Meeting Details

The process was conducted via a postal ballot with remote e-voting; there was no physical meeting. The Cut-off/Record date for determining shareholder eligibility to vote was set as 5th June, 2026. The total number of shareholders on the record date was 22,245.

Proposed Resolution and Implications

A single ordinary resolution was proposed:

  • Item 1: To consider and, if thought fit, to pass an ordinary resolution for the appointment of Mr. Mahtabuzzaman as a Nominee Director of the Company.

The company affirmed that Mr. Mahtabuzzaman is not barred from holding the office of director by virtue of any SEBI order or other authority.

Voting Process

The voting was conducted exclusively through a remote e-voting process; no physical ballot forms or polling were used. The e-voting services were provided by MUFG Intime India Private Limited. The remote e-voting period commenced at 9:00 a.m. IST on Monday, 15th June, 2026 and concluded at 5:00 p.m. IST on Tuesday, 14th July, 2026. The votes were unblocked on 14th July, 2026 at around 5:10 PM IST in the presence of two independent witnesses, CS Nikunj Kiri and Heet Zaveri.

Key Voting Outcomes

The ordinary resolution was passed by the members with the requisite majority.

Overall Voting Summary:

  • Total Number of Outstanding Shares: 12,570,692
  • Total Number of Votes Polled: 6,295,388
  • Percentage of Votes Polled on Outstanding Shares: 50.08%
  • Total Number of Votes in Favour: 6,295,204
  • Total Number of Votes Against: 184
  • Percentage of Votes in Favour on Votes Polled: 100.00%
  • Percentage of Votes Against on Votes Polled: 0.00%
  • Total Number of Folios that Voted: 102

Category-Wise Voting Breakdown:

  • Promoter and Promoter Group:
  • Shares Held: 6,474,659
  • Votes Polled: 5,358,682 (82.76% of shares held)
  • Votes in Favour: 5,358,682
  • Votes Against: 0
  • % in Favour: 100.00%
  • Public Institutions:
  • Shares Held: 1,116,713
  • Votes Polled: 894,444 (80.10% of shares held)
  • Votes in Favour: 894,444
  • Votes Against: 0
  • % in Favour: 100.00%
  • Public - Non-Institutions:
  • Shares Held: 4,979,320
  • Votes Polled: 42,262 (0.85% of shares held)
  • Votes in Favour: 42,078
  • Votes Against: 184
  • % in Favour: 99.56%
  • % Against: 0.44%

Scrutinizer's Role and Findings

Mr. Prashant Diwan, Practicing Company Secretary, was appointed as the Scrutinizer for the postal ballot process pursuant to Section 110 of the Companies Act, 2013 and relevant rules. His responsibilities included scrutinizing the entire remote e-voting process. The Scrutinizer's report confirms that the Notice of Postal Ballot was sent electronically to all eligible members on 12th June, 2026. He downloaded the results from the e-voting website in the presence of witnesses and maintained an electronic register of the votes cast. The Scrutinizer concluded the process was conducted properly and handed over all records to Mr. Ashwin Shroff, Chairman of the Company, for safe custody.

Compliance Statement

The company confirms that the entire process was conducted in compliance with Section 110 of the Companies Act, 2013, the Companies (Management and Administration) Rules, 2014, Regulation 44 of the SEBI (LODR) Regulations, 2015, and relevant MCA circulars.

Additional Information

The full voting results and the Scrutinizer's report have been made available on the company's website at www.excelind.co.in. Annexure 3 to the Scrutinizer's report provides a detailed register of all 102 shareholders who participated in the remote e-voting, including their folio numbers, names, and vote details.