Meeting Details

  • Mode: Video Conferencing (VC)
  • Deemed Venue: Registered office at 3rd Floor, 2A, Mahindra Tower, District Centre, Bhikaji Cama Place, New Delhi - 110066
  • Date & Time: Monday, August 17, 2026 at 11:00 A.M. (IST)
  • Record Date: August 10, 2026
  • Total Shareholders: 10,262
  • Attendance: 117 members representing 82,07,170 equity shares

Attendees

Directors Present:

  • Mr. Aayush Munjal (Corporate Social Responsibility Committee, Joint Managing Director)
  • Dr. Rajesh Kumar Yaduvanshi (Independent Director)
  • Mr. Anil Kumar Sharma (Independent Director & Chairman of Audit Committee, Nomination & Remuneration Committee, Vigil Mechanism Committee and Stakeholders Relationship Committee)
  • Dr. Tripurari Pandey (Independent Director)
  • Ms. Ayushi Jain (Non-Executive Director)
  • Mr. Mahesh Munjal (Chairman and Managing Director) - chaired the meeting

Other Attendees:

  • Statutory Auditors: Mr. Kapil Vohra, Representative from M/s Hari & Associates
  • Secretarial Auditors: Ms. Neeta Aggarwal, Proprietor of M/s Neeta A & Associates
  • Company Secretary: Mr. Nishant Sharma (Company Secretary & Compliance Officer)

Voting and Resolutions

Remote e-voting was conducted from August 14, 2026 (09:00 A.M.) to August 16, 2026 (05:00 P.M.) through NSDL platform. All three ordinary resolutions were approved:

1. Approval of Audited Financial Statements: Adoption of audited standalone and consolidated financial statements for FY ended March 31, 2026, together with Reports of Board of Directors and Auditors

2. Dividend Declaration: Confirmation of interim dividend and declaration of final dividend for financial year 2025-26

3. Director Re-appointment: Re-appointment of Mr. Aayush Munjal (DIN: 07276802) as director liable to retire by rotation

Shareholder Queries and Management Responses (Annexure B)

Employee Strength: Total employees are 25 as on August 10, 2026.

Investment Plans: Company has planned investments of approximately ₹135 crore over the next two years. The Company is also exploring further investment opportunities and evaluating potential projects as part of its future growth plans.

Profit Booking: Shareholders were directed to refer to the unaudited financial results for the quarter ended June 30, 2026, as disclosed to BSE Ltd. on August 11, 2026.

Foreign Exchange Impact: The global situation, specifically the conflict in Iran, has destabilized the petroleum market and affected the strength of the rupee, impacting the Company and its operations. Management is taking appropriate measures to create an appropriate hedge against the decline in the value of the Rupee.

ESM Stage 1 Restriction: Management noted concerns regarding ESM Stage 1 restriction imposed by NSE and BSE. The placement of the Company's scrip under ESM Stage 1 is done by Exchanges based on automated criteria jointly decided by the Exchange and SEBI, not due to any action or omission by the Company.

NCLT Resolution Plan Settlement:

  • Company had submitted Resolution Plan as Resolution Applicant for Sharan Hospitality Private Limited (SHPL) to take over the company and its assets (commercial complex in Mumbai)
  • After NCLT approval, Axis Bank Limited (financial creditor) initiated liquidation proceedings against SHPL, which were set aside by NCLAT
  • Axis Bank appealed to Supreme Court and assigned its financial assets in SHPL to Assets Care & Reconstruction Enterprise Limited (ARC)
  • Company executed Consent and Dispute Settlement Agreement dated July 15, 2026 with ARC, settling the dispute
  • Company entered into Securities Purchase Agreement with NovumLake Property Fund and 360 ONE Real Assets Advantage Fund for financing implementation
  • Resolution Plan contemplates payment of ₹81,84,10,538 towards Resolution Plan Amount and ₹23,58,69,998 towards Additional Interest
  • Dispute settled pursuant to Consent Agreement dated July 15, 2026, taken on record by Supreme Court Order dated July 17, 2026

Debt Status: The Company is currently debt-free.

Meeting Administration

  • Ms. Neeta Aggarwal, Company Secretary in Practice, appointed as Scrutinizer for voting process
  • E-voting facility remained open for 15 minutes during meeting
  • Meeting concluded at 12:01 P.M. (including time allowed for e-voting at AGM)