Max Ventures and Industries (Delisted) MD, chairman, board of directors and AGM

BSE: 539940Finance

Last traded ₹216.20 on 10 Aug 2023

Delisted on 2 Mar 2024.

Max Ventures and Industries 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.Max Ventures and Industries share news and announcements

Postal ballot, 17 Mar 2023

The company's voting result (opens in a new tab)

  1. Payment of Compensation to Mr. Analjit Singh as the Non-Executive Chairman of the Company for the Financial Year 2023-24.
    Special
    97.45% for2.55% against

    Against: promoters 0.00% · institutions 6.72% · other public 2.56%

    Turnout: all 83.49% · promoters 99.83% · institutions 99.72% · other public 19.11%

  2. Approval of Material Related Party Transactions, between Acreage Builders Private Limited (‘ABPL’), a step down wholly owned subsidiary of thenCompany, Max Estates Limited (‘MEL’), a wholly owned subsidiary of the Company and New York Life Insurance Company (‘NYL’), a Related Party of the Company asnunder:n(a) Investment by NYL by way of subscription to Compulsorily Convertible Debentures of ABPL, carrying an annual coupon rate of 20%, for an aggregate consideration ofnapproximately INR 143 Crores, in one or more tranche(s).n(b) Investment by MEL by way of subscription to Compulsorily Convertible Debentures of ABPL, carrying an annual coupon rate of 20%, for an aggregate consideration ofnapproximately INR 149 Crores, in one or more tranche(s).n(c) Sale by MEL of 49 per cent. of the equity share capital of ABPL, for an aggregate consideration of approximately INR 143 Crores, in one or more tranche(s) to NYL.MoreLess
    OrdinaryPromoters have an interest in it
    99.13% for0.87% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.57%

    Turnout: all 11.37% · promoters 0.00% · institutions 24.82% · other public 19.10%

  3. Approval of subsequent modification to Material Related Party Transaction(s) / Contract(s) / Arrangement(s)/ Agreement(s) entered into withnrespect to furnishing of the Corporate Guarantee in favour of any Bank(s) and /or the Security Trustee(ies) for securing the term loan facility up to a maximum principalnamount of Rs. 240,00,00,000/- (Rupees Two Hundred and Forty Crores only) being provided by the Bank(s) to Max Square Limited, a step down subsidiary of thenCompany.MoreLess
    OrdinaryPromoters have an interest in it
    97.86% for2.14% against

    Against: promoters 0.00% · institutions 1.92% · other public 2.57%

    Turnout: all 11.37% · promoters 0.00% · institutions 24.82% · other public 19.10%

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.

Postal ballot, 23 Dec 2022, 2 resolutions

The company's voting result (opens in a new tab)

  1. Investment by New York Life Insurance Company, a Shareholder holding more than 20% Equity Shares of the Company (along with New York Life International Holdings Limited) by way of subscription to the Equity Shares and 20% Compulsorily Convertible Debentures (amounting to INR 196 Crores) of Max Square Limited, subsidiary of the Company, in one or more tranche(s)MoreLess
    OrdinaryPromoters have an interest in it
    99.95% for0.04% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.13%

    Turnout: all 5.60% · promoters 0.00% · institutions 12.07% · other public 9.65%

  2. Investment by Max Estates Limited, a wholly owned subsidiary of the Company by way of subscription to the Equity Shares and 20% Compulsorily Convertible Debentures (amounting to INR 204 Crores) of Max Square Limited, subsidiary of the Company through Max Estates Limited, in one or more tranche(s)MoreLess
    OrdinaryPromoters have an interest in it
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.13%

    Turnout: all 5.62% · promoters 0.00% · institutions 12.07% · other public 9.74%

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.

Meeting called by the tribunal, 3 Dec 2022, 1 resolution

Present: 8 promoters and 28 others.The company's voting result (opens in a new tab)

  1. To receive, consider and approve the draft Composite Scheme of Amalgmation and Arrangement amongst Max Ventures and Industries Limited and Max Estates Limited and their respective shareholders and creditorsMoreLess
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.04%

    Turnout: all 77.62% · promoters 99.83% · institutions 87.85% · other public 9.23%

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, 25 Aug 2022, 4 resolutions

Present: 17 promoters and 37 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2022, and Reports of the Board of Directors and Auditors thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 77.06% · promoters 99.83% · institutions 90.12% · other public 6.21%

  2. To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2022 and the Report of the Auditors thereon.
    Ordinary
    0.00% for0.00% against

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

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

  3. To appoint a director in place of Mr. Analjit Singh (DIN: 00029641), who retires by rotation and being eligible offers himself for re-appointment
    Ordinary
    0.00% for0.00% against

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

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

  4. To approve corporate guarantees issued to IndusInd Bank Limited being Material Related Party Transaction(s)
    Ordinary
    97.69% for2.31% against

    Against: promoters 0.00% · institutions 3.08% · other public 0.17%

    Turnout: all 4.94% · promoters 0.00% · institutions 12.40% · other public 6.20%

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.

Postal ballot, 13 Mar 2022, 2 resolutions

The company's voting result (opens in a new tab)

  1. Payment of annual compensation to Mr. Analjit Singh (DIN: 00029641), Non-executive Chairman of the Company for the Financial Year 2022-23
    SpecialPromoters have an interest in it
    99.85% for0.15% against

    Against: promoters 0.00% · institutions 0.36% · other public 1.20%

    Turnout: all 77.45% · promoters 99.83% · institutions 91.03% · other public 6.94%

  2. Appointment of Mr. Ka Luk Stanley Tai (DIN: 08748152) as a Non-Executive Director of the Company
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.48%

    Turnout: all 77.45% · promoters 99.83% · institutions 91.03% · other public 6.94%

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.

Postal ballot, 16 Dec 2021, 1 resolution

The company's voting result (opens in a new tab)

  1. Approval for sale / disposal / divestment of the entire 51% (Fifty One Percent) of the paid up equity share capital held by the Company in Max Specialty Films Limited, a material unlisted subsidiary of the Company, in two separate tranches, to Toppan Inc.MoreLess
    Special
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.20% · other public 7.73%

    Turnout: all 56.02% · promoters 99.83% · institutions 20.93% · other public 1.25%

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, 23 Sep 2021, 3 resolutions

Present: 19 promoters and 45 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2021, and Reports of the Board of Directors and Auditors thereon.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.29%

    Turnout: all 55.39% · promoters 99.83% · institutions 17.85% · other public 2.32%

  2. To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2021 and the Report of the Auditors thereon.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.29%

    Turnout: all 55.38% · promoters 99.83% · institutions 17.85% · other public 2.31%

  3. To appoint a director in place of Mr. Analjit Singh (DIN: 00029641), who retires by rotation and being eligible offers himself for re-appointment
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

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

    Turnout: all 55.38% · promoters 99.83% · institutions 17.85% · other public 2.31%

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.

Postal ballot, 29 Apr 2021, 1 resolution

The company's voting result (opens in a new tab)

  1. Approval for payment of annual compensation to Mr. Analjit Singh (DIN: 00029641), Non-Executive Chairman of the Company for the Financial Year commencing from April 1, 2021
    SpecialPromoters have an interest in it
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.01% · other public 14.30%

    Turnout: all 57.04% · promoters 99.83% · institutions 23.53% · other public 1.22%

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.

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.

Mutual fund votes, meeting of 13 Mar 2022, 1 fund house

  • Payment of annual compensation to Mr. Analjit Singh (DIN: 00029641), Non-executive Chairman of the Company for the Financial Year 2022-23
    1 for0 against
  • Appointment of Mr. Ka Luk Stanley Tai (DIN: 08748152) as a Non-Executive Director of the Company
    1 for0 against

Mutual fund votes, meeting of 16 Dec 2021, 1 fund house

  • Approval for sale / disposal / divestment of the entire 51% (Fifty One Percent) of the paid up equity share capital held by the Company in Max Specialty Films Limited, a material unlisted subsidiary of the Company, in two separate tranches, to Toppan Inc.MoreLess
    1 for0 against
2 earlier meetings

Mutual fund votes, meeting of 23 Sep 2021, 1 fund house

  • To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2021, and Reports of the Board of Directors and Auditors thereon.
    1 for0 against
  • To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2021 and the Report of the Auditors thereon.
    1 for0 against
  • To appoint a director in place of Mr. Analjit Singh (DIN: 00029641), who retires by rotation and being eligible offers himself for re-appointment
    1 for0 against

Mutual fund votes, meeting of 29 Apr 2021, 1 fund house

  • Approval for payment of annual compensation to Mr. Analjit Singh (DIN: 00029641), Non-Executive Chairman of the Company for the Financial Year commencing from April 1, 2021
    1 for0 against

Each fund house counted once, from its own disclosure; the reasons are its own words.