Key Quantitative Figures

  • Total number of shareholders on record date: 5,312
  • Total number of resolutions passed: 5
  • Total shares outstanding: 4,17,76,943
  • Promoter and Promoter Group shares: 2,60,00,949
  • Public Non-Institutions shares: 1,57,75,994
  • Public Institutions shares: 0

Dates of Action

  • Record date: June 26, 2026
  • Postal ballot e-voting period: July 04, 2026 (9:00 AM) to August 02, 2026 (5:00 PM)
  • Scrutinizer appointment date: June 07, 2026
  • Report issuance date: August 04, 2026

Parties Involved

  • Scrutinizer: Kirti Sharma of Kirti Sharma & Associates (Practicing Company Secretary)
  • Service Provider: Central Depository Services (India) Limited (CDSL)
  • Related Party: SMCV Management Services Private Limited
  • Individuals: Dr. Charudatta Palwe (DIN: 00532670), Mr. Sai Manik Sud (DIN: 11741274)
  • Company Secretary: Ebrahim Nimuchwala

Resolution Details

Resolution 1: Increase Authorized Share Capital

  • Type: Ordinary Resolution
  • Promoter interest: No
  • Total votes polled: 2,68,25,811 (64.212% of outstanding shares)
  • Votes in favor: 2,68,19,629 (99.977%)
  • Votes against: 6,182 (0.023%)
  • Result: Passed

Resolution 2: Related Party Transactions with SMCV Management Services

  • Type: Ordinary Resolution
  • Promoter interest: Yes
  • Total votes polled: 1,79,86,055 (43.0526% of outstanding shares)
  • Votes in favor: 1,79,70,873 (99.9156%)
  • Votes against: 15,182 (0.0844%)
  • Result: Passed

Resolution 3: Regularization of Mr. Sai Manik Sud as Independent Director

  • Type: Special Resolution
  • Promoter interest: No
  • Total votes polled: 2,68,16,811 (64.1905% of outstanding shares)
  • Votes in favor: 2,68,10,629 (99.9769%)
  • Votes against: 6,182 (0.0231%)
  • Result: Passed

Resolution 4: Regularization of Dr. Charudatta Palwe as Independent Director

  • Type: Special Resolution
  • Promoter interest: No
  • Total votes polled: 2,68,16,811 (64.1905% of outstanding shares)
  • Votes in favor: 2,68,10,629 (99.9769%)
  • Votes against: 6,182 (0.0231%)
  • Result: Passed

Resolution 5: Conversion of Promoter Loans to Equity

  • Type: Special Resolution
  • Promoter interest: Yes
  • Total votes polled: 1,79,86,054 (43.0526% of outstanding shares)
  • Votes in favor: 1,79,70,872 (99.9156%)
  • Votes against: 15,182 (0.0844%)
  • Result: Passed

Invalid Votes Details

  • Promoter and Promoter Group: 6,40,000 votes invalid across all resolutions
  • Public Institutions: 0 invalid votes
  • Public Non-Institutions: Invalid votes noted but not quantified

Scrutinizer's Report Key Findings

  • 80 shareholders participated in the e-voting process
  • The e-voting was conducted through CDSL's platform (https://www.evotingindia.com)
  • Advertisement was published in Financial Express (English) and Navarashtra (Marathi) on July 4, 2026
  • Invalid votes of 6,40,000 were due to technical difficulties with share transfers that were pending credit to transferee accounts despite off-market transactions occurring between June 2025 and November 2025
  • All resolutions were passed with requisite majority
  • The scrutinizer confirmed compliance with Rule 22 of the Companies (Management and Administration) Rules, 2014

Voting Participation

  • Total shareholders who voted: 80
  • Only e-voting method was used (no physical postal ballot forms)
  • No shareholders attended through video conferencing

Financial Impact

Financial impact not quantified in the disclosure, but the resolutions authorize significant corporate actions including capital increase and debt-to-equity conversion.

Capital Structure Impact

The resolutions authorize changes to the company's capital structure through increased authorized share capital and conversion of promoter loans into equity shares, which may result in dilution of existing shareholders.