Max Financial Services Limited has submitted to the Exchange a copy of the Scrutinizers' report of the Postal Ballot. Further, the company has informed the Exchange regarding voting results with respect to the Postal Ballot Notice dated February 11, 2026.
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Max Financial Services Limited has announced the results of its postal ballot conducted between February 20 and March 21, 2026. Two special resolutions were passed by shareholders with overwhelming majority: (1) appointment of Mr. Bharat Anand (DIN: 02806475) as an Independent Director for a 5-year term from March 29, 2026 to March 28, 2031, and (2) approval of remuneration of up to Rs. 20 lakhs per annum to Mr. Bharat Anand for three years. The appointment resolution received 96.85% votes in favor (29,52,26,794 shares) versus 3.15% against (95,89,743 shares), while the remuneration resolution received near-unanimous 99.9987% approval (30,48,12,442 shares in favor). Total voting participation stood at 88.32% of outstanding shares, with promoter group, public institutions, and public non-institutions all voting overwhelmingly in favor of both resolutions.
This is a routine corporate governance matter with no material impact on the stock. The appointment of an independent director and modest remuneration of Rs. 20 lakhs per annum have received strong shareholder backing, indicating good corporate governance practices. Investors are unlikely to see any significant price movement from this announcement.