Key Resolution and Voting Details
The single resolution put to vote was:
Resolution No. 1: Approval for the reclassification of Mr. Utpal Sheth from the 'Promoter Group' of the Company to a 'Non-Promoter'.
The remote e-voting process was conducted through the services of National Securities Depository Limited (NSDL). The voting period commenced on Thursday, October 1, 2026, at 9:00 AM and ended on Friday, October 30, 2026, at 5:00 PM.
The cut-off date for determining member eligibility to vote was Friday, September 25, 2026. All members holding shares in physical or dematerialized form as of this date were entitled to vote.
The votes were unblocked in the presence of two independent witnesses: Ms. Dhanvi Shroff and Mr. Ansh Dilip Makwana, who are not employees of the Company.
Voting Outcome
The scrutinizer, Mr. Jay Mehta of M/s. Jay Mehta & Associates, Company Secretaries, certified the following result for Resolution No. 1:
- Voted in favour of the resolution: 100% of the total number of votes cast.
- Voted against the resolution: 0% of the total number of votes cast.
- Invalid votes: None.
The resolution was therefore passed unanimously by the shareholders who voted.
Regulatory Context and Compliance
The e-voting was conducted pursuant to Section 108 of the Companies Act, 2013, read with Rule 20 of the Companies (Management and Administration) Rules, 2014. The process adhered to guidelines from the Ministry of Corporate Affairs (Circulars No. 14/2020, 17/2020, and 3/2025) and SEBI (Circular No. SEBI/HO/CFD/CFD-PoD-2/P/CIR/2024/18 dated October 03, 2024), which mandated that assent or dissent for the postal ballot be communicated only through remote e-voting.
Financial Impact
Financial impact not quantified in the disclosure. The action is a change in the classification of a significant shareholder's status.