AJR Infra and Tolling MD, chairman, board of directors and AGM

BSE: 532959Construction

Formerly Gammon Infrastructure Projects

Trading suspended since 4 Oct 2023

Last traded ₹0.70 on 3 Oct 2023

AJR Infra and Tolling board of directors

At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • ChairpersonMINEEL MADHUKAR MALI
  • Company Secretary and Compliance OfficerAMATULLA AKIL CHUNAWALA

6 directors4 independent1 executive1 non-executive

  • MINEEL MADHUKAR MALI · ChairpersonExecutive · joined Apr 2021 · reappointed Apr 2022 · 1 listed board · 2 committee seats
  • MAHENDRA KUMAR AGRAWALAIndependent · joined Oct 2018 · reappointed Dec 2023 · 60 months as independent · 1 listed board · 1 as independent · 2 committee seats, 2 as chair
  • VINOD SAHAIIndependent · joined Jul 2020 · reappointed Sep 2025 · 60 months as independent · 1 listed board · 1 as independent · 2 committee seats
  • SUNILBHAI CHHABARIAIndependent · joined Jul 2020 · reappointed Sep 2025 · 60 months as independent · 1 listed board · 1 as independent · 2 committee seats
  • SUBHRARABINDA BIRABARNon-executive · joined Nov 2022 · reappointed Dec 2023 · 1 listed board
  • KOMAL GOELIndependent · joined Feb 2025 · reappointed Sep 2025 · 60 months as independent · 2 listed boards · 2 as independent

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

1 director who left
  • SRINIVASU CHAGANTI, left 29 Dec 2025: Others

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 13 Aug 20265 of 6 present3 independent · 55 days in between
    • 18 Jun 20265 of 6 present4 independent

  • Audit Committee

    Chair MAHENDRA KUMAR AGRAWALA

    VINOD SAHAI, MINEEL MADHUKAR MALI, SUNILBHAI CHHABARIA

    • 13 Aug 20264 of 4 present3 independent · 55 days in between
    • 18 Jun 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair SUNILBHAI CHHABARIA

    MAHENDRA KUMAR AGRAWALA, VINOD SAHAI, SUBHRARABINDA BIRABAR

    • 18 Jun 20264 of 4 present3 independent

  • Stakeholders Relationship Committee

    Chair MAHENDRA KUMAR AGRAWALA

    VINOD SAHAI, MINEEL MADHUKAR MALI, SUNILBHAI CHHABARIA

    No meeting listed in the filing.

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Jun 2026.

  • NVC & Associates LLPPeer-review certificate valid to Jul 2027
2 earlier auditors
  • Natvarlal Vepari and Co LLPNamed in the filing for the quarter to Mar 2026
  • Natvarlal Vepari & Co LLPNamed in the filing for the quarter to Mar 2025

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

AJR Infra and Tolling AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.AJR Infra and Tolling share news and announcements

Annual general meeting, 29 Sep 2026

1,21,427 shareholders on the register on 22 Sep 2026; present: 2 promoters and 64 others; votes counted by VEERARAGHAVAN / VEERARAGHAVAN.The company's voting result (opens in a new tab)

  1. Adoption of Audited Financial Statements (including consolidated financial statements) for the financial year ended 31st March, 2026 and Report of Board of Directors and Auditors; thereon.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 23.49% · promoters 100.00% · institutions 0.00% · other public 15.75%

  2. Re-appointment of Mr. Subhrarabinda Birabar, Director (DIN-03249632) who retires by rotation and being eligible, offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    99.83% for0.17% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.31%

    Turnout: all 23.49% · promoters 100.00% · institutions 0.00% · other public 15.75%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 30 Sep 2025, 6 resolutions

1,21,491 shareholders on the register on 23 Sep 2025; present: 2 promoters and 90 others; votes counted by VEERARAGHAVAN / VEERARAGHAVAN.The company's voting result (opens in a new tab)

  1. Adoption of Audited Financial Statements (including consolidated financial statements) for the financial year ended 31st March, 2024 and Reports of Board of Directors and Auditors' thereon
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.20%

    Turnout: all 8.41% · promoters 57.33% · institutions 0.00% · other public 3.18%

  2. Re-appointment of Mr. Mineel Mali, Director (DIN-06641595) who retires by rotation and being eligible, offers himself for re-appointment
    Ordinary
    97.54% for2.46% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.26%

    Turnout: all 14.56% · promoters 57.33% · institutions 0.00% · other public 11.83%

  3. Appointment of M/s. Mitesh Shah & Co., Practicising Compnayt Secretaries as Secretarial Auditor of the Company
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.08%

    Turnout: all 14.56% · promoters 57.33% · institutions 0.00% · other public 11.83%

  4. Appointment of Ms. Komal Goel as in Independent Director
    Special
    97.53% for2.47% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.27%

    Turnout: all 14.56% · promoters 57.33% · institutions 0.00% · other public 11.83%

  5. Re-appointment of Mr. Vinod Sahai
    Special
    97.53% for2.47% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.28%

    Turnout: all 14.56% · promoters 57.33% · institutions 0.00% · other public 11.83%

  6. Re-appointment of Mr. Sunilbhai Chhabaria as in Independent Director
    Special
    97.63% for2.37% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.10%

    Turnout: all 14.56% · promoters 57.33% · institutions 0.00% · other public 11.83%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Extraordinary general meeting, 7 Apr 2025, 2 resolutions

1,21,531 shareholders on the register on 31 Mar 2025; present: 0 promoters and 32 others; votes counted by Veeraraghavan N / Veeraraghavan N.The company's voting result (opens in a new tab)

  1. Re-appointment of Mr. Mineel Mali as a Whole Time Director of the Company for a period of three years with effect from 1st April, 2025
    SpecialNot passedRecorded as not passed although most votes were for it; no reason is given
    63.39% for36.61% against

    Against: promoters 0.00% · institutions 0.00% · other public 36.61%

    Turnout: all 0.21% · promoters 0.00% · institutions 0.00% · other public 0.30%

  2. Appointment of Ms. Komal Goel as an Independent Director for a period of five years effective from 12th February, 2025
    Ordinary
    63.41% for36.59% against

    Against: promoters 0.00% · institutions 0.00% · other public 36.59%

    Turnout: all 0.21% · promoters 0.00% · institutions 0.00% · other public 0.30%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 28 Sep 2024, 3 resolutions

Present: 1 promoter and 1,21,561 others.The company's voting result (opens in a new tab)

  1. Adoption of Audited Financial Statements (including consolidated financial statements) for the financial year ended 31st March, 2024 and Reports of Board of Directors and Auditors' thereon
    Ordinary
    98.18% for1.82% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.82%

    Turnout: all 0.40% · promoters 0.00% · institutions 0.00% · other public 0.83%

  2. Reappointment of Mr. Subhrarabinda Birabar (DIN-03249632) who retires by rotation and being eligible offers himself for re-appointment
    Ordinary
    76.84% for23.16% against

    Against: promoters 0.00% · institutions 0.00% · other public 23.16%

    Turnout: all 0.40% · promoters 0.00% · institutions 0.00% · other public 0.83%

  3. Appointment of Mr. Srinivasu Chaganti (DIN - 06387528) as Non-Executive Non-Indepedent Director of the Company liable to retire by rotation
    Ordinary
    76.99% for23.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 23.01%

    Turnout: all 0.40% · promoters 0.00% · institutions 0.00% · other public 0.83%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 29 Dec 2023, 5 resolutions

Present: 1 promoter and 37 others.The company's voting result (opens in a new tab)

  1. Adoption of Audited Financial Statements (including consolidated financial statements) for the FY ended 31-03-2023 and Reports of the Board of Directors & Auditors thereon
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 6.12% · promoters 0.00% · institutions 20.80% · other public 0.65%

  2. Re-appointment of Mr. Mineel Mali, Whole-Time Director who retires by rotation and being eligible, offers himself for re-appointment
    Ordinary
    98.15% for1.85% against

    Against: promoters 0.00% · institutions 0.00% · other public 33.89%

    Turnout: all 6.12% · promoters 0.00% · institutions 20.80% · other public 0.65%

  3. Re-appointment of Mr. Mahendra Kumar Agrawala as an Independent Director of the Company, not liable to retire by rotation
    Ordinary
    98.22% for1.78% against

    Against: promoters 0.00% · institutions 0.00% · other public 32.54%

    Turnout: all 6.12% · promoters 0.00% · institutions 20.80% · other public 0.65%

  4. Revision in remuneration of Mr. Mineel Mali, Whole-Time Director of the Company
    Special
    98.14% for1.86% against

    Against: promoters 0.00% · institutions 0.00% · other public 34.05%

    Turnout: all 6.12% · promoters 0.00% · institutions 20.80% · other public 0.65%

  5. Ratification of remuneration payable to Ms. Bina Sampat, Cost Accountant, appointed as the Cost Auditors of the Company for the FY ended 31-03-2019
    Ordinary
    99.51% for0.49% against

    Against: promoters 0.00% · institutions 0.00% · other public 8.88%

    Turnout: all 6.12% · promoters 0.00% · institutions 20.80% · other public 0.65%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 29 Dec 2022, 4 resolutions

Present: 2 promoters and 28 others.The company's voting result (opens in a new tab)

  1. Adoption of Audited Financial Statements (including consolidated financial statements) for the financial year ended 31st March, 2022 and Reports of the Board of Directors and Auditors thereon
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.43%

    Turnout: all 5.86% · promoters 0.00% · institutions 19.71% · other public 0.68%

  2. Re-appointment of Mr. Mineel Mali, Whole-Time Director (DIN - 06641595) who retires by rotation and being eligible, offers himself for re-appointment
    Ordinary
    98.55% for1.45% against

    Against: promoters 0.00% · institutions 0.00% · other public 24.11%

    Turnout: all 5.86% · promoters 0.00% · institutions 19.71% · other public 0.68%

  3. Appointment of M/s. Natvarlal Vepari & Co., Chartered Accountants, Mumbai as Statutory Auditors of the Company
    Ordinary
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.14%

    Turnout: all 5.86% · promoters 0.00% · institutions 19.71% · other public 0.68%

  4. Appointment of Mr. Subhrarabinda Birabar as a Non-Executive Non-Independent Director (DIN - 03249623) of the Company, liable to retire by rotation
    Ordinary
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.64%

    Turnout: all 5.86% · promoters 0.00% · institutions 19.71% · other public 0.68%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Extraordinary general meeting, 12 Aug 2022, 1 resolution
  1. Sale or otherwise dilution of Company’s investment in Sikkim Hydro Power Ventures Limited, a wholly-owned material subsidiary of the Company
    Special
    99.99% for0.01% against

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Extraordinary general meeting, 28 Apr 2022, 2 resolutions

Present: 2 promoters and 28 others.The company's voting result (opens in a new tab)

  1. Re-appointment of Mr. Mineel Mali as the Whole-Time Director of the Company for a period of three years effective from 1st April, 2022
    Special
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.61%

    Turnout: all 6.31% · promoters 0.00% · institutions 20.85% · other public 1.37%

  2. Sale or otherwise dilution of Company’s investment in Vizag Seaport Private Limited
    Special
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.42%

    Turnout: all 6.31% · promoters 0.00% · institutions 20.85% · other public 1.37%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Tax disputes

Reported in the filing for the quarter to Sep 2026.

  • Tax disputeDy. Commissioner of Income-tax CC-7(2)Since 31 Jan 2024
    The Company preferred appeal against the order dated 31st January 2024 (Received on 5th April 2024) passed by the Income-tax Appellate Tribunal (“A” Bench), Mumbai ’) in ITA No.2330/Mum/2022 (assessment year 2007-08). This appeal is filed under section 260A of the Income-tax Act, 1961 on August 7, 2024.MoreLess
  • Tax disputeDy. Commissioner of Income-tax CC-7(2)Since 31 Jan 2024
    The Company preferred appeal against the order dated 31st January 2024 (Received on 5th April 2024) passed by the Income-tax Appellate Tribunal (“A” Bench), Mumbai in ITA No.2619/ Mum/2018 (assessment year 2008-09). This appeal is filed under section 260A of the Income-tax Act, 1961 on August 7, 2024.MoreLess
  • Tax disputeDy. Commissioner of Income-tax CC-7(2)Since 31 Jan 2024
    The Company preferred appeal against the order dated 31st January 2024 (Received on 5th April 2024) passed by the Income-tax Appellate Tribunal (“A” Bench), Mumbai in ITA No. 2620/Mum/2018 (assessment year 2009-10). This appeal is filed under section 260A of the Income-tax Act, 1961 on August 7, 2024.MoreLess
  • Tax disputeDy. Commissioner of Income-tax CC-7(2)Since 31 Jan 2024
    The Company preferred appeal against the order dated 31st January 2024 (Received on 5th April 2024) passed by the Income-tax Appellate Tribunal (“A” Bench), Mumbai ’) in ITA No. 2621/Mum/2018 (assessment year 2010-11).This appeal is filed under section 260A of the Income-tax Act, 1961.The Appeal was filed on August 7, 2024.MoreLess
  • Tax disputeDy. Commissioner of Income-tax CC-7(2)Since 31 Jan 2024
    The Company preferred appeal against the order dated 31st January 2024 (Received on 5th April 2024) passed by the Income-tax Appellate Tribunal (“A” Bench), Mumbai ’) in ITA No. 2622/Mum/2018 (assessment year 2011-12).This appeal is filed under section 260A of the Income-tax Act, 1961 on August 7, 2024.MoreLess
  • Tax disputeDy. Commissioner of Income-tax CC-7(2)Since 31 Jan 2024
    The Company preferred appeal against the order dated 31st January 2024 (Received on 5th April 2024) passed by the Income-tax Appellate Tribunal (“A” Bench), Mumbai l’) in ITA No. 1329/Mum/2022 (assessment year 2012-13).This appeal is filed under section 260A of the Income-tax Act, 1961 on August 7, 2024.MoreLess

In the company's own words, from its latest governance filing.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

None open at any quarter's end.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
No
The company has a risk management committee
No
The chair is related to the managing director
No
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.