Satiate Agri AGM 2026: 4 Resolutions Approved in CIRP

AGM held while insolvency process is underway

Satiate Agri Limited held its 39th Annual General Meeting (AGM) on August 27, 2026, with shareholders voting on board appointments and the adoption of the company’s audited financial statements for FY26. The meeting was conducted through video conferencing and other audio-visual means (OAVM), in line with the process disclosed in the company’s AGM notice.

The AGM took place against the backdrop of the Corporate Insolvency Resolution Process (CIRP). The National Company Law Tribunal (NCLT), Indore Bench, admitted the CIRP application on August 20, 2026, and suspended the powers of the Board of Directors. As a result, the company’s management and affairs are stated to be vested in the Interim Resolution Professional (IRP), MVK IPE LLP.

NCLT admission and the role of the Interim Resolution Professional

According to the disclosed timeline, the NCLT, Indore Bench admitted the CIRP on August 20, 2026. This admission is significant because it changes how corporate decisions and governance are carried out. With the board’s powers suspended, the IRP becomes central to administering day-to-day affairs and overseeing processes that proceed during CIRP.

The AGM proceedings were chaired by Mr. Mangesh V. Kekre, who is identified as the Interim Resolution Professional and also the Designated Partner of MVK IPE LLP. This aligns with the company’s statement that board powers were suspended and management authority shifted under CIRP.

How the 39th AGM was conducted

The company stated that the AGM was conducted through video conference or other audio-visual means (OAVM). A total of 21 members participated through video conference or other audio-visual means.

Satiate Agri had earlier confirmed the AGM schedule through newspaper advertisements dated August 6, 2026. The notices were published in The Free Press Journal (English) and Choutha Sansaar (Hindi) in Indore, and included information on the meeting and remote e-voting.

The meeting was scheduled for Thursday, August 27, 2026 at 5:00 P.M. IST.

Four shareholder resolutions approved

Shareholders approved four resolutions at the AGM:

1. Adoption of audited financial statements for the fiscal year ended March 31, 2026.
2. Reappointment of Kailash Chand Dhaksia as a director, stated to be retiring by rotation.
3. Appointment of Yogendra Singh Bhati as a non-executive, non-independent director.
4. Appointment of Deepak Parashar as a whole-time director and key managerial personnel (KMP).

The agenda’s emphasis on board and senior management changes was repeatedly highlighted in the disclosed notice content, particularly in the context of losses reported for FY26.

Director and KMP appointment details disclosed in the notice

One of the central items was the appointment of Deepak Parashar as Whole-Time Director (KMP). The notice states a proposed term of three years, effective May 30, 2026. It also outlines remuneration: a proposed monthly salary of ₹35,000, with annual increments of up to ₹10,000, subject to Schedule V of the Companies Act, 2013.

The company’s notice also includes a proposal related to Yogendra Singh Bhati. It states that Bhati was initially appointed as an Additional Director on May 30, 2026, and would hold office until shareholder ratification. In the same set of disclosed information, a contact table lists Yogendra Singh Bhati as CFO, indicating he is also positioned as a key finance point of contact.

E-voting window, record date, and scrutinizer

Satiate Agri facilitated remote e-voting and e-voting during the meeting in line with the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key voting details disclosed:

• Record date: August 20, 2026 (shareholders holding shares as of this date were eligible to vote)
• Remote e-voting start: August 24, 2026 at 9:00 A.M. IST
• Remote e-voting end: August 26, 2026 at 5:00 P.M. IST
• E-voting platform: Central Depository Services (India) Limited (CDSL)

Mr. Ajit Jain, Proprietor of M/s Ajit Jain & Co., served as the scrutinizer for the voting process.

Financial backdrop: FY26 losses and Q1 trend

The leadership resolutions came amid losses that the company’s notice and related disclosures placed in focus. Satiate Agri reported a consolidated net loss of ₹3.28 crore for FY26 (₹327.51 lakh). This widened from a net loss of ₹1.04 crore in the previous year (₹104.17 lakh).

Separately, the notice text also mentions “FY26 losses of ₹2.74 crore” (₹274.28 lakh) in the context of AGM focus, indicating that losses were a key backdrop to the meeting and its governance agenda.

The company also reported a Q1FY27 standalone net loss of ₹0.40 crore (₹40.39 lakh), narrowing from ₹1.91 crore (₹191.37 lakh) in Q1FY26.

Other disclosures: governance exemptions, shareholding, and contacts

The notice states the company is exempt from related party transaction provisions and certain corporate governance norms for the half year ended March 31, 2026.

The registered office is disclosed as: 1 Cabin No. 1, Shop No. 6, Scheme No-71, Sec C Vikram Squre, Sudama Nagar, Indore-452009, Madhya Pradesh.

On shareholding, the disclosures list:

• Aditya Fincorp Private Limited: 23.11% (676,600 shares)
• Aditya Fincom Private Limited: 20.19% (591,100 shares)

A contact table lists Deepak Parashar (Whole-time Director), Yogendra Singh Bhati (CFO), and Priya Bhandari (Company Secretary) with the same mobile number +91-8889123123 and email Info@satiateagri.com.

What the AGM outcome signals during CIRP

Conducting an AGM during CIRP places unusual emphasis on procedural compliance, especially around voting, disclosures, and the roles of the IRP. In this case, the company disclosed that the board’s powers were suspended after the NCLT admission, and the IRP chaired the AGM. The four resolutions approved were tightly centred on statutory financial reporting and board or KMP appointments.

No stock-price movement or trading reaction was provided in the disclosed information. However, the combination of widening FY26 losses, the CIRP admission, and the formalisation of leadership roles through shareholder approval shows that governance actions continued alongside the insolvency process.

Key facts at a glance

Timeline of AGM and voting events

Conclusion

Satiate Agri’s 39th AGM on August 27, 2026 resulted in the approval of four resolutions covering FY26 audited accounts and key director and KMP appointments. The meeting was conducted online and chaired by the Interim Resolution Professional after the NCLT, Indore Bench admitted the company into CIRP on August 20, 2026. The next steps for shareholders and stakeholders will continue to be shaped by the CIRP process and any further updates issued through regulatory filings and formal communications.