Meeting Details
- The resolution was passed through a postal ballot process, not a physical meeting.
- The cut-off date for determining voting rights was July 31, 2026.
- The e-voting period commenced on Saturday, August 08, 2026 at 9:00 AM IST and ended on Sunday, September 06, 2026 at 5:00 PM IST.
- The resolution is deemed to have been passed on September 06, 2026.
Proposed Resolution and Implications
The special resolution sought shareholder approval for:
- Shifting of the Registered Office of the Company from the State of Karnataka to the State of Maharashtra
- Consequential amendment to the Memorandum of Association of the Company
- Promoter/Promoter Group were not interested in this resolution
Voting Process and Methods
The voting was conducted exclusively through remote e-voting facilitated by MUFG Intime India Private Limited at https://instavote.linkintime.co.in. No physical polling or postal ballot (paper) methods were used.
Key Voting Outcomes
Overall Voting Results
- Total number of shareholders on record date: 75,130
- Total outstanding shares: 32,026,654
- Total votes polled: 20,574,385 shares (64.2414% of outstanding shares)
- Votes in favor: 20,574,050 shares (99.9984% of votes polled)
- Votes against: 335 shares (0.0016% of votes polled)
- Resolution passed: Yes
Category-wise Breakdown
Promoter and Promoter Group:
- Shares held: 6,447,781
- Votes polled: 6,447,581 shares (99.9969% of shares held)
- Votes in favor: 6,447,581 shares (100.0000% of votes polled)
- Votes against: 0 shares (0.0000% of votes polled)
Public Institutions:
- Shares held: 15,684,714
- Votes polled: 13,238,753 shares (84.4054% of shares held)
- Votes in favor: 13,238,753 shares (100.0000% of votes polled)
- Votes against: 0 shares (0.0000% of votes polled)
Public Non-Institutions:
- Shares held: 9,894,159
- Votes polled: 888,051 shares (8.9755% of shares held)
- Votes in favor: 887,716 shares (99.9623% of votes polled)
- Votes against: 335 shares (0.0377% of votes polled)
Against Votes Detail
- 6 members voted against the resolution electronically
- Total against votes: 335 shares (0.0016% of total valid votes cast)
- No invalid votes were recorded
Scrutinizer's Role and Findings
Ananta R. Deshpande, Company Secretary in Practice (FCS: 11869, C.P. No: 20322), was appointed as Scrutinizer to oversee the postal ballot process. Key findings:
- The company dispatched the Postal Ballot Notice on August 7, 2026 via email to 75,130 members
- The e-voting process was conducted fairly and transparently
- The scrutinizer downloaded the e-voting summary statement from MUFG's platform
- All relevant records will remain in the scrutinizer's custody until minutes are approved
Compliance Confirmation
The process complied with:
- Section 108 and 110 of the Companies Act, 2013
- Rule 20 and 22 of the Companies (Management and Administration) Rules, 2014
- MCA General Circular Nos. 14/2020, 17/2020, and 03/2025
- Regulation 44(3) of SEBI (LODR) Regulations, 2015
- Secretarial Standard on General Meetings (SS-2)