Modern Engineering And Projects Ltd

Director appointment via postal ballot

• Purpose: Special Resolution to appoint Abhijit Deshpande as Independent Director for 5 years.
• Outcome: Special Resolution approved; appointment for 5-year term effective May 12, 2026.
• Role/term: Independent Director, 5-year term, not liable to retire by rotation.
• Experience: 35+ years in power sector; Mahavitaran; former MERC Secretary.
• Independence: Not related to any Company Directors; not debarred.
• Disclosure: Annexure provides appointment details under Regulation 30.

Purpose

• Postal ballot to appoint Abhijit Deshpande as Independent Director.

Resolution

• Resolution 1: Appointment of Abhijit Deshpande as Independent Director – Special Resolution.

Outcome

• Votes in favour: 12,136 (97.72%); against: 283 (2.28%).
• Total votes polled: 12,419; record date: 03-07-2026.
• Invalid votes: 15,200.

Shareholder impact

• Independent director appointment enhances governance; no capital or structural changes reported.

Director details

• Role: Independent Director; term not disclosed.

Meeting Details

• Board meets on August 13, 2026; time/venue not disclosed.

Key Agenda Items

• Consider and approve unaudited financial results for quarter ended June 30, 2026.

Other Notes

• Trading window closed from July 1, 2026; opens 48 hours after results are declared.

Dematerialisation processing

• Dematerialisation requests for quarter ended 30 June 2026 were processed (accepted/rejected) by the RTA and reported to depositories.
• Securities dematerialised were listed on the exchanges where the existing securities are listed.
• Physical certificates for dematerialisation were mutilated and cancelled; depository name substituted as registered owner within timelines.

Postal ballot purpose

• Approval for Special Resolution to appoint Abhijit Deshpande as Independent Director.

Resolution details

• Special Resolution Item 1: appoint Abhijit Deshpande as Independent Director for five years from May 12, 2026.

Director appointment

• Role: Non-Executive Independent Director; Tenure: five years; not liable to retire by rotation.

Experience and independence

• Experience: 35+ years in electricity distribution and regulation; former MERC Secretary; no listed directorships.

Remuneration and governance

• Remuneration as approved by Nomination & Remuneration Committee and Board.

Voting window

• Remote e-voting from 10 July to 8 August 2026; closes 5:00 PM IST.

Eligibility

• Eligible Members as on cut-off date July 3, 2026 may vote.

Outcome

• Outcome to be announced after the voting period; not yet available in the notice.

Shareholder impact

• Adds Independent Director; governance impact; no immediate capital or structural changes disclosed.

CFO transition

• Resigning CFO: Mrs. Francisca Rosario.
• Effective resignation date: close of business hours June 30, 2026.
• Reason for resignation: to pursue an alternate career opportunity outside the Organisation.
• Board has taken note of the resignation.
• Navraj Bhatt appointed CFO and designated as KMP, effective July 1, 2026.
• Navraj Bhatt authorized for materiality determinations and disclosures to Stock Exchange.