Max Financial Services Shareholders Approve Appointment of Independent Director Through Postal Ballot

Max Financial Services Limited has successfully concluded its postal ballot process, with shareholders overwhelmingly approving the appointment of Mr. Bharat Anand as an Independent Director and his proposed remuneration package. The results were declared on March 21, 2026, following the completion of remote e-voting that commenced on February 20, 2026.

Postal Ballot Results Overview

The postal ballot addressed two special resolutions related to Mr. Bharat Anand's appointment and compensation structure. The voting was conducted entirely through remote e-voting via the NSDL platform, reflecting the company's adherence to digital governance practices.

Parameter: Details Cut-off Date: February 13, 2026 Voting Period: February 20 - March 21, 2026 Total Shareholders: 79,678 Participating Voters: 798 Total Shares Voted: 30,48,16,537

Resolution Results

Both resolutions received strong shareholder support, demonstrating confidence in the proposed governance changes.

Resolution 1: Director Appointment

The appointment of Mr. Bharat Anand (DIN: 02806475) as an Independent Director for a five-year term from March 29, 2026 to March 28, 2031 was approved with substantial majority.

Voting Outcome: Shares Percentage Votes in Favour: 29,52,26,794 96.85% Votes Against: 95,89,743 3.15% Total Valid Votes: 30,48,16,537 100.00%

Resolution 2: Remuneration Approval

The second resolution for payment of remuneration up to Rs. 20,00,000 per annum to Mr. Bharat Anand received even stronger support from shareholders.

Voting Outcome: Shares Percentage Votes in Favour: 30,48,12,442 99.99% Votes Against: 4,095 0.00% Total Valid Votes: 30,48,16,537 100.00%

Company Capital Structure

As of the cut-off date February 13, 2026, the company's capital structure comprised:

Capital Details: Amount/Quantity Paid-up Share Capital: Rs. 69,02,29,542 Total Equity Shares: 34,51,14,771 Face Value per Share: Rs. 2 Voting Participation: 88.32% of total shares

Voting Process and Compliance

The postal ballot was conducted in accordance with the Companies Act, 2013, and SEBI regulations. M/s. Sanjay Grover & Associates, Company Secretaries, served as the scrutinizer for the process. The company published advertisements in "Mint" (English) and "Desh Sewak" (vernacular) newspapers on February 20, 2026, ensuring proper communication to all eligible shareholders.

The remote e-voting facility was made available to all shareholders whose names appeared in the Register of Members as of the cut-off date, with the process monitored through NSDL's secured platform. The voting was unblocked on March 21, 2026 after 5:00 PM in the presence of independent witnesses.

Regulatory Compliance

The appointment follows all regulatory requirements under Sections 149, 150, 152, and 161 of the Companies Act, 2013, along with SEBI Listing Regulations. Mr. Bharat Anand meets the independence criteria as specified under Section 149(6) of the Act and has submitted the necessary declarations. The remuneration approval aligns with Section 197 of the Companies Act, 2013, and was recommended by the Nomination and Remuneration Committee.

Max Financial Services Limited has issued a public notice regarding the loss of share certificate for 860 equity shares, in compliance with regulatory requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance Notice

The company published the notice pursuant to Regulation 47 of SEBI regulations on March 21, 2026. The notice was formally communicated to both BSE Limited and National Stock Exchange of India Limited, where the company's shares are listed under scrip code 500271 and symbol MFSL respectively.

Share Certificate Details

The lost share certificate pertains to the following details:

Parameter: Details Folio Number: S002836 Certificate Number: 11162 Distinctive Numbers: 3975366 to 3976225 Number of Shares: 860 Shareholder Name: Syed Shamshad Husain

Public Warning and Claims Process

Max Financial Services has issued a public warning against purchasing or dealing with the mentioned share certificate. The company has established a 15-day window from the publication date for any person with claims regarding the said share certificate to lodge such claims with the company.

After the 15-day period expires, no claims will be entertained, and the company will proceed to issue a duplicate share certificate or entitlement letter. The company has stated it will not be responsible for any loss arising from transactions involving the lost certificate.

Corporate Information

The notice was signed by Siddhi Suneja, Company Secretary & Compliance Officer, and digitally signed on March 21, 2026. Max Financial Services Limited operates with its registered office in Punjab and corporate office in Noida, maintaining investor helpline services for shareholder queries and assistance.

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