Regulation 44 Disclosure: Mahamaya Steel Industries Limited AGM Voting Results

Meeting Details

  • Meeting Type: 38th Annual General Meeting (AGM)
  • Date and Time: Friday, 25th September 2026 at 12:00 noon
  • Location: Conducted entirely through Video Conferencing/Other Audio Visual Means (VC/OAVM) without physical attendance
  • Record Date (Cut-off date): Friday, 18th September 2026
  • Total Equity Shareholders on Record Date: 6,219

Proposed Resolutions and Outcomes

All 12 resolutions proposed in the notice dated 31st August 2026 were approved by shareholders with requisite majority. The resolutions were:

1. Ordinary Resolution: Adoption of audited standalone financial statements for FY ended 31st March 2026 and reports of Board of Directors and Auditors.

  • Total Votes Cast: 12,088,230
  • Votes in Favor: 12,081,236 (99.9421%)
  • Votes Against: 6,994 (0.0579%)

2. Ordinary Resolution: Adoption of audited consolidated financial statements for FY ended 31st March 2026 and report of Auditors thereon.

  • Total Votes Cast: 12,088,230
  • Votes in Favor: 12,081,236 (99.9421%)
  • Votes Against: 6,994 (0.0579%)

3. Ordinary Resolution: Re-appointment of Mr. Suresh Raman (DIN: 07562480) as a Non-Executive Non-Independent Director liable to retire by rotation.

  • Total Votes Cast: 12,088,230
  • Votes in Favor: 12,081,236 (99.9421%)
  • Votes Against: 6,994 (0.0579%)

4. Ordinary Resolution: Appointment of M/s. Chopra AJ & Associates, Chartered Accountants as the Statutory Auditors of the Company.

  • Total Votes Cast: 12,088,230
  • Votes in Favor: 12,081,236 (99.9421%)
  • Votes Against: 6,994 (0.0579%)

5. Special Resolution: Re-appointment of Ms. Vanitha Rangaiah (DIN: 09211334) as an Independent Director of the Company.

  • Total Votes Cast: 12,088,230
  • Votes in Favor: 12,081,236 (99.9421%)
  • Votes Against: 6,994 (0.0579%)

6. Ordinary Resolution: Ratification of remuneration payable to M/s. Sanat Joshi & Associates, Cost Auditors of the Company.

  • Total Votes Cast: 12,088,230
  • Votes in Favor: 12,081,236 (99.9421%)
  • Votes Against: 6,994 (0.0579%)

7. Special Resolution: To increase the overall borrowing limits u/s 180(1)(c) of the Companies Act, 2013.

  • Total Votes Cast: 12,088,230
  • Votes in Favor: 12,081,236 (99.9421%)
  • Votes Against: 6,994 (0.0579%)

8. Special Resolution: To seek approval u/s 180(1)(a) of the Companies Act, 2013 inter alia for creation of mortgage or charge on the assets/properties of the company.

  • Total Votes Cast: 12,088,230
  • Votes in Favor: 12,081,236 (99.9421%)
  • Votes Against: 6,994 (0.0579%)

9. Special Resolution: To increase the threshold of loans/guarantee, providing of securities and making of investments in securities u/s 186 of the Companies Act, 2013.

  • Total Votes Cast: 12,088,230
  • Votes in Favor: 12,081,236 (99.9421%)
  • Votes Against: 6,994 (0.0579%)

10. Special Resolution: To seek approval to advance any loan/give guarantee/provide security u/s 185 of the Companies Act, 2013.

  • Total Votes Cast: 12,088,230
  • Votes in Favor: 12,081,236 (99.9421%)
  • Votes Against: 6,994 (0.0579%)

11. Ordinary Resolution: Approval of material related party transactions for sale, purchase, and services. Promoter/Promoter Group was interested.

  • Total Votes Cast (Public only): 251,508
  • Votes in Favor: 244,514 (97.2192%)
  • Votes Against: 6,994 (2.7808%)

12. Ordinary Resolution: Approval of material related party transactions for availing financial assistance by way of unsecured loans for solar power project. Promoter/Promoter Group was interested.

  • Total Votes Cast (Public only): 251,508
  • Votes in Favor: 244,514 (97.2192%)
  • Votes Against: 6,994 (2.7808%)

Voting Process and Participation

  • Voting Methods Used: Remote e-voting prior to the AGM and e-voting during the AGM.
  • Remote E-Voting Period: Opened on Tuesday, 22nd September 2026 (9:00 AM) and closed on Thursday, 24th September 2026 (5:00 PM).
  • E-Voting Service Provider: National Securities Depository Limited (NSDL).
  • Total Shareholder Participation: 71 members participated in the voting process for most resolutions. For resolutions 11 and 12 (related party transactions where promoters were interested), 65 public shareholders participated.
  • Overall Voting Turnout: 12,088,230 votes were cast, representing 73.5544% of the total 16,434,400 outstanding shares.
  • Promoter & Promoter Group Voting: Held 11,964,987 shares. Voted 11,836,722 shares (98.928% of their holding) entirely in favor of all resolutions.
  • Public Shareholder Voting: Held 4,469,413 shares. A total of 251,508 votes were cast (5.6474% of their holding), predominantly in favor.

Scrutinizer's Report

  • Appointed Scrutinizer: Nitesh Jain, Practicing Company Secretary (M.No. FCS-8216, COP-9273).
  • Role: To scrutinize the entire e-voting process (remote and at AGM) as per Section 108 of the Companies Act, 2013 and Rule 20 of the Companies (Management and Administration) Rules, 2014.
  • Process: The e-voting system was locked by NSDL after the AGM. Votes were unblocked on 25th September 2026 in the presence of two independent witnesses (Mrs. Shubhika Jain and Ms. Naina Gandhi). The scrutinizer relied on reports generated by NSDL.
  • Findings: The scrutinizer confirmed the validity of the process and the results, detailing votes for and against each resolution in a consolidated report. All electronic records were handed over to the Company Secretary for preservation.

Compliance Confirmation

  • The meeting was conducted in compliance with the Companies Act, 2013, SEBI LODR Regulations, and relevant MCA circulars (including Gen Circular Nos. 20/2020, 14/2020, 17/2020, 22/2020, 33/2020, 39/2020, 10/2021, 19/2021, 21/2021, 02/2022, 10/2022, 09/2023, 09/2024) and SEBI circulars dated May 12, 2020, January 15, 2021, May 13, 2022, January 05, 2023, October 07, 2023, and October 03, 2024, regarding AGMs through VC/OAVM.