Meeting Details

  • Date: September 25, 2026
  • Time: Commenced at 04:00 P.M. and concluded at 5:05 P.M.
  • Location: Conducted through Video Conferencing (VC)
  • Type: 39th Annual General Meeting
  • Chairman: Mr. Naveen Mohta was unanimously elected as Chairman since Mr. Sanjeev Agrawal could not attend due to unavoidable reasons

Directors and Key Personnel Present

  • Mr. Naveen Mohta, Whole Time Director
  • Mrs. Ruby Srivastava, Independent Director
  • Mr. Amarjit Chopra, Independent Director
  • Dr. Rajesh Kumar Yaduvanshi, Independent Director
  • Mr. Rajeev Goel, Director
  • Mr. S.N. Mohanty, President (Corporate Affairs, Legal & Company Secretary)
  • Mr. Ashok Kumar Verma, Chief Financial Officer

Absent Director

Mr. Raghav Chandra, Independent Director, could not attend due to unavoidable reasons.

Quorum and Procedural Matters

  • Quorum requirements under Section 103 of the Companies Act, 2013 were satisfied
  • Requirement of appointing proxies was not applicable except for authorized representatives of corporate shareholders
  • The Notice of the Meeting was taken as read with consent of Members
  • Standalone and Consolidated Statutory Auditors' Report and Secretarial Audit Report for FY 2025-26 had no qualifications/adverse remarks/disclaimer/reservation

Summary of Proposed Resolutions and Voting

Ordinary Business

Resolution 1a: Approval of Audited Standalone Financial Statements for FY ended March 31, 2026

Resolution 1b: Approval of Audited Consolidated Financial Statements for FY ended March 31, 2026

Resolution 2: Declaration of final dividend at the rate of 20% (Rs. 2 per equity share of Rs. 10 each) for FY ended March 31, 2026

Resolution 3: Re-appointment of Mr. Sanjeev Agrawal (DIN: 00282059) as Director retiring by rotation

Special Business

Resolution 4: Ordinary Resolution to enhance monetary cap for transactions with HAL Offshore Limited for charter hire of vessels, diving and allied activities until AGM in 2030

Resolution 5: Special Resolution for re-appointment of Mr. Naveen Mohta (DIN: 07027180) as Whole Time Director for 5 years from September 1, 2026 to August 31, 2031

Resolution 6: Special Resolution for appointment of Dr. Rajesh Kumar Yaduvanshi (DIN: 07206654) as Non-Executive Independent Director for first term of 5 years from August 13, 2026 to August 12, 2031

Resolution 7: Special Resolution for payment of remuneration to Non-Executive Independent Directors up to 0.5% of net profits effective from FY 2026-27 for 5 years

Voting Process and Methods

  • Facility provided for remote e-voting through NSDL system before the meeting
  • E-voting facility also made available during the AGM for Members who hadn't cast votes earlier
  • Time allotted for e-voting during meeting: 15 minutes from closure of meeting
  • Mr. Satyajit Mishra, Practicing Company Secretary, appointed as Scrutinizer
  • Combined results of remote e-voting and e-voting during AGM to be announced within two working days
  • Results and Scrutinizer's Report to be intimated to Stock Exchanges and placed on company website and NSDL

Shareholder Queries and Responses

Members sought clarifications on:

  • Vessels deployment status and operations
  • Performance expectations for current financial year
  • Future plans and outlook
  • Dry docking of Vessels
  • Performance of subsidiary and future plans
  • Financial position
  • Impact of war on company operations
  • Brokerage and commission paid
  • Legal case of Dr. Rajesh Kumar Yaduvanshi
  • AI and capex plans

Responses were provided by Mr. S.N. Mohanty to the satisfaction of Members.

Director Appointments Confirmation

Dr. Rajesh Kumar Yaduvanshi: Confirmed not debarred from holding office of Director by any SEBI Order or Authority. Education: B.Sc, M.Sc, Ph.D, CAIIB. Career banker with 35+ years experience. Independent Director in 5 companies including KEI Industries and Majestic Auto.

Mr. Naveen Mohta: Confirmed not debarred from holding office of Director by any SEBI Order or Authority. Qualified Chartered Accountant and Cost and Works Accountant with 26 years experience, including 25 years with HAL Offshore Limited.

Compliance Statement

The Company adhered to circulars issued by Ministry of Corporate Affairs (MCA) and Securities and Exchange Board of India (SEBI) while conducting the Meeting.

Scrutinizer

Mr. Satyajit Mishra, Secretarial Auditor and Scrutinizer for AGM, was present through VC.