Meeting Details

The 40th Annual General Meeting was held on Wednesday, 30th September 2026 at 01:00 P.M. through Video Conferencing (VC) / Other Audio Visual Means (OAVM). The meeting commenced at 01:10 P.M. The record date for determining shareholders entitled to vote was Wednesday, 23rd September 2026, with 41,404 total shareholders on record.

Proposed Resolutions and Implications

Five resolutions were proposed for shareholder approval:

1. Ordinary Resolution: To receive, consider and adopt the Audited Standalone Financial Statements for the financial year ended 31st March 2026 together with the Directors' Report and Auditors' Report.

2. Ordinary Resolution: To appoint Mr. Rachna Suman Shaw (DIN: 10414115) as a Director who retires by rotation under Section 152(6) of the Companies Act, 2013.

3. Ordinary Resolution: To appoint M/s. Sarang Shivajirao Chavan and Associates, Chartered Accountants, Ahmedabad as Statutory Auditors for a term of 5 years until the conclusion of the 45th AGM in 2031.

4. Ordinary Resolution: To approve existing as well as new material related party transactions pursuant to Regulation 23 of the SEBI (LODR) Regulations, 2015.

5. Special Resolution: Alteration of the Object Clause of the Memorandum of Association pursuant to Section 13 of the Companies Act, 2013.

Voting Process and Methods

The voting was conducted through two methods:

  • Remote e-voting: Provided by National Securities Depository Limited (NSDL) with EVEN: 143015, open from Sunday, 27th September 2026 at 09:00 a.m. to Tuesday, 29th September 2026 at 05:00 p.m.
  • E-voting at AGM: Available for members present through VC/OAVM who had not cast votes through remote e-voting.

The scrutinizer unblocked and consolidated votes from both methods on 30th September 2026 in the presence of two witnesses: Hayal Gajjar and Mansi Panchal.

Key Voting Outcomes

Overall Participation:

  • Total shares outstanding: 168,593,350
  • Total valid votes cast: 66,883,615 (39.69% of outstanding shares)
  • No shareholders attended physically; 39 attended via video conference (1 Promoter/Promoter Group, 38 Public)

Resolution-wise Results:

Resolution 1 (Adoption of Financial Statements):

  • Votes in favor: 72,777,608 (99.99% of votes cast)
  • Votes against: 4,973 (0.01% of votes cast)
  • Invalid votes: 0

Resolution 2 (Director Reappointment):

  • Votes in favor: 72,777,548 (99.99% of votes cast)
  • Votes against: 5,073 (0.01% of votes cast)
  • Invalid votes: 0

Resolution 3 (Auditor Appointment):

  • Votes in favor: 72,777,647 (99.99% of votes cast)
  • Votes against: 4,974 (0.01% of votes cast)
  • Invalid votes: 0

Resolution 4 (Related Party Transactions):

  • Votes in favor: 66,878,642 (99.99% of valid votes)
  • Votes against: 4,973 (0.01% of valid votes)
  • Invalid votes: 5,899,006 (8.82% of total votes) - comprising votes from Mrs. Rachna Suman Shaw (5,890,031 shares) and Mr. Shreeram Bagla (8,975 shares) treated as invalid per Regulation 23(4) of SEBI LODR
  • Total valid votes for computation: 66,883,615

Resolution 5 (MOA Alteration):

  • Votes in favor: 72,777,648 (99.99% of votes cast)
  • Votes against: 4,973 (0.01% of votes cast)
  • Invalid votes: 0

Participation by Category:

  • Promoter and Promoter Group: 5,899,006 votes cast (16.90% of shares held)
  • Public Institutions: 0 votes cast
  • Non-Institution Public: 66,883,615 votes cast (50.03% of shares held)

Scrutinizer's Role and Findings

Nikhil Suchak & Associates served as the scrutinizer pursuant to Sections 108 and 109 of the Companies Act, 2013 and Rules 20 and 21 of the Companies (Management and Administration) Rules, 2014. Key findings:

  • No member voted through both remote e-voting and at the AGM
  • All votes were valid except for related party votes on Resolution 4
  • The vote of Sheza Corporate Advisors was counted based on proper authorization
  • Electronic register maintained recording shareholder particulars
  • All resolutions passed with requisite majority

Compliance Confirmation

The process complied with:

  • Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Sections 108 and 109 of the Companies Act, 2013
  • Rules 20 and 21 of the Companies (Management and Administration) Rules, 2014
  • Regulation 23(4) of SEBI LODR for related party transaction voting