Modipon Limited has announced its 59th Annual General Meeting (AGM) to be held on Tuesday, September 29, 2026, via Video Conferencing. The company will transact ordinary and special businesses, including the adoption of the audited financial statements for the fiscal year ended March 31, 2026, and the appointment of new statutory auditors. Key special businesses involve approving material related party transactions with Status Mark Finvest Limited and Ashoka Mercantile Limited, seeking shareholder approval for financial assistance up to ₹1 crore with each entity.
59th Annual General Meeting Scheduled
Modipon Limited will convene its 59th Annual General Meeting (AGM) on Tuesday, September 29, 2026, at 3:00 p.m. IST. The meeting will be conducted through Video Conferencing (VC) or other Audio-Visual Means (OAVM), in line with recent government circulars. The company will use this platform to transact ordinary and special businesses as detailed in the notice dated August 14, 2026.
Financial Highlights and Auditor Appointment
A key agenda item will be the consideration and adoption of the audited financial statements for the fiscal year ended March 31, 2026, along with the reports of the board of directors and independent auditors. Shareholders will also vote on the appointment of M/s Vasu Bansal & Co., Chartered Accountants, as the new Statutory Auditors for a term of five consecutive years, commencing from the conclusion of the 59th AGM until the 64th AGM, at a remuneration of ₹3,20,000/- per annum plus applicable taxes.
Material Related Party Transactions
The AGM agenda includes special business items concerning material related party transactions. Shareholders will be asked to approve transactions with Status Mark Finvest Limited and Ashoka Mercantile Limited for availing financial assistance. The company proposes to enter into or continue related party transactions for financial assistance, with an aggregate amount up to ₹1 crore with each entity, to meet day-to-day statutory, administrative, and other necessary expenses following the permanent closure of its fibre unit operations.
E-Voting and Record Date
The record date for the purpose of e-voting has been set as Tuesday, September 22, 2026. The remote e-voting facility will be open from 9:00 a.m. IST on Saturday, September 26, 2026, until 5:00 p.m. IST on Monday, September 28, 2026. The Register of Members and Share Transfer Books will remain closed from Wednesday, September 23, 2026, to Tuesday, September 29, 2026, inclusive, for the purpose of the AGM.
Annual Report Dissemination
As per Regulation 34(1) of the SEBI Listing Regulations, the Annual Report for the Financial Year 2025-26, along with the AGM Notice, is being sent to all Members in electronic mode. It is also available on the company’s website at https://modipon.net/.
Source: BSE
