Proposal: To subdivide each existing equity share of the company from a face value of ₹10/- each into 10 equity shares of ₹1/- each (10:1 split).
Purpose: To enhance liquidity and make shares more affordable and accessible to a wider investor base.
Impact: No change in the aggregate amount of authorized, issued, subscribed, and paid-up share capital. No change in the percentage shareholding of any shareholder. The subdivided shares will rank pari passu with existing shares.
Record Date: To be fixed by the Board of Directors after obtaining all necessary approvals, including from stock exchanges.
Capital Structure Change: Requires consequential alteration of Clause V of the Memorandum of Association to reflect the revised number of shares. The authorized share capital will be stated as ₹83,00,00,000 divided into 69,00,00,000 equity shares of ₹1/- each and 1,40,00,000 preference shares of ₹10/- each.
Approval Required: Ordinary Resolution.
Item No. 2: Approval for Payment of Professional Consultancy Fees to Mr. Deepak Kukreti (Related Party)
Related Party: Mr. Deepak Kukreti (Spouse of Mrs. Soumya Kukreti, Director).
Nature of Transaction: Payment of professional consultancy fees for services related to renewable energy, wind energy, hydrogen energy, battery energy storage systems (BESS), clean energy technologies, business strategy, project evaluation, and business development.
Monetary Value: Not exceeding ₹12,50,000/- (Rupees Twelve Lakhs Fifty Thousand) per month, plus applicable Goods and Services Tax (GST).
Maximum Annual Value: ₹150.00 lakh (based on 12 months).
Rationale: Mr. Kukreti possesses significant expertise in the renewable energy sector. The expansion of the company's operations into these areas (following the amalgamation of Midwest Energy Private Limited) necessitates specialized consultancy.
Financial Impact Quantified: The proposed transaction represents approximately 21.78% of the company's annual consolidated turnover (based on audited consolidated turnover of ₹688.87 lakh for FY ended March 31, 2026).
Approvals Obtained: Recommended by the Audit Committee and approved by the Board of Directors.
Approval Required: Special Resolution.
Item No. 3: Appointment of Mrs. Kollareddy Ranganayakamma as Non-Executive Director
DIN: 00033569
Current Status: Appointed as an Additional Director (Non-Executive) by the Board with effect from July 28, 2026, pursuant to Section 161(1) of the Companies Act, 2013.
Proposal: Appointment as a Non-Executive Director, liable to retire by rotation.
Age: 67 Years
Nationality: Indian
Shareholding: 2,25,000 Equity Shares
Relationship: Mother of Mrs. Soumya Kukreti (Director).
Expertise: Corporate governance, regulatory compliance, and strategic oversight.
Directorships: Holds directorships in Midwest Neostone Private Limited, Midwest Altira Private Limited, South Coast Infrastructure Development Company of Andhra Pradesh Limited, and Midwest Green Marine Private Limited.
Remuneration: Entitled to sitting fees for Board/Committee meetings and reimbursement of expenses as approved by the Board.
Approval Required: Ordinary Resolution.
Item No. 4: Appointment of Mr. Dinabandhu Mohapatra as Independent Director
DIN: 07488705
Current Status: Appointed as an Additional Director (Independent) by the Board with effect from July 28, 2026.
Proposal: Appointment as a Non-Executive Independent Director for a term of 5 (five) consecutive years, until July 27, 2031. Not liable to retire by rotation.
Qualifications: Former MD & CEO of Bank of India. Seasoned banker with over three decades of experience in Treasury Operations, International Banking, Corporate Lending, and other areas.
Shareholding: Nil
Relationship: None with other Directors, KMPs, or Senior Management.
Directorships: Holds directorships in Regaal Resources Limited, Sammaan Finserve Limited, Sammaan Capital Limited, and Nipha Limited. Holds committee positions in some of these companies.
Remuneration: Entitled to sitting fees for Board/Committee meetings and reimbursement of expenses as approved by the Board.
Approval Required: Special Resolution.
Postal Ballot & E-Voting Process Details
Cut-off Date for Eligibility: Friday, July 31, 2026.
E-Voting Service Provider: Bigshare Services Private Limited.
E-Voting Period Commencement: Monday, August 10, 2026, at 9:00 A.M. (IST).
E-Voting Period Conclusion: Tuesday, September 08, 2026, at 5:00 P.M. (IST).
Result Declaration: The result will be announced within two working days of the conclusion of e-voting.
Deemed Passing Date: Resolutions, if approved, will be deemed passed on Tuesday, September 08, 2026.
Communication: The notice is being sent electronically to members whose email addresses are registered. The notice is also available on the company's website (www.midwestgoldltd.com) and the BSE website (www.bseindia.com).
