Meeting Details

The voting was conducted via postal ballot through remote electronic voting (e-voting) without a physical meeting. The e-voting process was managed by National Securities Depository Limited (NSDL). The remote e-voting commenced at 9:00 AM on May 7, 2026, and ended at 5:00 PM on June 5, 2026. The cut-off date for determining shareholder eligibility was May 1, 2026. Public notices were published in Financial Express (English) and Loksatta (vernacular) on May 6, 2026, regarding the dispatch of postal ballot notices.

Proposed Resolutions and Implications

Shareholders voted on six resolutions:

Special Resolutions:

1. Re-appointment of Mr. Anand Chalwade (DIN: 02008372) as Managing Director of the Company

2. Appointment of Dr. Prakash Vaidya (DIN: 11668158) as Independent Director

Ordinary Resolutions:

3. Approval of Material Related Party Transaction with MINVEN Solar 01 Private Limited

4. Approval of Material Related Party Transaction with MINVEN Solar 02 Private Limited

5. Approval of Material Related Party Transaction with MINVEN Solar 03 Private Limited

6. Appointment of Mr. Sanjay Ballal Phadke (DIN: 07111186) as Non-Executive Non-Independent Director

The promoter/promoter group was not interested in any of the resolutions.

Voting Process and Methods

The voting was conducted exclusively through remote e-voting facilitated by NSDL. No physical polling or postal ballot (paper) methods were used. The e-voting data was unblocked and downloaded from the NSDL e-voting website at 5:02 PM on June 5, 2026, in the presence of two witnesses not employed by the company.

Key Voting Outcomes

All six resolutions received unanimous approval with 100% votes in favor:

Overall Voting Statistics:

  • Total votes cast: 11,948,445
  • Percentage of outstanding shares voted: 68.59%
  • Total shares outstanding: 17,418,418
  • Number of members who voted: 43
  • Zero votes against all resolutions
  • Zero invalid votes across all resolutions

Category-wise Voting Breakdown (from Annexures):

Public Institutions Holders:

  • Shares held: 4,382,125
  • Votes polled: 3,154,030 (71.97% of category holdings)
  • 100% votes in favor across all resolutions

Public Non-Institutions Holders:

  • Shares held: 13,036,293
  • Votes polled: 8,794,415 (67.46% of category holdings)
  • 100% votes in favor across all resolutions

Promoter and Promoter Group:

  • No votes were cast from this category (0 shares voted)

Scrutinizer's Role and Findings

Shikha Rai, Partner of M/s Mamta Binani and Associates, Practicing Company Secretaries, was appointed as scrutinizer by the Board of Directors on April 29, 2026. The scrutinizer confirmed that:

  • The e-voting process was conducted in a fair and transparent manner
  • Compliance with provisions of the Companies Act, 2013 and SEBI LODR Regulations is the management's responsibility
  • The scrutinizer's role was to ensure fair process and report vote counts
  • All resolutions were passed with 100% affirmative votes

Compliance Confirmation

The document confirms compliance with:

  • Sections 108 & 110 of the Companies Act, 2013
  • Rule 20 and 22 of the Companies (Management and Administration) Rules, 2014
  • Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • All applicable provisions, rules, regulations, guidelines, circulars, and notifications

Additional Information

  • Company CIN: L74140PN1982PLC026933
  • Company Address: Kubera Chambers, Shivaji Nagar, Pune, Maharashtra, India, 411005
  • Scrutinizer Firm Address: 2nd Floor, Nicco House, 2 Hare Street, Kolkata-700001
  • All resolutions received identical voting patterns across all shareholder categories