Meeting Details

The EGM was held on 04th September, 2026, through Video Conferencing (VC) or Other Audio-Visual Means (OAVM) at 12:30 PM. The record date for determining shareholder eligibility to vote was 28th August 2026. On this date, there were 80,995 shareholders on record.

Shareholder Participation

A total of 48 shareholders attended the meeting via video conferencing, comprising 3 from the Promoter and Promoter Group and 45 from the Public. The document notes that physical attendance was 'Not Applicable', indicating the meeting was conducted entirely remotely.

Proposed Resolutions and Implications

Three special resolutions were considered and approved:

Resolution 1: Raising Funds via Foreign Currency Convertible Bonds (FCCBs)

This resolution sought shareholder approval to raise capital by issuing FCCBs, a instrument that converts into equity, potentially diluting existing ownership but providing foreign currency funding.

Resolution 2: Approval of Overall Borrowing Limits under Section 180(1)(c) of the Companies Act, 2013

This resolution authorizes the company to undertake borrowings beyond the paid-up capital and free reserves, up to a limit set by the shareholders, providing financial flexibility.

Resolution 3: Authorization to Create Charges on Properties under Section 180(1)(a) of the Companies Act, 2013

This resolution empowers the Board of Directors to mortgage or charge the company's movable and immovable properties as security for borrowings.

The document explicitly states that the Promoter and Promoter Group were not interested in any of these resolutions, meaning they did not have a conflicting personal interest in the outcomes.

Voting Process and Methods

Voting was conducted exclusively via remote e-voting. The e-voting window was open from 9:00 AM IST on Monday, 31st August 2026, to 5:00 PM IST on Thursday, 3rd September 2026. The process was managed by NSDL's e-voting system. No votes were cast through poll or postal ballot, as indicated by zeros or symbols (θ, Ω, 0) in those columns. The scrutinizer unblocked and counted the e-votes on the meeting day in the presence of two witnesses.

Key Voting Outcomes

Resolution 1: FCCB Issuance

  • Total Votes Cast: 67,847,291
  • Votes in Favor: 67,847,291 (99.82% of votes cast)
  • Votes Against: 123,953 (0.18% of votes cast)
  • Result: Passed

Category-wise Breakdown for Resolution 1:

  • Promoter & Promoter Group: Voted 6,554,507 shares (100% of their holding) entirely in favor.
  • Public - Institutions: Voted 213,351 shares (2.47% of their holding); 42.00% in favor, 57.9988% against.
  • Public - Non-Institutions: Voted 2,212,819 shares (4.687% of their holding); 99.9904% in favor, 0.0096% against.

Resolution 2: Borrowing Limits

  • Total Votes Cast: 67,847,279
  • Votes in Favor: 67,847,279 (99.82% of votes cast)
  • Votes Against: 123,956 (0.18% of votes cast)
  • Result: Passed

Category-wise Breakdown for Resolution 2:

  • Promoter & Promoter Group: Voted 6,554,507 shares (100% of their holding) entirely in favor.
  • Public - Institutions: Voted 213,351 shares (2.47% of their holding); 42.0012% in favor, 57.9988% against.
  • Public - Non-Institutions: Voted 2,212,810 shares (4.687% of their holding); 99.9903% in favor, 0.0097% against.

Resolution 3: Creation of Charges

  • Total Votes Cast: 67,847,239
  • Votes in Favor: 67,846,986 (99.8172% of votes cast)
  • Votes Against: 124,253 (0.1828% of votes cast)
  • Result: Passed

Category-wise Breakdown for Resolution 3:

  • Promoter & Promoter Group: Voted 6,554,507 shares (100% of their holding) entirely in favor.
  • Public - Institutions: Voted 213,351 shares (2.47% of their holding); 42.0012% in favor, 57.9988% against.
  • Public - Non-Institutions: Voted 2,212,814 shares (4.687% of their holding); 99.9769% in favor, 0.0231% against.

Overall, 55.9932% of the total outstanding shares were voted.

Scrutinizer's Report

Jaymin Modi of Jaymin Modi & Co., Company Secretaries, was appointed as the Scrutinizer. His report confirms:

  • The e-voting process was conducted fairly and in accordance with Section 108 of the Companies Act, 2013, Rule 20 of the Companies (Management and Administration) Rules, 2014, and SEBI LODR Regulation 44.
  • The notice of the EGM was sent electronically to all members with registered email addresses.
  • The voting rights were based on the record date of 28th August 2026.
  • The votes were unblocked and counted on 4th September 2026 in the presence of witnesses.
  • There were no invalid votes for any resolution.
  • All three special resolutions were passed with the requisite majority.
  • All electronic voting records will remain in the Scrutinizer's custody until the meeting minutes are signed by the Chairman, after which they will be handed over for safekeeping.

Compliance Confirmation

The document and the scrutinizer's report confirm compliance with the Companies Act, 2013, its associated rules, and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results have been communicated to the stock exchanges and are also available on the company's website at https://www.baluindustries.com/shareholders-information.php.