Meeting Details

  • Meeting Type: 01/2026-27 Extraordinary General Meeting (EGM) of 'A' Equity Shareholders
  • Date: Monday, 26th October, 2026
  • Time: 03:00 P.M. (IST)
  • Location: Conducted through Video Conferencing (VC)/Other Audio-Visual Means (OAVM). The deemed venue is the Registered Office of the Company at Mumbai-Pune Road, Akurdi, Pune - 411 035.

Proposed Resolutions and Implications

A single Special Resolution is proposed for consideration:

"RESOLVED THAT..." consent of the shareholders be accorded for:

1. Variation in the terms and conditions and removal of all restrictions on transferability and other incidental conditions on 'A' Equity Shares, pursuant to Section 48 of the Companies Act, 2013 and SEBI LODR Regulations.

2. Removal of all restrictions effective from the date of the EGM for 27,600 'A' Equity Shares.

3. Cancellation of all previously associated terms and conditions, and the omission of the alphabet 'A' from the name of these shares.

4. Making the shares freely transferable as per Section 58 of the Act, subject to listing and trading approval from BSE and NSE.

5. The shares ranking pari passu with existing listed equity shares upon listing.

6. Authorizing the Board of Directors to execute all necessary deeds, documents, and filings with the Registrar of Companies, Pune, Stock Exchanges, SEBI, and other authorities to implement the resolution.

The shares in question are currently not listed on BSE (Scrip Code: 500033) or NSE (Symbol: FORCEMOT), where the company's other equity shares are listed and traded.

Voting Process

  • Remote e-Voting Period: Begins on Thursday, 22nd October 2026 at 9:00 A.M. (IST) and ends on Sunday, 25th October 2026 at 5:00 P.M. (IST).
  • Cut-off Date for Voting Rights: Monday, 19th October 2026. Voting rights are proportional to the shareholding as of this date.
  • Voting Methods: Remote e-Voting via the NSDL platform (www.evoting.nsdl.com) and e-Voting during the EGM for those who have not voted remotely.
  • Scrutinizer: Mr. Parag Pansare, Chartered Accountant, has been appointed to scrutinize the entire e-Voting process in a fair and transparent manner.
  • Result Declaration: The Scrutinizer will submit a Consolidated Scrutinizer's Report to the Chairman within two working days of the EGM conclusion. The results will be declared forthwith, placed on the company's website (www.forcemotors.com), NSDL's website (www.evoting.nsdl.com), and forwarded to the stock exchanges.

Historical Context and Explanatory Statement

The 27,600 'A' Equity Shares were originally issued to permanent employees of the company pursuant to a special resolution passed in an EGM on 18th February 1976 under Section 81(I-A) of the Companies Act, 1956. An initial offer of 21,674 shares was made, but applications were received for only 13,800 shares. Subsequently, a bonus issue of 13,800 shares was approved in an AGM on 31st March 1978 and allotted on 13th May 1978, bringing the total to 27,600 shares.

These shares were issued with stringent conditions, including:

(i) A complete ban on sale, transfer, hypothecation, pledge, or mortgage for five years from allotment.

(ii) After five years, transfer was permitted only to other permanent employees of the company, not to anyone else.

(iii) These conditions applied even if the employee ceased to be in the service of the company.

The company states that the proposal to remove these restrictions is primarily for the benefit of the current middle-class shareholders/legal heirs who hold these physically held shares and face illiquidity, and that the company itself will not benefit from this action. The company has made several representations to SEBI and MCA over the years for this deregistration.

Compliance and Authorities

  • The meeting is conducted in accordance with MCA General Circular No. 03/2025 dated 22nd September 2025 and relevant SEBI circulars, allowing EGMs through VC/OAVM without physical presence.
  • The notice has been dispatched electronically to members whose email addresses are registered with the company/RTA (MUFG Intime India Private Limited). For members without registered emails, a physical letter with a weblink to the notice has been sent.
  • The notice is available on the company's website (www.forcemotors.com), BSE website (www.bseindia.com), NSE website (www.nseindia.com), and NSDL's e-Voting website (www.evoting.nsdl.com).

Signatories and Contact Information

  • Company Secretary & Compliance Officer: Mr. Rohan Sampat (Membership No.: F14037)
  • Scrutinizer: Mr. Parag Pansare, Chartered Accountant
  • RTA: MUFG Intime India Private Limited (formerly Link Intime India Private Limited)
  • For e-Voting login assistance or grievances, members can contact NSDL at evoting@nsdl.com or 022-48867000, or the company at compliance-officer@forcemotors.com.
  • For updating email addresses for physical shareholders, contact the RTA at investor.helpdesk@in.mpms.mufg.com.