Meeting Details

  • Type of Meeting: Postal Ballot through remote e-voting
  • Last Date of E-Voting: Monday, July 27, 2026
  • Record Date: July 19, 2026
  • Total Number of Shareholders on Record Date: 47,138
  • Scrutinizer: Biswajit Ghosh of BMP & Co. LLP (Membership No.: 8750)
  • Scrutinizer Appointment Date: June 27, 2026
  • Report Issuance Date: July 28, 2026

Proposed Resolutions and Implications

Five resolutions were put to vote:

1. Special Resolution: Approval for transfer of business comprising engineering services in Heavy Engineering, Automotive, and Energy industries of the Company and certain subsidiaries in India, US and UK by way of slump sale under Section 180(1)(a) of the Companies Act, 2013 and Regulation 37A of SEBI LODR Regulations.

2. Special Resolution: Approval for transfer of business comprising engineering services in Aerospace industries of the Company, its branches in Germany and France, and subsidiaries in India, Germany, UK, Canada and USA under Section 180(1)(a) of the Companies Act, 2013 and Regulation 37A of SEBI LODR Regulations.

3. Ordinary Resolution: Approval for material related party transactions with new subsidiaries proposed to be incorporated/acquired for transfer of aerospace engineering services business under Section 188(1)(b) of the Companies Act, 2013 and Regulation 23 of SEBI LODR Regulations.

4. Special Resolution: Approval for divestment of shareholding in material subsidiaries proposed to be incorporated in India ("New India Co.") and acquired in Switzerland ("Overseas HoldCo") in two tranches.

5. Special Resolution: Approval for increase in limits applicable for making investments/extending loans and giving guarantees or providing securities under Section 186 of the Companies Act, 2013.

Voting Process and Methods

The voting was conducted exclusively through remote e-voting facilitated by KFin Technologies Limited. The voting period commenced on June 28, 2026, at 9:00 AM IST and ended on July 27, 2026, at 5:00 PM IST. Physical postal ballot forms were not sent to members in accordance with MCA Circulars.

Key Voting Outcomes

Resolution 1 (Special Resolution - Business Transfer)

  • Total Votes Cast: 28,382,521 shares (66.7337% of outstanding shares)
  • In Favor: 27,992,588 shares (98.6262%)
  • Against: 389,933 shares (1.3738%)
  • Promoter Group: 22,532,047 shares voted 100% in favor
  • Public Institutions: 843,076 shares voted (60.1732% turnout) - 53.8363% in favor, 46.1637% against
  • Public Non-Institutions: 5,007,398 shares voted (26.9246% turnout) - 99.9853% in favor, 0.0147% against
  • Result: Passed

Resolution 2 (Special Resolution - Aerospace Business Transfer)

  • Total Votes Cast: 28,382,521 shares (66.7337% of outstanding shares)
  • In Favor: 27,992,596 shares (98.6262%)
  • Against: 389,925 shares (1.3738%)
  • Promoter Group: 22,532,047 shares voted 100% in favor
  • Public Institutions: 843,076 shares voted (60.1732% turnout) - 53.8363% in favor, 46.1637% against
  • Public Non-Institutions: 5,007,398 shares voted (26.9246% turnout) - 99.9854% in favor, 0.0146% against
  • Result: Passed

Resolution 3 (Ordinary Resolution - Related Party Transactions)

  • Total Votes Cast: 3,700,474 shares (8.7007% of outstanding shares)
  • In Favor: 3,309,903 shares (89.4454%)
  • Against: 390,571 shares (10.5546%)
  • Promoter Group: 0 shares voted
  • Public Institutions: 843,076 shares voted (60.1732% turnout) - 53.8363% in favor, 46.1637% against
  • Public Non-Institutions: 2,857,398 shares voted (15.3641% turnout) - 99.9518% in favor, 0.0482% against
  • Result: Passed

Resolution 4 (Special Resolution - Divestment)

  • Total Votes Cast: 28,382,519 shares (66.7337% of outstanding shares)
  • In Favor: 27,991,957 shares (98.6239%)
  • Against: 390,562 shares (1.3761%)
  • Promoter Group: 22,532,047 shares voted 100% in favor
  • Public Institutions: 843,076 shares voted (60.1732% turnout) - 53.8363% in favor, 46.1637% against
  • Public Non-Institutions: 5,007,396 shares voted (26.9246% turnout) - 99.9727% in favor, 0.0273% against
  • Result: Passed

Resolution 5 (Special Resolution - Investment Limits)

  • Total Votes Cast: 28,384,405 shares (66.7382% of outstanding shares)
  • In Favor: 27,809,798 shares (97.9756%)
  • Against: 574,607 shares (2.0244%)
  • Promoter Group: 22,532,047 shares voted 100% in favor
  • Public Institutions: 843,076 shares voted (60.1732% turnout) - 31.9306% in favor, 68.0694% against
  • Public Non-Institutions: 5,009,282 shares voted (26.9347% turnout) - 99.9854% in favor, 0.0146% against
  • Result: Passed

Scrutinizer's Role and Findings

Biswajit Ghosh of BMP & Co. LLP was appointed as scrutinizer to scrutinize the postal ballot process in a fair and transparent manner. The scrutinizer confirmed that:

  • All votes cast through remote e-voting up to 5:00 PM IST on July 27, 2026 were considered
  • The electronic data was unblocked from the e-voting portal in the presence of two witnesses (Ms. Disha D and Ms. Ishika Basu)
  • No invalid votes were cast in any resolution
  • All resolutions were passed with requisite majority
  • For Resolutions 1 and 2, the number of votes cast in favor by public shareholders exceeded votes cast against
  • The electronic data and relevant records will be handed over to the Company Secretary for safekeeping

Compliance Confirmation

The process complied with:

  • Sections 110 and 108 of the Companies Act, 2013
  • Rule 22 and Rule 20 of the Companies (Management and Administration) Rules, 2014
  • Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • MCA Circulars including General Circular No. 14/2020, 17/2020, and 03/2025
  • SEBI circulars and Listing Regulations
  • Secretarial Standard on General Meetings (SS-2)

Additional Information

The voting results and scrutinizer's report are available on the company's website (https://www.axiscades.com/) and KFin Technologies Limited's website (https://evoting.kfintech.com/). The company's registered office is at Block C, Second Floor, Kirloskar Business Park, Bengaluru - 560024, Karnataka, India. CIN: L72200KA1990PLC084435.