Modern Shares and Stockbrokers Limited AGM Outcome Disclosure

Meeting Details

The Eighty-Seventh Annual General Meeting of Modern Shares and Stockbrokers Limited was held on Tuesday, September 08, 2026 at 11:30 a.m. IST through Video Conference (VC) / Other Audio Visual Means (OAVM). The meeting was conducted in compliance with circulars issued by the Ministry of Corporate Affairs and Securities and Exchange Board of India.

Attendance

Directors and KMP Present (all via VC):

  • Mr. Pankaj Rajnikant Ved - Chairperson & Non-executive Director (Independent) (Mumbai, India)
  • Mr. Anil Sugno Manghnani - Whole Time Director (Mumbai, India)
  • Mr. Narendra Hira Advani - Non-executive Director (California, US)
  • Mr. Ghansham Shewakramani - Non-executive Director (Mumbai, India)
  • Mrs. Roshan Advani Patheria - Non-executive Director (Dublin, Ireland)
  • Mr. Ramesh Ramchand Narang - Non-executive Director (Independent) (Mumbai, India)
  • Mr. Radhakrishna Narayan Shenvi - CFO (Mumbai, India)
  • Mrs. Vibha Axit Gandhi - Company Secretary & Compliance Officer (Mumbai, India)

Other Invitees (all via VC):

  • Statutory Auditors (formerly known as B D Associates) (Mumbai, India)
  • CS Mr. Janak Pandya - Practicing Company Secretary - Secretarial Auditor (Mumbai, India)
  • CS Mr. Anil Jani - Practicing Company Secretary - Scrutinizer (Mumbai, India)

Quorum: A total of 38 members attended the meeting through VC.

Meeting Proceedings

The meeting commenced at 11:30 a.m. IST and was chaired by Mr. Pankaj Rajnikant Ved. The Chairman welcomed members and introduced the Directors and KMPs. The Company Secretary provided general instructions regarding participation and informed members that statutory documents were available electronically for inspection.

The Chairman delivered a speech highlighting business performance, financials, and outlook. The Notice of AGM, Statutory Auditor's Report, Secretarial Audit Report and Board's Report were taken as read.

Resolutions Considered

The following resolutions were read out and considered:

Ordinary Business:

1. To receive, consider and adopt the Audited Financial Statements and Cash Flow Statement of the Company for the financial year ended March 31, 2026 together with the report of the Board of Directors and the Auditors thereon (Ordinary Resolution)

2. To appoint a director in place of Mr. Narendra Hira Advani (DIN: 03351909), who retires by rotation and being eligible offers himself for reappointment (Ordinary Resolution)

Special Business:

3. To Continue Mr. Pankaj Rajnikant Ved (DIN: 00207079) as Chairman & Non-Executive Independent Director of the Company, notwithstanding that on 02nd June, 2027 he attains the age of 75 years (Special Resolution)

Voting Process

The Chairman clarified that all resolutions had been put to vote through remote e-voting prior to the meeting. Members were provided facility to ask questions through VC, and responses were provided. An insta-poll was opened for fifteen minutes for members who had not cast their vote through remote e-voting.

CS Mr. Anil Jani, Proprietor of Anil Jani & Company, Practicing Company Secretaries (Membership No. 2506, COP: 9154) was appointed as Scrutinizer to supervise the e-voting process.

Meeting Conclusion

The meeting concluded at 12:20 p.m. IST (including time allowed for e-voting at AGM). Voting results from remote e-voting and e-voting at the AGM, along with the Scrutinizer's Report, will be disseminated to BSE Limited and placed on the Company's website.