Mayasheel Ventures Board Approves Key Appointments, Reallocates IPO Funds and Fixes AGM Details
Mayasheel Ventures Limited (formerly known as Mayasheel Construction) held a meeting of its Board of Directors on Tuesday, July 21, 2026. The board considered and approved several significant matters concerning the company's operations, future financial planning, and upcoming general meetings.Among the key decisions made by the board was the recommendation for the appointment of M/s Rakesh Chhoker & Associates, Practising Company Secretaries, as Secretarial Auditors for a term spanning five consecutive years, commencing from April 1, 2026, through March 31, 2031. This appointment is subject to approval by the Members of the company.
The Board also approved the Directors' Report for the Financial Year ended March 31, 2026, along with its annexures forming part of the Annual Report. Furthermore, the board approved and recommended a proposal concerning the utilization of unutilized proceeds from the Initial Public Offer (IPO). This involves reallocating ₹400.00 Lakhs, which was originally designated for Capital Expenditure, to cover Working Capital Requirements, subject also to the approval of the Members.
The company’s plans for its second Annual General Meeting (AGM) were finalized. The AGM is scheduled for Friday, August 14, 2026, at 9:30 A.M. in person, scheduled to be held at Hotel Tushar Elegant KM-35, Kavi Nagar, J Block, Ghaziabad, Uttar Pradesh.
To manage the forthcoming General Meeting and associated processes, several operational matters were finalized by the board:
- E-Voting Schedule: The remote e-voting facility will commence on Tuesday, August 11, 2026, at 9:00 A.M. (IST) and concludes on Monday, August 13, 2026, at 5:00 P.M. (IST).
- Eligibility Cut-off: The cutoff date for determining the eligibility of Members entitled to cast votes through remote e-voting and during the AGM has been set as Tuesday, August 7, 2026.
- Scrutinizer Appointment: CS Mayank Bhardwaj was appointed as the Scrutinizer to ensure a fair and transparent process for both the remote e-voting and the Annual General Meeting voting.
- Cost Auditor Recommendation: The board recommended M/s Rahul Yadav & Co., Cost Accountants, for the role of Cost Auditor for FY 2026-27, subject to ratification by Members.
Details of Secretarial Auditors Appointment
The appointment details for the proposed Secretarial Auditors are as follows:| Particulars | Detail |
|---|---|
| Name of Auditor | M/s Rakesh Chhoker & Associates, Practising Company Secretaries |
| Term of Appointment | Five consecutive financial years (April 1, 2026 to March 31, 2031) |
| Effective Date | April 1, 2026 |
| Brief Profile | The Firm is experienced in corporate laws, securities laws, secretarial audit, and advisory services. They possess experience advising companies on compliance with the Companies Act, 2013, and SEBI Regulations. |
MAYASHEEL Stock Price Movement
Mayasheel Ventures Limited saw its shares tumble in post-market trading today, finishing down 2.26% to settle at ₹39.00. The stock traded on a modest volume of 3,000 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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