Meeting Details
The approval is sought through postal ballot only, without a physical meeting. The remote e-voting period commences at 9:00 AM IST on Thursday, October 1, 2026, and ends at 5:00 PM IST on Friday, October 30, 2026.
Proposed Resolutions and Implications
1. Approval for Sub-division/Split of Equity Shares
The company proposes an ordinary resolution to subdivide each existing equity share of face value ₹5/- into 2.5 equity shares of face value ₹2/- each. The subdivision aims to enhance liquidity and facilitate greater retail investor participation by making shares more affordable. The aggregate paid-up capital remains unchanged at ₹25,76,43,390, while the number of shares increases from 5,15,28,678 to 12,88,21,695. Fractional shares will be handled through aggregation, sale at market rates, and distribution of net proceeds to entitled members.
2. Approval for Alteration of Capital Clause
A consequential ordinary resolution seeks to alter Clause V of the Memorandum of Association to reflect the new capital structure: Authorized Share Capital of ₹50,00,00,000 divided into 17,50,00,000 equity shares of ₹2/- each and 1,50,00,000 Cumulative Redeemable Non-Convertible Preference Shares of ₹10/- each.
Voting Process and Methods
The company has engaged National Securities Depository Limited (NSDL) to provide remote e-voting facilities. Voting rights are determined based on shareholding as of the cut-off date Friday, September 25, 2026, with one vote per equity share. Members can vote electronically through multiple methods including:
- NSDL e-Voting website https://www.evoting.nsdl.com/
- Depository participants' login credentials
- NSDL Mobile App "NSDL Speede"
- CDSL Easi/Easiest facility for CDSL account holders
Key Voting Timeline and Outcome Declaration
- Cut-off date for eligibility: September 25, 2026
- E-voting period: October 1, 2026 (9:00 AM IST) to October 30, 2026 (5:00 PM IST)
- Results declaration: On or before Tuesday, November 3, 2026
- Results will be communicated to stock exchanges (NSE and BSE), depositories, registrar and share transfer agents, and displayed on the company's website
Scrutinizer Appointment and Role
Mr. Tapan Shah, Practicing Company Secretary (ICSI membership number: FCS 4476, certificate of practice number: 2839), has been appointed as Scrutinizer to conduct the postal ballot process in a fair and transparent manner. The Scrutinizer will submit his report to the Chairperson upon completion of vote scrutiny, and his decision on vote validity shall be final and binding.
Compliance with Regulations
The notice complies with:
- Section 110 of the Companies Act, 2013
- Rules 20 and 22 of the Companies (Management and Administration) Rules, 2014
- Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- MCA General Circular Nos. 14/2020, 17/2020, 19/2021, and 20/2021
- Secretarial Standard - 2 on General Meetings
Shareholder Support and Contact Information
Members can contact Ms. Pooja Khakhi, Company Secretary and Compliance Officer, at registered office address 188/2, Ranipur Village, Opp. CNI Church, Narol, Ahmedabad - 382 405, Gujarat, India (Email: cs@varveeglobal.com, Phone: +91-9879597904) for grievance resolution regarding remote e-voting.
Document Availability
The Postal Ballot Notice is available on the company's website at https://varveeglobal.com/investorrelations/. All material documents are available for inspection at the registered office during working hours until the last date of e-voting.