Meeting Details

The voting was conducted entirely through remote e-voting (postal ballot) without a physical meeting. The deemed approval date was Tuesday, June 23, 2026, which was the last date of the remote e-voting period.

Proposed Resolutions and Implications

Two special resolutions were proposed:

1. Appointment of Ms. Sonali Rajesh Mehta (DIN: 11485935) as an Independent Director of the Company.

2. Re-appointment of Ms. Monika Garware (DIN: 00143400) as Vice-Chairperson and Joint Managing Director of the Company, including authorization for payment of minimum remuneration in case of inadequacy of profits.

Voting Process and Methods

The voting was conducted exclusively through remote e-voting via the platform provided by National Securities Depository Limited (NSDL). The e-voting period commenced on Monday, May 25, 2026, at 9:00 AM IST and ended on Tuesday, June 23, 2026, at 5:00 PM IST. The company had 55,521 shareholders as of the cutoff date (May 19, 2026).

Key Voting Outcomes

Resolution 1: Appointment of Ms. Sonali Rajesh Mehta

  • Total valid votes cast: 16,111,674 (69.35% of outstanding shares)
  • Votes in favor: 16,111,058 (99.9962% of votes polled)
  • Votes against: 616 (0.0038% of votes polled)
  • Invalid votes: 0

Resolution 2: Re-appointment of Ms. Monika Garware

  • Total valid votes cast: 15,842,459 (68.1912% of outstanding shares)
  • Votes in favor: 15,841,667 (99.9950% of votes polled)
  • Votes against: 792 (0.0050% of votes polled)
  • Invalid votes: 0

Participation Breakdown by Shareholder Category

Resolution 1:

  • Promoters & Promoter Group: 14,105,972 shares voted (100% of holdings), 100% in favor
  • Public Institutions: 1,782,181 shares voted (78.57% of holdings), 99.9879% in favor
  • Public Non-Institutions: 223,521 shares voted (3.26% of holdings), 99.8210% in favor

Resolution 2:

  • Promoters & Promoter Group: 13,838,468 shares voted (98.10% of holdings), 100% in favor
  • Public Institutions: 1,782,181 shares voted (78.57% of holdings), 99.9767% in favor
  • Public Non-Institutions: 221,810 shares voted (3.23% of holdings), 99.8300% in favor

Scrutinizer's Role and Findings

Mr. Mannish L. Ghia (Membership No. FCS: 6252 and CP No. 3531), Partner of M/s. Manish Ghia & Associates, was appointed as Scrutinizer. His responsibilities included:

  • Scrutinizing the remote e-voting process in a fair and transparent manner
  • Verifying votes cast for and against each resolution
  • Matching shareholding data with the Register of Members/beneficiaries as of May 19, 2026
  • Submitting the final report to the Chairman

The scrutinizer confirmed that both resolutions received votes in favor more than three times the votes against, meeting the requirement for special resolution approval.

Compliance with Laws and Regulations

The process complied with:

  • Section 110 of the Companies Act, 2013
  • Rules 20 and 22 of the Companies (Management and Administration) Rules, 2014
  • Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Multiple MCA Circulars dated between April 2020 and September 2025

The company dispatched the notice electronically on May 22, 2026, and published advertisements in The Indian Express (English) and Loksatta (Marathi) on May 23, 2026.