Maan Aluminium enters power generation with overwhelming shareholder approval

Maan Aluminium Limited has secured overwhelming shareholder approval to expand its business into power generation, paving the way for the company to formally include renewable and conventional energy activities within its corporate objectives.

Through a postal ballot conducted via remote e-voting, shareholders approved two special resolutions with 99.9976 per cent of votes cast in favour, including an amendment to the company's Memorandum of Association (MOA) and the appointment of a new Independent Director.

Solar power supports aluminium operations

The approved MOA amendment allows Maan Aluminium to generate, manufacture, transmit and distribute electricity from multiple sources, including solar, wind, hydro, tidal, nuclear and hydrocarbon fuels, for captive use or commercial purposes.

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The company said the amendment aligns with its recently established solar power plant, which has been developed to support its existing aluminium extrusion manufacturing operations. The revised object clause remains subject to approvals from the Registrar of Companies and other relevant authorities.

Independent Director appointed

Shareholders also approved the appointment of Karan Bhatia as a Non-Executive Independent Director for a five-year term from April 1, 2026 to March 31, 2031.

Bhatia was initially appointed as an Additional Director by the Board and has confirmed that he meets the independence requirements under the Companies Act, 2013 and SEBI Listing Regulations.

Strong shareholder support

The postal ballot recorded participation representing 49.54 per cent of the company's outstanding shares, with both resolutions receiving 99.9976 per cent approval.

The e-voting process concluded on June 28, 2026, with the results subsequently submitted to the BSE and the National Stock Exchange of India (NSE).

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