Meeting Details

  • Date of Meeting: September 24, 2026
  • Day of Meeting: Thursday
  • Time of Meeting: 1230 Hours (IST)
  • Type of Meeting: Extra-Ordinary General Meeting (EGM)
  • Mode of Meeting: Conducted through Video Conferencing (VC) / Other Audio-Visual Means (OAVM)

Summary of Proposed Resolutions

Two resolutions were proposed for shareholder approval:

1. Resolution No. 1 (Ordinary Resolution): Approval of material related party transactions in connection with the proposed acquisition of the securities held in the land owning Companies.

2. Resolution No. 2 (Special Resolution): Approval for preferential issue of equity shares for consideration other than cash (share swap).

The document confirms that both resolutions were passed with the requisite majority.

Voting Process

  • The remote e-voting period commenced on Monday, September 21, 2026, at 0900 Hours (IST) and ended on Wednesday, September 23, 2026, at 1700 Hours (IST) via the e-voting platform on the website of National Securities Depository Limited (NSDL) at www.evoting.nsdl.com.
  • Members as of the cut-off date, Thursday, September 17, 2026, were entitled to vote.
  • E-voting was also made available during the EGM for members attending via VC/OAVM who had not voted remotely.
  • The scrutinizer for the process was Mr. Kapil Dev Taneja, Partner of M/s Sanjay Grover & Associates, Company Secretaries, appointed by the Board of Directors on August 28, 2026.
  • After the voting concluded, the votes were unblocked in the presence of two witnesses, Mr. Harshit Saxena and Mr. Vipin Dhameja, who were not employees of the company.

Key Voting Outcomes

Resolution No. 1 (Ordinary Resolution)

  • Total Valid Votes Cast: 258,13,763 shares
  • Votes in Favour: 258,13,710 shares (99.9998%)
  • Votes Against: 53 shares (0.0002%)

Breakdown by Voting Method:

  • E-voting during EGM: 7 voters cast 96,853 shares, all in favour.
  • Remote E-voting: 211 voters cast 2,57,16,910 shares. 207 voters cast 2,57,16,857 shares in favour, and 4 voters cast 53 shares against.

Breakdown by Shareholder Category (Resolution 1):

  • Total Shares Outstanding: 16,35,79,866
  • Total Votes Polled: 25,813,763 shares (15.7805% of outstanding shares)
  • Promoters & Promoter Group: Held 7,39,95,231 shares. Did not cast any votes.
  • Public Institutions: Held 5,71,25,438 shares. Cast 2,21,77,708 votes (38.8228% of their holding), all in favour.
  • Public Non-Institutions: Held 3,24,59,197 shares. Cast 36,36,055 votes (11.2019% of their holding). 3,636,002 votes in favour (99.9985%), 53 votes against (0.0015%).

Resolution No. 2 (Special Resolution)

  • Total Valid Votes Cast: 8,86,34,248 shares
  • Votes in Favour: 8,85,88,830 shares (99.9488%)
  • Votes Against: 45,418 shares (0.0512%)

Breakdown by Voting Method:

  • E-voting during EGM: 7 voters cast 96,853 shares, all in favour.
  • Remote E-voting: 227 voters cast 8,85,37,395 shares. 220 voters cast 8,84,91,977 shares in favour, and 10 voters cast 45,418 shares against. (3 members voted partially in favour and partially against and are counted in both assent and dissent).

Breakdown by Shareholder Category (Resolution 2):

  • Total Shares Outstanding: 16,35,79,866
  • Total Votes Polled: 8,86,34,248 shares (54.1841% of outstanding shares)
  • Promoters & Promoter Group: Held 7,39,95,231 shares. Cast 6,27,50,102 votes (84.8029% of their holding), all in favour.
  • Public Institutions: Held 5,71,25,438 shares. Cast 2,21,77,708 votes (38.8228% of their holding). 2,21,32,451 votes in favour (99.7959%), 45,257 votes against (0.2041%).
  • Public Non-Institutions: Held 3,24,59,197 shares. Cast 37,06,438 votes (11.4188% of their holding). 3,706,277 votes in favour (99.9957%), 161 votes against (0.0043%).

Scrutinizer's Role and Findings

Mr. Kapil Dev Taneja (FCS No. 4019, CP No. 22944) was appointed as the scrutinizer. His responsibility was to scrutinize the voting process and prepare a consolidated report of the votes cast. He confirmed that the data from the NSDL e-voting system was reconciled with the records of the RTA, MAS Services Limited. He concluded that the voting process was conducted in a fair and transparent manner and that all resolutions were passed. The scrutinizer's register is under his safe custody and will be handed over to the Company Secretary after the Chairman signs the meeting minutes.

Compliance Confirmation

The voting process and the meeting were conducted in compliance with:

  • Section 108 of the Companies Act, 2013
  • Rule 20 of the Companies (Management and Administration) Rules, 2014
  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • MCA General Circular No. 20/2020 dated May 5, 2020, read with General Circular No. 03/2025 dated September 22, 2025
  • Secretarial Standard-2 on General Meetings issued by ICSI

Additional Information

  • Company CIN: L70200DL2016PLC438718
  • Total Paid-up Equity Share Capital (as of cut-off date): INR 1,63,57,98,660 divided into 16,35,79,866 equity shares of INR 10 each.
  • Total Shareholders on cut-off date: 29,160
  • Shareholders attending meeting via VC: 86 (14 Promoters & Promoter Group, 72 Public)
  • Promoters and Promoter Group were interested in both resolutions.
  • The documents were uploaded to the company's website (www.maxestates.in) and sent to NSDL.