Mahaalaxmi Texpro AGM Results: All Six Resolutions Cleared

Total Valid Votes Cast: 55,167; Votes in Favour: 55,166 (99.999%)

Reader Takeaway: Shareholders approved all board resolutions, signaling progress in the firm's post-acquisition capital restructuring and management continuity.

What just happened

At the 33rd Annual General Meeting held on September 30, 2026, Mahaalaxmi Texpro Limited (formerly Abhishek Corporation) received shareholder approval for all six proposed resolutions. These included the adoption of FY26 financial statements, the appointment of directors, the reappointment of its statutory auditor, and the approval of material related party transactions with Mahaalaxmi Textile.

Why this matters

This meeting marks a key governance step for the entity following its transition under new ownership. The overwhelming support for board proposals provides management with the mandate to continue operations within the new corporate framework.

The Scrutinizer’s Note on Voting

The voting process was unique due to the company's ongoing capital restructuring, finalized after its sale as a going concern in March 2024. Because share cancellation and allotment processes remain pending with the Registrar of Companies (RoC), the scrutinizer restricted valid votes to those on the revised Register of Members. Consequently, 2,207,219 votes were marked invalid, while 55,167 were deemed valid.

What changes now

The management team remains stable with the reappointment of Mr. Deepak Chaganlal Choudhari as Managing Director and the appointment of Mr. Prathamesh Mukund Gaikwad as an Independent Director. The company will continue to work with the RoC and depositories to update its shareholding database to reflect the finalized capital structure.

What to track next

Investors should closely monitor updates regarding the completion of share cancellations and new allotments, as these actions will eventually finalize the company’s capital base and depository records.