Meeting Details

The Extraordinary General Meeting was held on Friday, August 14, 2026, at 11:00 a.m. through Video Conferencing/Other Audio Visual Means (VC/OAVM). The cut-off date for determining shareholders entitled to vote was Friday, August 7, 2026.

Proposed Resolutions and Implications

Four special resolutions were proposed for shareholder approval:

1. Special Resolution: Increase in borrowing limits of the Company under section 180(1)(c) of the Companies Act, 2013

2. Special Resolution: Creation of mortgage/charge on the properties/undertakings of the Company under section 180(1)(a) of the Companies Act, 2013

3. Special Resolution: Approval for conversion of loan into equity under Section 62(3) of the Companies Act, 2013

4. Special Resolution: Approval for raising capital from eligible investors through an issuance of equity shares and/or other eligible securities

All resolutions were passed with the requisite majority.

Voting Process and Methods

The voting was conducted through two methods:

  • Remote e-voting: Period remained open from Monday, August 10, 2026 at 9:00 a.m. to Thursday, August 13, 2026 at 5:00 p.m.
  • E-voting during EGM: For shareholders present at the EGM through VC/OAVM who had not cast their vote earlier through remote e-voting

Central Depository Services (India) Limited (CDSL) was appointed as the agency for providing e-voting facility.

Key Voting Outcomes

Overall Participation

  • Total number of shareholders on record date: 2,210,170
  • Total votes cast represented 89.04% of outstanding shares (17,171,627,705 shares out of 19,284,694,705 total shares)

Resolution-wise Results:

Resolution 1 - Increase in borrowing limits

  • Total votes in favor: 17,153,301,299 shares (99.89% of votes cast)
  • Votes against: 18,326,406 shares (0.11% of votes cast)
  • Invalid votes: 1,716 shares

Resolution 2 - Creation of mortgage/charge

  • Total votes in favor: 17,106,108,446 shares (99.62% of votes cast)
  • Votes against: 65,519,646 shares (0.38% of votes cast)
  • Invalid votes: 1,329 shares

Resolution 3 - Conversion of loan into equity

  • Total votes in favor: 17,118,103,355 shares (99.69% of votes cast)
  • Votes against: 53,524,350 shares (0.31% of votes cast)
  • Invalid votes: 1,716 shares

Resolution 4 - Raising capital through equity issuance

  • Total votes in favor: 17,171,451,544 shares (100.00% of votes cast)
  • Votes against: 177,877 shares (0.00% of votes cast)
  • No invalid votes

Category-wise Breakdown:

Promoter and Promoter Group (14,330,826,835 shares)

  • 100% participation across all resolutions
  • 100% voted in favor of all resolutions

Public Institutions (369,261,280,7 shares held)

  • Participation rate: 73.49% (2,713,614,488 shares voted)
  • Approval rates ranged from 97.59% to 99.99% across resolutions

Public Non-Institutions (126,125,506,3 shares held)

  • Participation rate: 10.08% (127,186,382 shares voted)
  • Approval rates ranged from 99.90% to 99.95% across resolutions

Scrutinizer's Role and Findings

Chirag Shah, Practicing Company Secretary (FCS: 5545; CP: 3498), was appointed as Scrutinizer. His responsibilities included providing a consolidated report on votes cast through both remote e-voting and e-voting during the EGM.

The votes were unblocked on August 14, 2026, at approximately 11:24 a.m. in the presence of two witnesses (Mr. Malav Bhavsar and Ms. Zankhana Shah) who are not employees of the Company. The scrutinizer confirmed that all voting procedures complied with relevant regulations.

Compliance Confirmation

The document confirms compliance with:

  • The Companies Act, 2013 and its Rules
  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Secretarial Standard-2 on General Meetings issued by the Institute of Company Secretaries of India