Meeting Details

The voting was conducted through postal ballot via remote e-voting only, without a physical meeting. The cut-off date for determining shareholder eligibility was Wednesday, September 30, 2026. The remote e-voting period commenced from Tuesday, October 6, 2026, at 09:00 a.m. (IST) and ended on Wednesday, November 4, 2026, at 05:00 p.m. (IST).

Proposed Resolutions and Implications

Four special resolutions were proposed:

1. Resolution 1: To approve the increase in the aggregate number of employee stock options and equity shares reserved under 'Bajaj Electricals Limited - Performance Stock Option Plan-2023'

2. Resolution 2: Revision of the remuneration of Mr. Shekhar Bajaj (DIN: 00089358), Executive Chairman of the Company

3. Resolution 3: Revision of the remuneration of Mr. Sanjay Sachdeva (DIN: 11017868), Managing Director & Chief Executive Officer of the Company

4. Resolution 4: Revision of the remuneration of Mrs. Pooja Anant Bajaj (DIN: 08254455), Whole-time Director (designated as 'Executive Director') of the Company

Voting Process and Methods

The voting was conducted exclusively through remote e-voting facilitated by MUFG Intime India Private Limited. No physical polling or postal ballot (paper) was conducted. The company published the notice in The Free Press Journal on Tuesday, October 6, 2026.

Key Voting Outcomes

Overall Participation

  • Total number of shareholders as on cut-off date: 89,269
  • Total outstanding shares: 115,423,636
  • Total votes polled: 97,662,077 shares (84.6119% participation)

Resolution-wise Results

Resolution 1: ESOP Plan Expansion

  • Total Votes: 97,662,077 shares (84.6119% of outstanding)
  • In Favor: 85,280,152 shares (87.3217% of votes polled)
  • Against: 12,381,925 shares (12.6783% of votes polled)
  • Category Breakdown:
  • Promoter & Promoter Group: 72,240,982 votes (100% in favor)
  • Public Institutions: 24,313,389 votes (49.1041% in favor, 50.8959% against)
  • Public Non-Institutions: 1,107,706 votes (99.3304% in favor, 0.6696% against)

Resolution 2: Shekhar Bajaj Remuneration

  • Total Votes: 97,662,075 shares (84.6119% of outstanding)
  • In Favor: 97,661,495 shares (99.9994% of votes polled)
  • Against: 580 shares (0.0006% of votes polled)
  • Category Breakdown:
  • Promoter & Promoter Group: 72,240,982 votes (100% in favor)
  • Public Institutions: 24,313,389 votes (100% in favor)
  • Public Non-Institutions: 1,107,704 votes (99.9476% in favor, 0.0524% against)

Resolution 3: Sanjay Sachdeva Remuneration

  • Total Votes: 97,662,069 shares (84.6118% of outstanding)
  • In Favor: 97,654,641 shares (99.9924% of votes polled)
  • Against: 7,428 shares (0.0076% of votes polled)
  • Category Breakdown:
  • Promoter & Promoter Group: 72,240,982 votes (100% in favor)
  • Public Institutions: 24,313,389 votes (100% in favor)
  • Public Non-Institutions: 1,107,698 votes (99.3294% in favor, 0.6706% against)

Resolution 4: Pooja Bajaj Remuneration

  • Total Votes: 97,662,069 shares (84.6118% of outstanding)
  • In Favor: 97,654,641 shares (99.9924% of votes polled)
  • Against: 7,428 shares (0.0076% of votes polled)
  • Category Breakdown:
  • Promoter & Promoter Group: 72,240,982 votes (100% in favor)
  • Public Institutions: 24,313,389 votes (100% in favor)
  • Public Non-Institutions: 1,107,698 votes (99.3294% in favor, 0.6706% against)

Scrutinizer's Role and Findings

Mr. Vaibhav Dandawate, Partner of Messrs Makarand M. Joshi & Co., Practising Company Secretaries, was appointed as Scrutinizer. His report confirmed:

  • All resolutions were passed with requisite majority
  • No invalid votes were cast
  • Voting rights on shares transferred to 'Unclaimed or Suspense or Escrow Account' and 'Investor Education and Protection Fund' were frozen
  • The votes cast did not include abstained votes
  • Promoter/promoter group were interested in Resolutions 2 and 4 only

Compliance with Regulations

The company confirmed compliance with:

  • Regulation 44(3) of SEBI Listing Regulations
  • Sections 108 and 110 of the Companies Act, 2013
  • Rules 20 and 22 of the Companies (Management and Administration) Rules, 2014
  • General Circular No. 03/2025 dated September 22, 2025
  • SEBI Master Circular No. SEBI/HO/AFD/AFD-PoD-2/P/CIR/2024/70 dated May 30, 2024
  • Secretarial Standard 2 on General Meetings