Magadh Sugar & Energy Limited has disclosed the results of a postal ballot process conducted to seek shareholder approval for the appointment of a new independent director.

Resolution Details

The postal ballot sought approval for one special resolution: Appointment of Lieutenant General Rakesh Kapoor (Retd.) (DIN: 11763655) as a Non-Executive Independent Director of the Company for a term of 5 consecutive years with effect from August 4, 2026 up to August 3, 2031 (both days inclusive).

Voting Process and Timeline

  • Cut-off date for determining eligible shareholders: August 14, 2026
  • Total number of shareholders on record date: 12,495
  • Remote e-voting period: August 25, 2026 (9:00 AM IST) to September 23, 2026 (5:00 PM IST)
  • E-voting facility provided by: National Securities Depository Limited (NSDL)
  • Scrutinizer: Mr. Mohan Ram Goenka, Practicing Company Secretary (FCS No. 4515, CP No. 2551)
  • Scrutinizer appointed at Board Meeting dated: August 4, 2026
  • Scrutinizer's report issued: September 23, 2026

Voting Results

The special resolution was approved with requisite majority and deemed passed on September 23, 2026.

Overall Voting Results:

  • Total votes cast: 9,602,643 shares
  • Percentage of outstanding shares voted: 68.1443%
  • Votes in favor: 9,602,333 shares (99.9968% of votes cast)
  • Votes against: 310 shares (0.0032% of votes cast)
  • Invalid/Abstain: None

Category-wise Breakdown:

Promoter and Promoter Group:

  • Shares held: 8,598,482
  • Votes cast: 8,598,482 (100% of holdings)
  • Votes in favor: 8,598,482 (100%)
  • Votes against: 0 (0%)

Public Institutions:

  • Shares held: 13,755
  • Votes cast: 6,911 (50.2435% of holdings)
  • Votes in favor: 6,911 (100%)
  • Votes against: 0 (0%)

Public Non-Institutions:

  • Shares held: 5,479,393
  • Votes cast: 997,250 (18.2% of holdings)
  • Votes in favor: 996,940 (99.9689% of votes cast)
  • Votes against: 310 (0.0311% of votes cast)

Document Availability

The voting results along with the scrutinizer's report are available on:

  • Company's website: www.magadhsugar.com
  • NSDL website: www.evoting.nsdl.com
  • Displayed on the notice board at the Registered Office of the Company