Meeting Details
The 56th Annual General Meeting was held on Thursday, 9th July, 2026 at 12:00 noon through Video Conferencing / Other Audio-Visual Means in compliance with MCA Circular No. 03/2025 dated September 22, 2025 and various SEBI circulars including SEBI/HO/CFD/CMD2/CIR/P/2022/62 dated May 13, 2022.
Attendance and Quorum
Ms. Anuradha Sharma, Company Secretary & Compliance Officer, confirmed requisite quorum was present and declared the meeting duly convened. The Notice and Annual Report for FY 2025-26 had been sent by email to all members with registered email addresses.
Leadership Attendance
Mr. Gaurav Swarup (Chairman) and Mr. Hartaj Sewa Singh (Vice-Chairman) were absent due to prior commitments. Mr. Ashutosh Gupta (Director) was absent due to technical connectivity issues. Mr. Atul Seksaria, Independent Director, was elected as Chairman of the meeting.
Auditor Presence
Statutory Auditors M/s Sanmark & Associates, Secretarial Auditor Mr. Baldev Singh Kashtwal, and Scrutinizer Ms. Shruti Garg (Practicing Company Secretary) joined the meeting via video conferencing.
Financial Performance Update
Profit After Tax (PAT) for Financial Year 2025-26 stood at ₹417.57 lakhs compared to ₹227.59 lakhs in FY 2024-25, representing a significant increase in profitability. The improved performance was driven by efficient management of resources and income from existing operations and investments.
Operational Highlights
The Company continues to focus on development of Facility Area Plots. As per Lease Deed terms, the Company must develop essential infrastructure and allied facilities within six years. Upon completion, the Company intends to monetize these assets, which are expected to contribute substantially to future revenues and profitability.
Auditor Observations
The Statutory Auditor's Report contained a minor observation regarding the audit trail feature in Tally Prime EL software, with management's response provided in the Board's Report.
The Secretarial Auditor's observation relates to 5,000 equity shares (approximately 0.04% of promoter holding of 1,31,10,000 equity shares) that remain undematerialized, with over 99.96% of promoter shareholding already dematerialized. The matter has been explained in the Board's Report, and the Company continues follow-up for dematerialization of remaining shares.
Voting Process
Remote e-voting was provided between Monday, 6th July, 2026 (9:00 AM IST) and Wednesday, 8th July, 2026 (5:00 PM IST). E-voting was also allowed during the AGM for members who hadn't voted remotely. Ms. Shruti Garg was appointed as Scrutinizer to ensure fair and transparent voting process.
Resolutions Considered
Ordinary Businesses:
1. Resolution no. 1: Adoption of Audited Financial Statements for FY ended March 31, 2026 with reports of Directors and Auditors (Ordinary Resolution)
2. Resolution no. 2: Re-appointment of Mr. Gaurav Swarup (DIN: 00374298) as director liable to retire by rotation (Ordinary Resolution)
3. Resolution no. 3: Re-appointment of Mr. Ashutosh Gupta (DIN: 09043439) as director liable to retire by rotation (Ordinary Resolution)
Meeting Proceedings
Members registered as speakers were invited to express views, and queries were addressed by the Chairman. The meeting concluded at 12:26 PM, with e-voting facility remaining open for an additional 15 minutes.
Voting Results
As per the Scrutinizer's Report, all three Ordinary Resolutions mentioned in the Notice of 56th Annual General Meeting were passed with requisite majority. Results were to be announced within 48 hours of meeting conclusion and intimated to Stock Exchange and uploaded on company and NSDL websites.