introduced the Directors. All Directors of the Company were present. Mr. Mahendra Kumar Ostwal, Chairman of the Board, chaired the meeting. The proceedings were webcast and could be viewed live by members on the website of the National Securities Depository Limited (NSDL).
The Notice of the Meeting, Annual Report, and Auditor's Report for FY ended March 31, 2026 were taken as read. There were no qualifications, observations, or adverse remarks in the Report of the Statutory Auditors. No queries were received through the Question & Answer box from members during the AGM.
Compliance and Reporting
The Company will submit a consolidated report on total votes cast in favour and against the resolutions within two working days. The results will be notified to the Stock Exchange and published on the Company's website (www.mbapl.com) and NSDL's website (www.evoting.nsdl.com).