Max India Board Approves Auditor Re-appointment, Fund Reallocation
Max India Limited's Board of Directors, in a meeting held on May 28, 2026, approved several key items. These include the re-appointment of M/s MGC Global Risk Advisory LLP as Internal Auditors for the financial year 2026-27 and an amendment to the Company’s policy on Related Party Transactions. The Board also approved the reallocation of the unutilized portion of Rights Issue proceeds, amounting to ₹124.23 Crore, which is subject to shareholder approval. Additionally, the issuance of corporate guarantee(s) up to ₹75 Crores for proposed loan facilities by wholly-owned subsidiaries was approved, pending requisite sanctions. The trading window for the company's securities remains closed until May 30, 2026, following the declaration of audited financial results for the quarter and year ended March 31, 2026.
Key Highlights
- MGC Global Risk Advisory LLP re-appointed as Internal Auditors for FY 2026-27.
- Board approved amendment to the Related Party Transaction policy.
- Unutilized Rights Issue proceeds of ₹124.23 Cr reallocated, pending shareholder approval.
- Corporate guarantees up to ₹75 Cr approved for subsidiary loan facilities.
- Trading window closed until May 30, 2026, post Q4/FY26 results.
Price Impact
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