Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Karma Energy Limited

Meeting Details

The 19th Annual General Meeting was held on July 23, 2026, at 02:00 P.M. (IST) through Video Conferencing (VC) / Other Audio-Visual Means (OAVM) facility. The record date for determining shareholder eligibility was July 16, 2026.

Summary of Proposed Resolutions

Three resolutions were proposed and voted upon:

1. Resolution No. 1 (Ordinary): Adoption of Audited Financial Statements together with the Report of the Directors and Auditors for the year ended March 31, 2026. Promoters were not interested in this resolution.

2. Resolution No. 2 (Ordinary): Re-appointment of Shri Neelkamal Vrajlal Siraj (DIN: 00021986) as a director who retired by rotation. Promoters were not interested in this resolution.

3. Resolution No. 3 (Special): Re-appointment and Revision in Remuneration of Mr. Chetan Durgadas Mehra (DIN: 00022021) as Managing Director of the Company. Promoters were interested in this resolution.

Voting Process and Methods

The shareholders were provided with e-voting facilities only. Remote e-voting was available from July 20, 2026 (9:00 AM) to July 22, 2026 (5:00 PM). E-voting during the AGM was also available for members attending through VC/OAVM who had not participated in remote e-voting.

Key Voting Outcomes

Overall Participation

  • Total number of shareholders on record date: 11,263
  • Total number of shares outstanding: 11,569,918
  • Total votes polled: 9,211,931 shares (79.6197% of outstanding shares)
  • Number of shareholders who voted: 47

Resolution-wise Results

Resolution 1: Adoption of Financial Statements

  • Total votes in favor: 9,211,855 (99.9992%)
  • Total votes against: 76 (0.0008%)
  • Resolution passed: Yes

Resolution 2: Re-appointment of Director

  • Total votes in favor: 9,211,855 (99.9992%)
  • Total votes against: 76 (0.0008%)
  • Resolution passed: Yes

Resolution 3: Re-appointment and Remuneration of MD

  • Total votes in favor: 9,211,855 (99.9992%)
  • Total votes against: 76 (0.0008%)
  • Resolution passed: Yes

Category-wise Voting Breakdown

Promoter and Promoter Group

  • Shares held: 8,643,046
  • Votes polled: 8,643,046 (100% participation)
  • All 8,643,046 votes (100%) were cast in favor of all three resolutions

Public Institutions

  • Shares held: 66
  • Votes polled: 0 (0% participation)

Public Non-Institutions

  • Shares held: 2,926,806
  • Votes polled: 568,895 (19.4374% participation)
  • Votes in favor: 568,819 (99.9866%)
  • Votes against: 76 (0.0134%)

Invalid Votes

There were no invalid votes across all shareholder categories for any resolution.

Scrutinizer's Role and Findings

Martinho Ferrao of Martinho Ferrao & Associates, Company Secretaries (FCS: 6221, C.P. No.: 5676), was appointed as the Scrutinizer. His responsibilities included:

  • Scrutinizing the process of voting through remote e-voting and e-voting during the AGM
  • Ensuring a fair and transparent voting process
  • Unblocking electronic votes after the AGM in the presence of two witnesses
  • Reconciling votes cast with company records

The scrutinizer confirmed that all three resolutions were passed with the requisite majority. The detailed breakdown showed 45 members voted in favor with 9,211,855 votes, and 2 members voted against with 76 votes across all resolutions.

Compliance Confirmation

The voting process was conducted in compliance with:

  • Section 108 of the Companies Act, 2013 and Companies (Management and Administration) Rules, 2014
  • Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • MCA circulars and SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/79 dated May 12, 2020
  • Notice of the AGM was dispatched electronically, and advertisements were published in Financial Express (English) and Mumbai Lakshadeep (Marathi) on July 2, 2026