Meeting Details
The approval was sought through a postal ballot process without a physical meeting. The e-voting period commenced at 9:00 a.m. IST on Tuesday, July 14, 2026, and concluded at 5:00 p.m. IST on Wednesday, August 12, 2026. The cut-off date for determining shareholder eligibility to vote was Friday, July 10, 2026.
Proposed Resolutions and Implications
The single resolution proposed sought approval for:
- Sub-division/split of equity shares of the company
- Consequent alteration of the Capital Clause of the Memorandum of Association of the company
This constitutes an ordinary resolution requiring shareholder approval to change the company's capital structure and governing documents.
Voting Process and Methods
The voting was conducted exclusively through electronic means (e-voting) as permitted by MCA Circulars. The company engaged MUFG Intime India Private Limited (formerly Link Intime India Private Limited) to provide the e-voting platform accessible at https://instavote.linkintime.co.in. No physical polling or postal ballot forms were used. The notice was sent electronically to members whose email addresses were registered with the company/RTA/depositories, and an advertisement was published in Business Standard (English) and Navshakti (Marathi) on July 14, 2026.
Key Voting Outcomes
Overall Results:
- Total votes cast: 69,836,697 shares
- Percentage of outstanding shares voted: 96.47%
- Votes in favor: 69,836,595 shares (99.9999% of valid votes)
- Votes against: 102 shares (0.0001% of valid votes)
- Invalid votes: 0
Category-wise Breakdown:
Promoter and Promoter Group:
- Shares held: 64,681,980
- Votes polled: 64,681,980 (100.0000% of shares held)
- Votes in favor: 64,681,980 (100.0000%)
- Votes against: 0 (0.0000%)
Public Institutions:
- Shares held: 4,820,886
- Votes polled: 4,746,635 (98.4598% of shares held)
- Votes in favor: 4,746,635 (100.0000%)
- Votes against: 0 (0.0000%)
Public Non-Institutions:
- Shares held: 2,891,677
- Votes polled: 408,082 (14.1123% of shares held)
- Votes in favor: 407,980 (99.9750%)
- Votes against: 102 (0.0250%)
Participation Statistics:
- Total members who voted: 149
- Members voting in favor: 144
- Members voting against: 5
Scrutinizer's Role and Findings
Shri Yatin Sangani, Proprietor of M/s Yatin Sangani & Co., Practicing Company Secretary (ACS: 33246; CP No: 22681), was appointed as Scrutinizer to conduct the postal ballot voting process. The scrutinizer certified that:
- The e-voting process was conducted in a fair and transparent manner
- Votes were unblocked in the presence of two independent witnesses (Mr. Nirav Shah and Mr. Roshan Srivastav)
- The voting register was maintained electronically as required
- The resolution was passed with requisite majority
- All relevant records will be maintained under the scrutinizer's safe custody until returned to the Chairman
Compliance with Laws and Regulations
The process complied with:
- Section 110 of the Companies Act, 2013
- Rules 20 and 22 of the Companies (Management and Administration) Rules, 2014
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Regulation 44)
- MCA Circulars including General Circular No. 14/2020, 17/2020, and Circular No. 03/2025
- Secretarial Standard on General Meetings (SS-2) issued by ICSI
Additional Information
Company CIN: L63030MH2020PLC440323
The voting results and scrutinizer's report are available on the company's website and MUFG Intime India Private Limited's website.