Indong Tea Company Ltd (543769)

Indong Tea Company Ltd has accepted the resignation of Shri Madanlal Garg (DIN: 00670278) from his position as Non-Executive Non-Independent Director, effective October 23, 2026. Shri Madanlal Garg is a promoter-family member, being the younger brother of Chairman Hariram Garg and uncle to MD Rajesh Garg. The company confirmed that there are no material reasons for his departure other than those mentioned in his resignation letter. The announcement has no direct operational or financial impact on the company.

• Resignation of Non-Executive Non-Independent Director Shri Madanlal Garg accepted on October 23, 2026
• Board meeting held and concluded between 01:30 P.M. and 02:00 P.M. on October 23, 2026
• Outgoing director is the brother of Chairman Hariram Garg and uncle of MD Rajesh Garg
• Director confirmed no other material reasons for resignation

Indong Tea Company Ltd has submitted the voting results and scrutinizer's report for its 36th Annual General Meeting held on September 28, 2026. Shareholders approved all 8 ordinary and special resolutions with overwhelming majorities (>99.9% in favor across resolutions). Notably, Hariram Garg stepped down as Managing Director to continue as Chairman and Executive Director, while Rajesh Garg was redesignated from Non-Executive Director to Managing Director. Additionally, M/s Agarwal Kejriwal & Co was reappointed as statutory auditor for a five-year term.

• All 8 resolutions passed, with voter turnout reaching 75.0374% of total outstanding shares (14,573,048 votes polled).
• Special resolution approved Hariram Garg's step down as Managing Director to Chairman & Executive Director with 99.9726% votes in favor.
• Ordinary resolution approved redesignation of Rajesh Garg as Managing Director with 99.9726% votes in favor.
• Reappointment of M/s Agarwal Kejriwal & Co as statutory auditor for a further 5-year term approved with 100% votes in favor.

Indong Tea Company shareholders have approved the appointment of Rajesh Garg as Managing Director for a 5-year term from September 28, 2026, to September 27, 2031. Shri Hariram Garg stepped down from the MD position effective September 28, 2026, citing health reasons, and transitions to Chairman & Executive Director from October 1, 2026. Additionally, shareholders approved the re-appointment of Independent Director Akhil Kumar Manglik for 5 years starting February 4, 2027, and re-appointed M/s Agarwal Kejriwal & Co as Statutory Auditors for 5 years until the 41st AGM in 2031.

• Rajesh Garg appointed Managing Director for a 5-year term from September 28, 2026, to September 27, 2031
• Hariram Garg stepped down as MD on September 28, 2026, and transitions to Chairman & Executive Director from October 1, 2026
• Independent Director Akhil Kumar Manglik re-appointed for a 5-year term from February 4, 2027, to February 3, 2032
• Statutory Auditor M/s Agarwal Kejriwal & Co re-appointed for 5 consecutive years up to the 41st AGM in 2031

Indong Tea Company announced that Shri Hariram Garg has voluntarily stepped down from the position of Managing Director effective September 28, 2026 due to health reasons, while continuing as Chairman and Executive Director from October 1, 2026. The Board approved the appointment of Non-Executive Director Shri Rajesh Garg as the new Managing Director for a 5-year term from September 28, 2026 to September 27, 2031. Additionally, Independent Director Shri Akhil Kumar Manglik was re-appointed for a second 5-year term from February 4, 2027 to February 3, 2032. All appointments remain subject to shareholder approval.

• Hariram Garg stepping down as Managing Director effective September 28, 2026, transitioning to Chairman & Executive Director from October 1, 2026
• Rajesh Garg appointed as Managing Director for a 5-year term from September 28, 2026 to September 27, 2031
• Independent Director Akhil Kumar Manglik re-appointed for 5 consecutive years from February 4, 2027 to February 3, 2032
• Board meeting held on August 28, 2026, commenced at 05:00 PM and concluded at 05:30 PM

Madanlal Garg, a promoter of Indong Tea Company, has disclosed a revised inter-se transfer of 4,18,488 shares, representing a 2.155% stake in the company. The transaction was conducted off-market as a gift to an immediate relative on July 13, 2026. Following this transfer, Madanlal Garg's individual holding has decreased from 2.175% to 0.02%. As this is an internal promoter group transfer, the total promoter holding remains unchanged, though the filing was revised following a query from the BSE.

• Transfer of 4,18,488 equity shares representing 2.155% of the total share capital
• Madanlal Garg's individual holding reduced from 4,22,488 shares (2.175%) to 4,000 shares (0.02%)
• Transaction executed as an off-market inter-se transfer by way of gift on July 13, 2026
• Total equity share capital remains at 1,94,27,048 shares with a face value of Rs 10 each
• Revised disclosure submitted on August 12, 2026, in response to a BSE query

Sangita Madhogaria, a member of the promoter group, acquired 8,000 equity shares of Indong Tea Company Ltd through open market transactions between July 21 and July 22, 2026. Prior to this acquisition, she held no shares in the company. The transaction represents a marginal 0.04% of the total paid-up equity capital of 1,94,27,048 shares. This small insider purchase follows a period where overall promoter holding declined from 52.73% in June 2025 to 49.23% in March 2026.

• Acquisition of 8,000 equity shares via on-market transactions
• Transaction period occurred between July 21, 2026, and July 22, 2026
• Post-acquisition holding increased from 0% to 0.04% of the company
• Total paid-up equity share capital remains at Rs 19,42,70,480
• Acquirer belongs to the Promoter Group category

Brahmaputra Commodities Private Limited, a member of the promoter group, has exited its entire 0.659% stake in Indong Tea Company Ltd. The disposal involved 1,28,000 equity shares sold through open market transactions between January 28, 2026, and February 4, 2026. The total transaction value was Rs. 10,40,301. The disclosure was formally received by the company on July 16, 2026, resulting in the promoter group entity's holding becoming nil.

• Disposal of 1,28,000 equity shares representing 0.659% of the paid-up share capital
• Total transaction value of Rs. 10,40,301 executed via open market
• Promoter group member Brahmaputra Commodities Private Limited now holds 0% stake
• Transactions occurred between 28.01.2026 and 04.02.2026
• Delayed disclosure reported to the company on 16.07.2026

Mr. Madanlal Garg, a promoter of Indong Tea Company Ltd, transferred 4,18,488 equity shares to Mr. Hariram Garg, an immediate relative and fellow promoter, on July 13, 2026. This transaction was conducted off-market as an inter-se transfer by way of a gift, representing approximately 2.155% of the company's equity. Following the transfer, Madanlal Garg's individual holding decreased from 2.175% to 0.02%. Crucially, the total aggregate shareholding of the promoter group remains unchanged, indicating no shift in overall promoter control.

• Transfer of 4,18,488 equity shares representing 2.155% of the company
• Transaction executed as an off-market inter-se gift on July 13, 2026
• Madanlal Garg's individual holding reduced from 4,22,488 shares to 4,000 shares
• Zero change in the aggregate shareholding of the promoter category post-transfer
• Disclosure filed under SEBI (Prohibition of Insider Trading) Regulations, 2015