Key Event Details

  • AGM Date: Saturday, 8th August 2026 at 12:30 PM (IST)
  • AGM Venue: E-15, Ansal Villas, Satbari, New Delhi-110030
  • Record Date: Saturday, 1st August 2026 (cut-off date for voting rights)
  • Remote e-Voting Period: Wednesday, 5th August 2026 (9:00 AM) to Friday, 7th August 2026 (5:00 PM)
  • e-Voting Agency: National Securities Depository Limited (NSDL)
  • Scrutinizer: Mr. Brij Kishore Sharma, proprietor of B K Sharma & Associates

Resolutions for Shareholder Approval

Ordinary Business

1. Adoption of Audited Financial Statements: To receive, consider and adopt Audited Financial Statements (Standalone and Consolidated) for year ended 31st March 2026 with reports of Board of Directors and Auditors.

2. Director Reappointment: To appoint a director in place of Mr. Sameer Rajendra Purohit (DIN:05002079) who retires by rotation under Section 152(6) of Companies Act, 2013.

Special Business

3. Related Party Transaction Approval: Ordinary resolution to approve sale and transfer of company's entire shareholding in Mefcom Securities Limited to Mr. Vijay Mehta (Promoter & Managing Director).

  • Existing Holding: 60% of Mefcom Securities Limited
  • Transaction Type: Related party transaction under Section 2(76) of Companies Act, 2013
  • Regulatory Approvals: BSE approval dated 23.03.2026 and NSE approval dated 23.04.2026 obtained
  • Consideration: To be determined based on independent valuation as on 30th June 2026
  • Advance Received: Mr. Vijay Mehta advanced ₹250 lakhs to company for this transaction
  • Effect: Mefcom Securities will cease to be subsidiary post-transaction

4. Sale of Subsidiary Shareholding: Ordinary resolution to approve sale of entire shareholding in Mefcom Securities Limited.

  • Rationale: Strategic restructuring and business realignment
  • MSL Status: SEBI-registered stock broker, member of NSE and BSE
  • Post-transaction: MSL will continue as independent company and separate legal entity

5. Director Continuation Beyond Age 75: Special resolution to approve continuation of Dr. Shri Ram Khanna (DIN:07723472) as Non-Executive Independent Director upon attaining age 75 on 22nd July 2026.

  • Current Term: 31st January 2025 to 30th January 2030
  • Qualifications: Master's in Commerce, Bachelor's in Law
  • Experience: Corporate management, finance, governance and business administration
  • Board Attendance: 4 meetings in FY 2025-26
  • Shareholding: Nil in company
  • Other Directorships: Nil

6. Excess Managerial Remuneration Ratification: Special resolution to approve and ratify excess managerial remuneration paid to Executive Directors for FY 2025-26 beyond limits under Section 197 read with Schedule V.

  • Mr. Vijay Mehta (MD): ₹24 lakhs per annum (previous: ₹24 lakhs)
  • Mr. Sameer Rajendra Prohit (ED): ₹58 lakhs per annum (previous: ₹35.75 lakhs)
  • Reason: Inadequacy/absence of profits during FY 2025-26
  • Waiver: Resolution seeks waiver of recovery of excess remuneration from directors

7. Future Excess Managerial Remuneration: Special resolution to approve managerial remuneration for Executive Directors for FY 2026-27 that may exceed limits under Section 197 read with Schedule V.

  • Mr. Vijay Mehta (MD): Proposed ₹84 lakhs per annum plus perquisites
  • Mr. Sameer Rajendra Prohit (ED): Proposed ₹60 lakhs per annum
  • Basis: Potential inadequacy of profits in FY 2026-27

Financial Impact

  • Subsidiary sale consideration to be determined by independent valuation as on 30th June 2026
  • Managerial remuneration for FY25-26 totaled ₹82 lakhs for both executive directors
  • Proposed managerial remuneration for FY26-27 totals ₹144 lakhs for both executive directors
  • Financial impact of subsidiary sale not quantified in disclosure

Voting Arrangements

  • Remote e-voting through NSDL from 5th to 7th August 2026
  • Physical voting at AGM on 8th August 2026
  • Share register closed from 5th to 8th August 2026
  • Proxy forms must be deposited 48 hours before meeting

Additional Information

  • Annual Report for FY 2025-26 available on company website https://www.mefcom.in/
  • Company Registered Office: Flat No.18, 5th Floor, 77, Sanchi Building, Nehru Place, New Delhi-110019
  • Company CIN: L74899DL1985PLC019749
  • RTA: Beetal Financial & Computer Services Private Limited