Max Financial shareholders reject independent director Pradeep Pant's appointment

Max Financial Services Limited announced on December 22, 2025, the results of its postal ballot. Shareholders rejected the special resolution for the appointment of Pradeep Pant as an independent director of the company. The resolution received 66.1206% of votes in favour and 33.8794% against, failing to secure the requisite majority for approval. A total of 30,68,89,982 valid votes were cast for this resolution.

Conversely, the special resolution for the payment of remuneration to Pradeep Pant, pursuant to his appointment as an independent director, was passed by shareholders with a significant majority. This resolution garnered 92.9336% of votes in favour and 7.0664% against, from a total of 30,68,95,712 valid votes.

However, due to the primary resolution for Pant's appointment as an independent director not being approved, the approval for his remuneration has become non-operative. Consequently, no further action will be taken by Max Financial regarding the remuneration resolution.