Re-Appointment of Internal Auditor
MAXIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Max India Ltd's Board of Directors met on May 28, 2026 and approved four key items. First, the re-appointment of M/s MGC Global Risk Advisory LLP as Internal Auditors for FY 2026-27 — a firm established in 2015 providing risk advisory services across India, Asia Pacific, Middle East, and USA. Second, an amendment to the Company's Related Party Transaction policy. Third, reallocation of unutilized proceeds from the Rights Issue aggregating Rs. 124.23 crore, with funds shifting from brand marketing (reduced by Rs. 3.50 crore) and services vertical (reduced by Rs. 3.80 crore) to the products vertical (increased by Rs. 7.30 crore), subject to shareholder approval. Fourth, issuance of corporate guarantees up to Rs. 75 crore for wholly owned subsidiaries (Antara Senior Living Limited and Antara Assisted Care Services Limited) to secure proposed term loan facilities. The trading window remains closed till May 30, 2026.
The reappointment of internal auditors and Related Party Transaction policy amendment are routine governance matters. The corporate guarantee of Rs. 75 crore represents a contingent liability but carries no immediate financial impact on the listed entity. The Rights Issue reallocation is minor and subject to shareholder approval.