Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Man Infraconstruction Limited
Meeting Details
The approval was sought through postal ballot without a physical meeting. The remote e-voting period commenced at 09:00 a.m. on Sunday, May 24, 2026 and ended at 05:00 p.m. on Monday, June 22, 2026. The results were declared on Tuesday, June 23, 2026.
Proposed Resolutions and Implications
Shareholders were asked to approve 12 ordinary resolutions for material related party transactions with various entities:
1. MICL Developers LLP (subsidiary) - Rs. 570 Crores for 1 year
2. Man Vastucon LLP (subsidiary) - Rs. 105 Crores for 1 year
3. MICL Creators LLP (subsidiary) - Rs. 170 Crores for 1 year
4. Man Aaradhya Infraconstruction LLP (subsidiary) - Rs. 1,145 Crores for 1 year
5. Man Chandak Realty LLP (JV) - Rs. 100 Crores for 1 year
6. Royal Netra Constructions Private Limited (Associate) - Rs. 270 Crores for 1 year
7. Arhan Homes LLP (Associate) - Rs. 270 Crores for 1 year
8. Atmosphere Homes LLP (Associate) - Rs. 220 Crores for 1 year
9. Trident Agro Terminals and Logistic Private Limited (Associate) - Rs. 265 Crores for 1 year
10. Shreepati Zaoba Housing LLP (related party of subsidiary) - Rs. 820 Crores for 1 year
11. Shreepati Skies (R R Chaturvedi) (related party of subsidiary) - Rs. 145 Crores for 1 year
12. Transaction between MICL Developers LLP and Royal Netra Constructions Private Limited - Rs. 100 Crores for 1 year
All transactions were proposed to be conducted on arm's length basis in the ordinary course of business.
Voting Process and Methods
The company utilized the electronic voting platform of National Securities Depository Limited (NSDL) for remote e-voting. The cut-off date for determining eligible shareholders was Friday, May 15, 2026. Shareholders who hadn't registered their email addresses were provided arrangements to register/update them with the company's Registrar and Transfer Agents.
Key Voting Outcomes
Overall Participation:
- Total shareholders on record date: 87,982
- Total remote e-voting confirmations received: 323
- Total shares voted: 5,37,39,247
- Invalid votes: 1 confirmation representing 62,32,000 shares
- Valid votes: 322 confirmations representing 4,75,07,247 shares
Resolution-wise Results:
| Resolution | Entity | Shares in Favor | Shares Against | % in Favor | % Against |
| 1 | MICL Developers LLP | 3,77,72,006 | 97,35,241 | 79.51 | 20.49 |
| 2 | Man Vastucon LLP | 4,74,83,560 | 23,687 | 99.95 | 0.05 |
| 3 | MICL Creators LLP | 3,77,71,911 | 97,35,336 | 79.51 | 20.49 |
| 4 | Man Aaradhya Infraconstruction LLP | 3,77,72,082 | 97,35,165 | 79.51 | 20.49 |
| 5 | Man Chandak Realty LLP | 3,77,71,986 | 97,35,261 | 79.51 | 20.49 |
| 6 | Royal Netra Constructions Private Limited | 3,77,71,986 | 97,35,261 | 79.51 | 20.49 |
| 7 | Arhan Homes LLP | 3,77,71,986 | 97,35,261 | 79.51 | 20.49 |
| 8 | Atmosphere Homes LLP | 3,77,72,179 | 97,35,065 | 79.51 | 20.49 |
| 9 | Trident Agro Terminals and Logistic Private Limited | 3,77,71,774 | 97,35,473 | 79.51 | 20.49 |
| 10 | Shreepati Zaoba Housing LLP | 3,77,71,782 | 97,35,165 | 79.51 | 20.49 |
| 11 | Shreepati Skies (R R Chaturvedi) | 3,77,72,179 | 97,35,068 | 79.51 | 20.49 |
| 12 | MICL Developers LLP with Royal Netra Constructions | 4,55,52,352 | 19,54,895 | 95.89 | 4.11 |
Category-wise Voting Breakdown (Representative for Resolution 1):
- Promoter and Promoter Group: 25,21,31,757 shares held, 0 votes polled (0.00% participation)
- Public Institutions: 1,73,70,048 shares held, 1,02,73,796 votes polled (59.15% participation)
- 5,62,242 in favor (5.47%), 97,11,554 against (94.53%)
- Public Non-Institutions: 13,41,64,700 shares held, 3,72,33,451 votes polled (27.75% participation)
- 3,72,09,764 in favor (99.94%), 23,687 against (0.06%)
- 62,32,000 invalid votes
Scrutinizer's Role and Findings
Mr. Himanshu S. Kamdar, Partner of M/s. Rathi & Associates, Company Secretaries, was appointed as Scrutinizer by the Board of Directors on May 13, 2026. The scrutinizer submitted his report on June 23, 2026, confirming that the voting process was conducted in a fair and transparent manner in accordance with Section 110 of the Companies Act, 2013 read with Rule 22 of the Companies (Management and Administration) Rules, 2014, SEBI LODR Regulations, 2015, and other applicable provisions.
Compliance Confirmation
The company confirmed compliance with applicable laws and regulations including the Companies Act, 2013, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Secretarial Standards on General Meetings (SS-2), and General Circular No.: 09/2024 dated September 19, 2024 issued by Ministry of Corporate Affairs.