Lake Shore Realty Completes Major Corporate Changes via Postal Ballot; Approves Director Appointment and Office Shift

Lake Shore Realty Completes Major Corporate Changes via Postal Ballot; Approves Director Appointment and Office Shift​

Lake Shore Realty Limited, formerly Mahaan Foods Limited, announced that it successfully concluded a series of special resolutions through its postal ballot process on July 3, 2026. The resolutions covered the appointment of an Independent Director, the shifting of the company’s registered office, and approval for providing security in connection with a loan or advance.

The results of the three special resolutions were announced following the Scrutinizer's report, issued by Dipti Zaveri & Co.

Postal Ballot Resolution Results Summary​

The votes gathered during the postal ballot process showed strong support across all matters considered by shareholders. The voting details for each resolution are provided below:

Appointment of Independent Director​

Resolution One, which concerned the appointment of Mr. Narendra Kumar Verma (DIN: 05164866), was duly approved by shareholders with requisite majority. The resolution sought to appoint Mr. Verma as a Non-Executive Independent Director for a consecutive period of five years, commencing from May 15, 2026, and ending on May 14, 2031.

Mr. Verma’s profile includes over four decades of experience in Oil & Gas exploration and production. His experience encompasses holding board positions as Director Exploration and Business Development / Managing Director and CEO of Fortune 500 National Oil Company (ONGC) with a global footprint. He has also held roles including President at Rezlytix Technologies Ltd. and Ex Chairman Cogniwave AI Technologies Ltd.

Office Shift and Loan Approval​

Resolution Two, which approved the shift of the company’s Registered Office from the State of National Capital Territory of Delhi to the State of Maharashtra, was passed by shareholders with a majority. The resolution entailed consequential amendment in Clause II of the Memorandum of Association of the Company.

Furthermore, Resolution Three, pertaining to the approval of loan or advance/giving guarantee/providing security under Section 185 of the Companies Act, 2013, was also approved by members.

The results were certified as passed by Dipti Zaveri & Co., and the company confirmed that all Special Resolutions contained in Item 1, 2, and 3 of the Postal Ballot Notice had been passed with requisite majority.

Stock Price Movement​

Lake Shore Realty Ltd shares advanced at ₹71.14 in post-market trade today, reflecting a gain of 4.73%. The stock saw noticeable intraday movement, trading between a low of ₹66.00 and a high of ₹72.90.