Melstar Information Technologies Ltd

Meeting Details

• Date: October 19, 2026; time and venue not disclosed.

Key Agenda Items

• Audited standalone results for quarter and half-year ended Sep 30, 2026 with audit report.
• Audited consolidated results for quarter and half-year ended Sep 30, 2026 with audit report.
• Change of Name of the Company.
• Change in Object Clause of the Memorandum of Association.

Other Notes

• Trading window closed until 48 hours after the results announcement.

AGM details

• Held on 30 September 2026 at 11:28 AM via Video Conferencing.

Record date & voting scope

• Record date for voting: 18 September 2026; shareholders on record: 10,564.

Resolutions and outcomes

• Resolution 1: Adoption of standalone financial statements; passed with 405 in favour, 5 against.
• Resolution 2: Adoption of consolidated financial statements; passed with 405 in favour, 5 against.
• Resolution 3: Re-appointment of Tarun Kashyap as director; passed with 30 in favour, 1 against.
• Resolution 4: Material related party transactions for FY 2026-27; passed with 30 in favour, 1 against.
• Resolution 5: Loan up to Rs 300 crore from promoters/directors with equity conversion option; passed.

Director changes

• Tarun Kashyap reappointed as director (retiring by rotation).

AGM Details

• Date: 30 Sep 2026; Time: 11:28 IST; Mode: Video Conference.
• AGM concluded at 11:40 IST.

Key Resolutions

• Resolution 1 (Ordinary): Adoption of standalone financial statements.
• Resolution 2 (Ordinary): Adoption of consolidated financial statements.
• Resolution 3 (Ordinary): Re-appointment of director retiring by rotation.
• Resolution 4 (Ordinary): Approval of material related party transactions for FY 2026-27.
• Resolution 5 (Special): Approval for loan up to Rs 300 crore from promoters/directors with option to convert.

Voting status

• Voting results will be declared within prescribed timelines.

Other governance details

• Scrutiniser appointed: Pawan Jain & Associates, Practising Company Secretaries.
• Remote e-voting conducted 27–29 Sep 2026; AGM voting permitted during meeting.

Melstar Information Technologies Limited – Closure of Trading Window from 1 October 2026 till 48 hours from the announcement of the unaudited financial results for the 2nd Quarter ended 30 September 2026

Financial snapshot

• Standalone net sales: ₹75 Lakhs in FY2025-26.
• Consolidated net sales: ₹75 Lakhs in FY2025-26.
• Standalone net loss: ₹73.71 Lakhs.
• Consolidated net loss: ₹213.94 Lakhs.
• Standalone EPS: ₹-2.64.
• Consolidated EPS: ₹-7.66.
• Standalone cash: ₹4.51 Lakhs.
• Debt to Equity: pre 3.20, post 110.54.
• Dividend declared: none.

Capital restructuring & listing status

• NCLT approved Shivasons Resolution Plan in 2023.
• Promoter extinguishment; 5% public shareholding maintained.
• 26,42,000 shares allotted to Shivasons; record date 30 Aug 2024.
• In-principle listing approvals from BSE and NSE on July 20, 2026.
• Shares to be credited to depositories; listing underway.

Subsidiaries & business focus

• Subsidiaries: Melstarr Aviation Tech Pvt Ltd (99.99%), Melstarr Fintech Pvt Ltd (99.99%).
• New focus: aviation training and digital transformation; AI, IoT, software.
• MoUs with Rajasthan and Karnataka for Flight Training Institutes.

Governance & audit

• Board size 7; 4 Independent Directors.
• Tarun Kashyap resigned as Independent Director in Mar 2026.
• Secretarial auditors: S. Talwar & Associates; 5-year term.
• Statutory auditor: C K S P & Co LLP; going concern qualification.

Debt, liquidity & capital structure

• Standalone assets ≈ ₹1,382.5 Lakhs; Consolidated ≈ ₹1,391.5 Lakhs.
• Promoter holding 94.57%; Public 5.43% post-restructuring.
• Demat shareholding near-complete; 98.23% in demat form.
• Capital reduction and consolidation completed; listing underway.

Related party transactions

• Material RPT approvals for FY2026-27; ₹150 Crore limit.
• Related parties: Mindsweep Ideas Pvt Ltd; Shivasons Solutions India Pvt Ltd; Tarun Kashyap remuneration.
• Total proposed RPT value ₹150 Crore; ~2000% of turnover.

AGM, voting & approvals

• 39th AGM scheduled 30 Sep 2026 via VC/OAVM.
• Remote e-voting window 27-29 Sep 2026; 1000 member cap.
• No proxies; e-voting; speaker registration possible.

Risks & outlook

• Going concern risks tied to CIRP and listing delays.
• Regulatory and geopolitical uncertainties; execution risk for new ventures.
• Strategy focuses on aviation training and AI/digital services.

AGM Details

• Date, time, and mode: 30 September 2026 at 11:00 AM IST via VC/OAVM.
• Voting cut-off date: 18 September 2026.
• Register of Members/Share Transfer Books closed: 24–30 September 2026.

Ordinary Business

• Adopt standalone financial statements for year ended 31 March 2026.
• Adopt consolidated financial statements for year ended 31 March 2026.
• Re-appoint Tarun Kashyap as Director, liable to retire by rotation.

Material Related Party Transactions

• Approve RPTs for FY 2026-27 with Mindsweep Ideas Pvt Ltd up to Rs 150 crore.
• Approve RPTs for FY 2026-27 with Shivasons Solutions India Pvt Ltd up to Rs 150 crore.
• Approve remuneration for Tarun Kashyap up to Rs 25 lakh.

Promoter/Director Loans

• Approve unsecured loans up to Rs 300 crore from Promoters/Directors with option to convert into equity.

Director Changes

• Tarun Kashyap to be appointed as Director (retiring by rotation).

E-voting for 39th AGM

• Subject: Remote e-voting for Melstar's 39th AGM on 30 September 2026.
• E-voting provider: Bigshare Services Private Limited.
• Cut-off date for entitlement: 18 September 2026.
• Voting window: 27 September 2026, 09:00 IST to 29 September 2026, 17:00 IST.
• Scrutinizer: M/s Pawan Jain & Associates.
• AGM timing: 11:00 AM IST.

AGM date and book closure

• AGM scheduled for 30 September 2026 at 11:00 IST via VC/OAVM.
• Book closure from 24 September to 30 September 2026 to determine member records.

Key approvals

• Approved unsecured loan up to Rs 300 crore with conversion option from promoters/directors.
• Notice of 39th AGM for FY 2025-26 approved for 30 September 2026 at 11:00 IST via VC/OAVM.
• Appointed M/s Pawan Jain & Associates as Scrutinizer for e-voting.
• Cut-off date fixed for eligibility to participate in remote e-voting: 18 September 2026.
• Remote e-voting from Sep 27, 2026, 9:00 AM IST to Sep 29, 2026, 5:00 PM IST.
• Register of Members and Share Transfer Books to be closed 24–30 September 2026.
• 39th Board's Report for FY2025-26 approved along with annexures.