Meeting Details

  • Date: November 13, 2026
  • Type: NCLT Convened Meeting of Equity Shareholders
  • Location: Conducted through video conferencing/other audio-visual means
  • Time: 10:30 AM

Proposed Resolution and Implications

The resolution sought approval for the Scheme of Amalgamation under Sections 230-232 of the Companies Act, 2013, which involves the complete amalgamation of Kothari Sugars and Chemicals Limited into Kothari Petrochemicals Limited, including transfer of all assets and liabilities to the transferee company.

Voting Process and Methods

  • Remote e-voting period: November 10, 2026 (9:00 AM) to November 12, 2026 (5:00 PM) through CDSL
  • E-voting at meeting: Available for 30 minutes after meeting conclusion on November 13, 2026
  • Cut-off date for shareholder eligibility: November 06, 2026
  • Total shareholders on record date: 62,422
  • Meeting attendance: 49 shareholders virtually (4 promoter group, 45 public)

Key Voting Outcomes

Overall Voting Results (Including Promoters):

  • Total votes cast: 62,168,545 shares (99.999% in favor)
  • Shareholder approval: 80 shareholders (94.12%) in favor, 5 shareholders (5.88%) against
  • Value-wise approval: 99.999% in favor, 0.001% against
  • Invalid votes: 0

Public Shareholder Voting Results (Excluding Promoters):

  • Total votes cast: 1,221,549 shares
  • Votes in favor: 1,220,945 shares (99.9505%)
  • Votes against: 604 shares (0.0495%)
  • Shareholder approval: 76 public shareholders (93.83%) in favor, 5 public shareholders (6.17%) against

Category-wise Breakdown:

Promoter & Promoter Group:

  • Shares held: 60,947,600
  • Votes cast: 60,947,600 (100% participation)
  • 100% votes in favor (60,947,600 shares)

Public Institutions:

  • Shares held: 484,816
  • Votes cast: 473,706 (97.71% participation)
  • 100% votes in favor (473,706 shares)

Public Non-Institutions:

  • Shares held: 21,456,164
  • Votes cast: 747,843 (3.49% participation)
  • Votes in favor: 747,239 shares (99.92%)
  • Votes against: 604 shares (0.08%)

Scrutinizer's Role and Findings

Mr. Biswarup Acharya, Advocate (Enrollment No: O-418/09.05.2009), was appointed as Scrutinizer by NCLT order dated September 30, 2026. He certified that:

  • The resolution was approved by majority of shareholders representing three-fourth in value as required under Sections 230-232 of Companies Act 2013
  • Public shareholder votes in favor (1,220,945) exceeded votes against (604) as required by SEBI Master Circular
  • The voting process was conducted fairly and transparently through CDSL
  • All electronic records were handed over to the company secretary for safekeeping