Meeting Details
- Type of Meeting: Postal Ballot conducted through electronic means (e-voting)
- Cut-off Date: Friday, September 25, 2026
- E-voting Period: Thursday, October 1, 2026 at 9:00 AM IST to Friday, October 30, 2026 at 5:00 PM IST
- Total Shareholders on Record Date: 9,517
Proposed Resolutions and Implications
1. Resolution No. 1: Approval for sub-division/split of existing equity shares from face value of Rs. 5/- each to Rs. 2/- each
2. Resolution No. 2: Consequent alteration of Clause V (Capital Clause) of the Memorandum of Association of the Company
Voting Process and Methods
The voting was conducted exclusively through remote e-voting via National Securities Depository Limited (NSDL) platform (www.evoting.nsdl.com). No physical ballot papers were used. The notice was sent only electronically to members whose email addresses were registered with the company/depositories as of the cut-off date. An advertisement about the postal ballot was published in The Indian Express (English) and The Financial Express (Gujarati) on Tuesday, September 29, 2026.
Key Voting Outcomes
Resolution No. 1 - Share Sub-division/Split
- Total Valid Votes: 33,929,429
- Votes in Favor: 33,912,327 (99.95%)
- Votes Against: 17,102 (0.05%)
- Total Voters: 38 shareholders
Resolution No. 2 - MoA Alteration
- Total Valid Votes: 33,929,429
- Votes in Favor: 33,912,327 (99.95%)
- Votes Against: 17,102 (0.05%)
- Total Voters: 38 shareholders
Participation Breakdown by Shareholder Category
Resolution No. 1
Promoter and Promoter Group
- Shares Held: 33,818,510
- Votes Polled: 33,818,510 (100% of holdings)
- Votes in Favor: 33,818,510 (100%)
- Votes Against: 0 (0%)
Public - Non-Institutions
- Shares Held: 290,767
- Votes Polled: 290,767 (100% of holdings)
- Votes in Favor: 273,665 (94.1183%)
- Votes Against: 17,102 (5.8817%)
Public - Institutions
- Shares Held: 0
- Votes Polled: 0
- Votes in Favor: 0
- Votes Against: 0
Resolution No. 2
Promoter and Promoter Group
- Shares Held: 33,818,510
- Votes Polled: 33,818,510 (100% of holdings)
- Votes in Favor: 33,818,510 (100%)
- Votes Against: 0 (0%)
Public - Non-Institutions
- Shares Held: 290,767
- Votes Polled: 290,767 (100% of holdings)
- Votes in Favor: 273,665 (94.1183%)
- Votes Against: 17,102 (5.8817%)
Public - Institutions
- Shares Held: 0
- Votes Polled: 0
- Votes in Favor: 0
- Votes Against: 0
Invalid Votes
- Total Invalid Votes: 179,848
- Reason: Corporate bodies did not provide resolution to vote
- Category: All invalid votes were from Public - Non-Institutions category
Scrutinizer's Role and Findings
Tapan Shah, Company Secretary in Practice (CP No.: 2839, FCS: 4476), was appointed as Scrutinizer by the Board of Directors on September 25, 2026. His responsibilities included:
- Scrutinizing the e-voting process in a fair and transparent manner
- Verifying data and reports generated from NSDL's voting system
- Preparing the Scrutinizer's Report based on votes cast until the closing time
The vote unblocking process was witnessed by two independent witnesses: Ms. Saniya Vadavariya and Ms. Sakshi Chechani, who are not employed by the company or NSDL.
Compliance with Laws and Regulations
The voting process complied with:
- Section 110 read with Section 108 of the Companies Act, 2013
- Rule 20 and 22 of Companies (Management and Administration) Rules, 2014
- Regulation 44 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015
- Secretarial Standard on General Meetings issued by ICSI
- MCA Circulars: 14/2020, 17/2020, 22/2020, 33/2020, 39/2020, 10/2021, 20/2021, 3/2022, and 03/2025