Meeting Details

The 41st AGM was held on Thursday, September 10, 2026, at 1230 hours (IST) through Video Conferencing/Other Audio Visual Means (VC/OAVM), deemed to be held at the Registered Office of the Company at 9062/47, Ram Bagh Road, Azad Market, Delhi-110006.

Attendance

Directors and KMP Present Through Video Conferencing:

  • Mr. Sunil Kumar Jain - Chairman & Managing Director, Chairman of CSR Committee
  • Mr. Utkarsh Jain - Executive Director, Member of CSR Committee, Chairman of the AGM
  • Mr. Ashutosh Kumar Dubey - Independent Director, Chairman of Audit Committee, Stakeholders Relationship Committee, and Nomination & Remuneration Committee
  • Mr. Saurav Upadhyay - Independent Director, Member of Audit Committee, Stakeholder Relationship Committee, and Nomination & Remuneration Committee
  • Ms. Priya Singh - Independent Women Director, Member of Audit Committee, Stakeholder Relationship Committee, CSR Committee, and Nomination & Remuneration Committee
  • Mr. Pratyaksh Jain - Non-Executive Director
  • Mr. Chandan Singh - Chief Financial Officer
  • Mr. Rakesh - Company Secretary & Compliance Officer

Special Invitees Present Through Video Conferencing:

  • Mr. Ashish Kumar Friends - Representative of M/s AK. Friends & Co., Practicing Company Secretaries (Secretarial Auditor & Scrutinizer)
  • Mr. Dinesh Chand Kaushik - Partner, Nemani Garg Aggarwal & Co., Chartered Accountants (Statutory Auditors)

54 Members joined the Meeting through Video Conferencing. No proxies were present as the facility for appointment of proxies was not provided.

Auditor's Report and Management Response

The qualified opinion and observations made by the Statutory Auditors in their Audit Reports were presented:

  • The Company has not provided a provision for doubtful debts.
  • The debit and credit balances are subject to confirmation.

Management's responses to the qualifications were read out:

  • The Company has not provided a provision for doubtful debts since the debtors are considered fully realizable.
  • The Company is in the process of obtaining confirmations from the respective parties.

The Statutory Auditor's Report and the Secretarial Auditor's Report were taken as read as there were no other matters having any adverse effect on the functioning of the Company.

E-Voting Process

The company provided the facility of remote e-voting to Members through NSDL e-voting system. The remote e-voting was open from 9:00 AM on Monday, September 07, 2026, till 5:00 PM on Wednesday, September 09, 2026. Mr. Ashish Kumar Friends, Practicing Company Secretary, was appointed as the Scrutinizer for the e-voting process. The e-voting facility was kept open for 30 minutes during the AGM to enable Members to cast their vote.

Resolutions and Voting Results

The following resolutions were proposed and approved by shareholders with the requisite majority as per the Scrutinizer's Report dated September 11, 2026:

Item No. 1: Annual Audited Financial Statements and Reports for FY26

  • Resolution: Adoption of Audited Financial Statements for FY26 including Balance Sheet as of March 31, 2026, Statement of Profit & Loss, Cash Flow Statement, Reports of Board of Directors and Statutory Auditor.
  • Voting Result: 99.99% in favor, 0.01% against

Item No. 2: Appointment of Mr. Utkarsh Jain (DIN: 05271884) as Director

  • Resolution: Re-appointment of Mr. Utkarsh Jain as Director who retires by rotation under Section 152(6) of Companies Act, 2013.
  • Voting Result: [Specific percentages not provided in data for this resolution]

Item No. 3: Re-appointment of M/s Nemani Garg Agarwal & Co. as Statutory Auditors

  • Resolution: Re-appointment as Statutory Auditors for a term of five consecutive years from conclusion of 41st AGM until conclusion of 46th AGM.
  • Voting Result: 99.97% in favor, 0.03% against

Item No. 4: Re-appointment of Mr. Sunil Kumar Jain as Chairman and Managing Director

  • Resolution: Re-appointment as Chairman and Managing Director and KMP for a further term of five years from October 01, 2026, to September 30, 2031, with remuneration up to ₹85 lakhs per annum.
  • Voting Result: 99.95% in favor, 0.05% against

Item No. 5: Re-appointment of Mr. Utkarsh Jain as Whole Time Director

  • Resolution: Re-appointment as Whole Time Director and KMP for a further term of five years from October 01, 2026, to September 30, 2031, with remuneration up to ₹60 lakhs per annum.
  • Voting Result: [Specific percentages not provided in data for this resolution]

Item No. 6: Increase in Authorised Share Capital

  • Resolution: Increase Authorised Share Capital from ₹110 crores to ₹150 crores by creation of additional 4 crore equity shares of ₹10 each, and consequent alteration of Clause V of Memorandum of Association.
  • Voting Result: 99.98% in favor, 0.02% against

Item No. 7: Raising of Funds Through Convertible Loans

  • Resolution: Approval to convert in whole or in part, loans up to ₹50 crores from various lenders into Convertible Securities (Warrants, Preference Shares, Debentures, etc.) at option of Lenders.
  • Voting Result: [Specific percentages not provided in data for this resolution]

Item No. 8: Issue of Convertible Warrants to Mr. Sunil Kumar Jain

  • Resolution: Issue of 1,00,00,000 Convertible Warrants on preferential basis to Mr. Sunil Kumar Jain (Promoter) at issue price of ₹18.51 per Warrant (aggregating ₹18.51 crores), convertible into one Equity Share of ₹10 each per Warrant.
  • Consideration: 25% payable by adjustment against outstanding unsecured loan amounts; balance 75% payable within 18 months from allotment date.
  • Conversion right exercisable within 18 months from allotment date.
  • Voting Result: 99.97% in favor, 0.03% against

Conclusion

The 41st Annual General Meeting was concluded at 1302 hours on September 10, 2026. The results of the e-voting were declared on September 11, 2026, based on the Scrutinizer's Report, confirming all resolutions were duly approved.