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Minal Industries Limited held its 37th AGM on 26 September 2025 via video conferencing, lasting just 13 minutes (11:00 AM to 11:13 AM). All 8 ordinary resolutions were passed with overwhelming majority, including adoption of standalone and consolidated audited financial statements for FY ended 31 March 2025, re-appointment of Mr. Divyanshu Navlakha (DIN: 01162140) as director retiring by rotation, and appointment of secretarial auditors. Four material related party transactions were also approved — with Minal Infojewels Limited, Selection Inc (USA), and M/s RSBL Jewels Partnership Firm — where promoter votes (~7.16 crore shares) were treated as invalid due to their interested party status. Total voting turnout was 55.6% of outstanding shares (10.68 crore shares polled), with 99.99% in favor for general resolutions and 99.9953% in favor for RPT resolutions.
Routine AGM outcome with all resolutions passed easily, indicating no shareholder dissent on financial statements or board re-appointments. The approval of multiple material related-party transactions (with promoter-group entities and overseas party Selection Inc USA) is a point worth monitoring for retail investors, as RPTs warrant ongoing governance scrutiny. Short meeting duration and limited public attendance (64 public shareholders) suggest a closely-held structure with promoter-driven outcomes.