Proceedings of the Annual General Meeting.
Awaiting price reaction for this filing.
Maxgrow India Ltd held its Annual General Meeting on June 1, 2026, chaired by Mr. Laxman Medudula, with 24 members attending in person. This was a catch-up AGM covering five financial years at once (FY ending March 2021, 2022, 2023, 2024, and 2025) because the company could not hold AGMs on time due to its earlier Corporate Insolvency Resolution Process (CIRP), which started in June 2021. The company is emerging from insolvency: PP Metallix Limited's resolution plan was approved by creditors and sanctioned by NCLT in December 2023, a new board has been reconstituted, and management is now working on corporate governance and compliance cleanup. Shareholders approved audited financial statements for all five years, appointed R.B. Jain & Associates as statutory auditor, appointed secretarial auditors, and appointed four new directors including Mr. Shivkumar Ramsagar Pasi as Managing Director. Voting results from e-voting and polling will be announced once the scrutinizer's report is received.
This filing marks a positive turning point for the company as it formally emerges from insolvency, reconstitutes its board, and clears years of overdue compliance. For shareholders, the focus now shifts to the new management's revival plan and upcoming business performance, though the stock remains a high-risk, small-cap name given its insolvency history and years of pending financials.