Esha Media Research Announces 43rd AGM with Focus on Director Regularization and Borrowing Limits

Esha Media Research Announces 43rd AGM with Focus on Director Regularization and Borrowing Limits​

Esha Media Research Limited has announced details for its 43rd Annual General Meeting (AGM), scheduled for Tuesday, July 7, 2026. The meeting will be conducted through Video Conferencing (VC) or other Audio-Visual Means (OAVM). The agenda includes the approval of audited financial statements and significant resolutions concerning the appointment of statutory auditors and multiple director regularizations.

The AGM is slated to transact ordinary business such as considering and adopting the financial statements for the fiscal year ended March 31, 2026. A key operational update is the proposal to appoint M/s S.K. Patodia & Associates LLP, Chartered Accountants, as the Statutory Auditors of the Company. The firm will hold office from the conclusion of the AGM until the conclusion of the 48th Annual General Meeting (covering FY 2026-27 till 2030-31). This appointment follows a casual vacancy created by the resignation of M/S N. A Shah & Associates, Chartered Accountants.

Key Director Appointments and Remuneration Approvals​

The meeting agenda features several special business items related to the regularization of directorial appointments, covering both executive management and independent positions.

Mr. Rakesh Kumar Mudgal (DIN: 11624903), who had been appointed as an Additional Director on April 22, 2026, is sought for regularization as a Executive Director. His remuneration package was detailed, including provisions regarding salary (Rs. 18,50,000) and perquisites/allowances (Rs. 18,50,000), with a minimum remuneration set at Rs. 37,00,000 in the event of inadequate profits during FY 2025-26.

The Company is also seeking approval for the regularization of several directors:

• Ashok Kumar Thakur (DIN: 07573726) was appointed as an Independent Director (Non-Executive) with a five-year tenure starting from April 22, 2026. Mr. Thakur brings over 40 years of experience in banking operations and financial services.
• Reena U Wagh (DIN: 11597282) is proposed for regularization as an Independent Woman Director (Non-Executive), with a five-year term from April 22, 2026. Ms. Wagh’s background includes over 16 years in brand management and entrepreneurship.
• Siddharth Subhash Saraf (DIN: 08082412) is slated for regularization as the Managing Director of the Company. His appointment, effective from April 22, 2026, includes a minimum remuneration of Rs. 45,00,000 and a salary package totaling Rs. 22,50,000 plus perquisites/allowance amounting to Rs 22,50,000.
• Dimple Joshi (DIN: 10418431) is proposed for regularization as an Independent Woman Director (Non-Executive), effective from February 13, 2026, with a five-year term.

The AGM also includes a resolution to approve managerial remuneration in excess of statutory limits for both Mr. Siddharth Saraf and Mr. Rakesh Mudgal, allowing payments up to a total of Rs. 2,00,00,000/- over three financial years starting April 22, 2026, should the Company experience inadequate profits or losses.

Corporate Financial Resolutions​

The notice seeks shareholder approval on critical matters related to corporate borrowing capacity and existing debt.

A Special Resolution is proposed to ratify previous borrowings exceeding the limits prescribed under Section 180(1)(c) of the Companies Act, with a specific ratification sought up to an overall limit of Rs. 12,00,00,000/-. Additionally, members are asked to approve and authorize borrowing monies up to a maximum aggregate sum of Rs. 50 Crores (Rupees Fifty Crores Only) as per the Companies Act, 2013.

The Company also seeks approval for ratifying borrowings made by the company totaling up to Rs.6,71,00,000, which had exceeded the aggregate of paid-up share capital and free reserves.

Key details regarding the AGM are summarized below:


The company has also set the remote e-voting period from July 2, 2026, at 9:00 a.m. IST until July 6, 2026, at 5:00 p.m. IST for all shareholders holding shares as of the cut-off date, June 30, 2026.

Stock Price Movement​

Esha Media Research Ltd shares settled at ₹21.92 after the close of trade on Friday, marking a drop of 4.98%.The stock remained completely flat throughout the session, with both the intraday high and low registering exactly at ₹21.92.