Meeting Details

  • Date: Tuesday, 29th September 2026
  • Time: 04:00 PM to 04:35 PM (IST)
  • Location: Conducted through Video Conferencing (VC)/Other Audio Visual Means (OAVM)
  • Type: 15th Annual General Meeting
  • Deemed Venue: 602, Avior, Nirmal Galaxy, Opp. Johnson & Johnson, LBS Marg, Mulund (West), Mumbai, Maharashtra - 400 080

Proposed Resolutions and Implications

Five resolutions were proposed for shareholder approval:

1. Ordinary Resolution: Adoption of Audited Standalone and Consolidated Financial Statements for FY 2025-26

2. Ordinary Resolution: Re-appointment of Mr. Harshad Uttamchand Shah (DIN: 07849186) as Director

3. Special Resolution: Appointment of Mr. Hirenkumar Rasiklal Shah (DIN: 00092739) as Managing Director for 5 years

4. Ordinary Resolution: Increase in authorized share capital and alteration of Memorandum of Association

5. Special Resolution: Issuance of equity shares on preferential basis via share swap arrangement

Voting Process and Methods

The voting was conducted through two methods:

  • Remote e-voting: Available from 26th September 2026 (9:00 AM) to 28th September 2026 (5:00 PM) through KFin Technologies Limited
  • E-voting during AGM: Conducted for members who attended the meeting but hadn't voted remotely

Advertisements were published in Financial Express (English) and Lakshadeep (Marathi) on 3rd and 8th September 2026 respectively.

Key Voting Outcomes

Overall Participation

  • Total equity shares: 8,52,30,000
  • Total votes cast: 6,12,96,637 (71.9191% of total equity)
  • Total shareholders on record: 66,017

Resolution-wise Results

Resolution 1 (Ordinary - Financial Statements)

  • Votes in favor: 6,12,96,280 (99.9994%)
  • Votes against: 357 (0.0006%)

Resolution 2 (Ordinary - Director Re-appointment)

  • Votes in favor: 6,12,92,959 (99.9940%)
  • Votes against: 3,678 (0.0060%)

Resolution 3 (Special - MD Appointment)

Note: 49,474,096 shares (6 beneficial owners) excluded as interested parties

  • Votes in favor: 1,18,18,863 (99.9689% of valid votes)
  • Votes against: 3,678 (0.0311% of valid votes)

Resolution 4 (Ordinary - Capital Increase)

  • Votes in favor: 6,12,93,059 (99.9942%)
  • Votes against: 3,578 (0.0058%)

Resolution 5 (Special - Preferential Issue)

  • Votes in favor: 6,12,93,059 (99.9942%)
  • Votes against: 3,578 (0.0058%)

Category-wise Voting Breakdown

Promoter & Promoter Group

  • Total shares held: 5,52,33,242
  • Votes cast: 5,52,33,130 (99.9998%)
  • 100% voted in favor of all resolutions

Public Institutions

  • Total shares held: 14,09,862
  • Votes cast: 12 (0.0009%)
  • 100% voted in favor of all resolutions

Public Non-Institutions

  • Total shares held: 2,85,86,896
  • Votes cast: 60,63,495 (21.2107%)
  • Majority voted in favor, with small opposition (357-3,678 votes across resolutions)

Scrutinizer's Role and Findings

Mr. Umashankar Hegde, Proprietor of M/s. U. Hegde & Associates, Practicing Company Secretaries, was appointed as scrutinizer. He verified that:

  • All resolutions passed with requisite majority
  • Voting process complied with Companies Act 2013 and SEBI regulations
  • The electronic voting system was secure and properly administered
  • 8 demat accounts (49,474,096 shares) were excluded from Resolution 3 as interested parties

Compliance Confirmation

The company confirmed compliance with:

  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Companies Act, 2013
  • Companies (Management and Administration) Rules, 2014
  • Secretarial Standard on General Meetings (SS-2)
  • MCA Circulars regarding virtual meetings

Additional Information

The scrutinizer's report and voting results were uploaded on the company website (www.vertoz.com) and KFin Technologies website (https://evoting.kfintech.com). The meeting concluded at 4:35 PM IST after 35 minutes, including 15 minutes of e-voting after the proceedings.