AGM Details

The 34th AGM will be held on Monday, October 19, 2026, at 03:00 PM IST through Video Conferencing/Other Audio Visual Means. The deemed venue is the Registered Office at Master Chamber, 19, Feroze Gandhi Market, Ludhiana-141001, Punjab.

Cut-off Dates

  • Cut-off date for determining members entitled to receive notice: September 18, 2026
  • Cut-off date for determining members entitled for e-voting: October 12, 2026
  • Remote e-voting period: October 16, 2026 (09:00 AM) to October 18, 2026 (05:00 PM)

Ordinary Business Items

Item 1: To receive, consider and adopt the audited financial statements (standalone & consolidated) for FY ended March 31, 2026, and reports of Board of Directors and Auditors.

Item 2: To appoint a director in place of Mr. Rajinder Kumar Singhania (DIN: 00077540) who retires by rotation and offers himself for re-appointment.

Item 3: To appoint M/s. Akshay Singhla & Associates, Chartered Accountants (FRN: 039880N) as Statutory Auditors of the Company. The firm will be appointed to fill the casual vacancy caused by the resignation of M/s Bhushan Aggarwal & Co., effective from September 8, 2026, until the conclusion of this AGM, and subsequently for a term of five years until the conclusion of the 39th AGM in 2031.

Special Business Items

Item 4: To appoint Mr. Sanjiv Malik (DIN: 09498207) as Executive Director of the Company. He was appointed as Additional Director (Executive) on September 8, 2026, and holds office until this AGM.

Item 5: To appoint Mr. Sanjiv Malik (DIN: 09498207) as Managing Director for three years from September 8, 2026, to September 7, 2029. His remuneration will be ₹12 lakh per month plus applicable allowances and perquisites, with performance-linked incentives not exceeding 100% of fixed salary.

Item 6: To approve entering into contracts/agreements with Related Parties for Related Party Transactions (RPT) for FY 2026-2027. The related parties include Master Capital Services Limited, Master Infrastructure and Real Estate Developers Limited, Master Trust Limited, and other companies owned or significantly influenced by key management persons.

Item 7: To appoint Mr. Deepak Handa (DIN: 07984901) as Non-Executive Director for two years from September 20, 2026, to September 19, 2028. He was appointed as Additional Director (Non-Executive) on September 20, 2026.

Item 8: To increase the Authorized Share Capital from ₹35,00,00,000 (7,00,00,000 equity shares of ₹5 each) to ₹40,00,00,000 (8,00,00,000 equity shares of ₹5 each) and consequential amendment to Memorandum of Association.

Item 9: To alter the Main Object Clause of Memorandum of Association by inserting new sub-clauses 9, 10, and 11 to expand business activities into automobile manufacturing, ferrous/non-ferrous metals trading, and R&D for nuclear/defense components.

Item 10: To issue up to 27,30,000 equity shares to non-promoter category on preferential basis at ₹42 per share (face value ₹5 + premium ₹37) to raise ₹11,46,60,000.

Preferential Issue Details

  • Allottees: Mr. Uday Narang (24,92,500 shares), Mr. Kushal Muchhal (2,37,500 shares)
  • Issue Price: ₹42 per share (determined as per SEBI ICDR Regulations)
  • Relevant Date: September 18, 2026
  • Utilization of Proceeds: ₹9.00 crore for R&D and new product development, ₹2.466 crore for general corporate purposes
  • Lock-in: As prescribed under SEBI ICDR Regulations
  • Post-issue Shareholding: Mr. Uday Narang (11.32%), Mr. Kushal Muchhal (1.00%)
  • Timeframe: Allotment within 15 days of resolution approval

Director Details

Mr. Sanjiv Malik: B.Tech in Textile Technology with 30+ years experience in textile manufacturing and management. Proposed remuneration as MD: ₹12 lakh/month + allowances + incentives.

Mr. Deepak Handa: Graduate with 25+ years experience in automotive industry across operations and business development. Will receive sitting fees and reimbursement of expenses.

Mr. Rajinder Kumar Singhania: Chartered Accountant with 42+ years experience in finance, M&A, and taxation. Current Managing Director.

Voting Arrangements

The company is providing remote e-voting facility through CDSL. Members can vote electronically from October 16-18, 2026. Physical attendance at AGM venue is not required due to MCA circulars.