Meeting Details

  • Meeting Type: Postal Ballot (No physical meeting was held).
  • Effective Date: The results of the postal ballot became effective on October 20, 2026.
  • Record Date: The cut-off date for determining shareholders eligible to vote was September 11, 2026.

Summary of Proposed Resolutions and Implications

Two resolutions were proposed for shareholder approval via postal ballot:

1. Special Resolution: Approval under Section 180(1)(a) of the Companies Act, 2013 and Regulation 37A of the SEBI LODR for the Slump Sale of the company's Jaipur Unit.

2. Ordinary Resolution: Approval of a Related Party Transaction with Aro Granite International INC. USA.

The promoters/promoter group were noted as being interested in both resolutions.

Voting Process and Methods

The voting was conducted exclusively through a remote e-voting facility provided by Central Depository Services (India) Limited (CDSL).

  • Voting Platform: https://www.evoting.nsdl.com
  • Voting Period: Commenced on September 21, 2026, at 10:00 A.M. IST and ended on October 20, 2026, at 05:00 P.M. IST.
  • Notice Dispatch: The Postal Ballot Notice was sent via email to all members whose email addresses were registered with the company, its RTA (Alankit Assignments Limited), or their Depository Participants.
  • Public Notice: An advertisement was published in the English newspaper 'The Pioneer' and the Hindi newspaper 'Veer Arjun' on September 17, 2026.

Key Voting Outcomes

Overall Participation

  • Total Shareholders on Record Date: 11,684
  • Total Number of Equity Shares: 15,300,000
  • Total Votes Polled (Both Resolutions): 652,831 votes, representing 4.2668% of the total outstanding shares.

Resolution-wise Results

Resolution 1: Slump Sale of Jaipur Unit (Special Resolution)

  • Total Valid Votes Polled: 652,831
  • Votes in Favor: 642,967 (98.4890% of votes polled)
  • Votes Against: 9,864 (1.5110% of votes polled)
  • Invalid Votes: Nil
  • Result: Passed with requisite majority.

Breakdown by Shareholder Category for Resolution 1:

  • Promoter & Promoter Group: Held 6,285,656 shares. They were interested parties and did not cast any votes (0.0000% participation).
  • Public Institutional Holders: Held 0 shares and cast 0 votes.
  • Public Others: Held 9,014,344 shares. Cast 652,831 votes (7.2421% participation), of which 642,967 were in favor and 9,864 were against.

Resolution 2: Related Party Transaction (Ordinary Resolution)

  • Total Valid Votes Polled: 652,830
  • Votes in Favor: 642,966 (98.4890% of votes polled)
  • Votes Against: 9,864 (1.5110% of votes polled)
  • Invalid Votes: Nil
  • Result: Passed with requisite majority.

Breakdown by Shareholder Category for Resolution 2:

  • Promoter & Promoter Group: Held 6,285,656 shares. They were interested parties and did not cast any votes (0.0000% participation).
  • Public Institutional Holders: Held 0 shares and cast 0 votes.
  • Public Others: Held 9,014,344 shares. Cast 652,830 votes (7.2421% participation), of which 642,966 were in favor and 9,864 were against.

Scrutinizer's Role, Findings, and Conclusions

  • Scrutinizer: M/s. S Panigrahi & Associates, Practicing Company Secretaries (FCS:4522/COP:27507), with Sabyasachi Panigrahi as the proprietor.
  • Appointment: Appointed by the Board of Directors in their meeting held on September 07, 2026.
  • Role: To scrutinize the postal ballot process in a fair and transparent manner.
  • Process: The e-voting system was unblocked and the results were generated in the presence of two witnesses from the company, Mr. Sumit Kumar and another individual, on October 21, 2026.
  • Findings: The scrutinizer verified the process and reconciled the e-voting report with the register of members. The report confirms the votes were cast only through the remote e-voting facility and no physical postal ballots were received.
  • Conclusion: Both resolutions are deemed to have been passed on October 20, 2026.

Compliance Confirmation

The document confirms that the entire process was conducted in compliance with:

  • Sections 108 and 110 of the Companies Act, 2013.
  • Rules 20 and 22 of the Companies (Management and Administration) Rules, 2014.
  • Relevant MCA General Circulars (including 14/2020, 17/2020, and 03/2025).
  • Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
  • Secretarial Standard on General Meetings (SS-2).

Other Information

  • CIN of the Company: L74899DL1988PLC031510
  • RTA: Alankit Assignment Limited
  • Scrutinizer's Address: D-163, Sector 47, Noida (U.P.) 201303