Meeting Details
- NSE Symbol: GFSTEELS
- Meeting Type: Extra Ordinary General Meeting (2nd EGM of FY 2026-27)
- Meeting Date: Wednesday, October 28, 2026
- Meeting Time: 12:00 PM to 12:42 PM (IST)
- Meeting Mode: Video Conferencing / Other Audio Visual Means (OAVM)
- Record Date: October 21, 2026
Proposed Resolutions and Implications
The EGM considered and approved 10 resolutions:
1. Ordinary Resolution: Increase in Authorised Share Capital and Consequential Alteration of the Capital Clause of the Memorandum of Association
2. Special Resolution: Issue of warrants, convertible into equity shares to person(s) belonging to promoter and non-promoter category on preferential basis
3. Special Resolution: Issue of Equity Shares on Preferential Basis to Persons belonging to Non-Promoter Group
4. Special Resolution: Issue Redeemable Non-Convertible Cumulative Preference Shares through Private Placement Basis
5. Special Resolution: Adoption of new set of Articles of Association
6. Ordinary Resolution: Approval of material related party transactions with SAR Televenture Limited
7. Ordinary Resolution: Approval of material related party transactions with Parametrique Electronic Solutions Private Limited
8. Ordinary Resolution: Approval of material related party transactions with Fusionnet Web Services Limited
9. Ordinary Resolution: Approval of material related party transactions with Fusionnet Web Services Limited and SAR Televenture Limited
10. Ordinary Resolution: Approval of material related party transaction for acquisition of 1,28,09,761 equity shares, representing 90.82% of the equity share capital of Fusionnet Web Services Limited from SAR Televenture Limited
Voting Process and Methods
- Remote E-Voting Period: Sunday, October 25, 2026 (09:00 AM IST) to Tuesday, October 27, 2026 (05:00 PM IST)
- E-Voting Facility: Provided by Purva Sharegistry (India) Private Limited
- E-Voting during Meeting: Facility available for 15 minutes after conclusion of EGM for members who hadn't voted remotely
- Voting Unblocking: October 28, 2026 at about 1:16 PM IST in presence of two independent witnesses
Key Voting Outcomes
Overall Participation
- Total Shareholders on Record Date: 23,068
- Promoters Present through VC: 2 members
- Public Present through VC: 37 members
- Total Votes Cast: 21,354,750 shares across all resolutions
Resolution-wise Results:
Resolutions 1-5 (Non-related party matters):
- Total Votes Polled: 21,354,750 shares (70.1766% of outstanding shares)
- Promoter Votes: 21,352,650 shares (99.98% of promoter holdings)
- Public Non-Institution Votes: 2,100 shares (0.0232% of public non-institution holdings)
- All resolutions passed with 100% votes in favor
Resolutions 6-10 (Related party transactions):
- Total Votes Polled: 2,100 shares (0.0069% of outstanding shares)
- Promoter Votes: 0 shares (promoters abstained as interested parties)
- Public Non-Institution Votes: 2,100 shares (0.0232% of public non-institution holdings)
- All resolutions passed with 100% votes in favor from voting public shareholders
- Abstained Votes: 21,352,650 shares from promoters
Scrutinizer's Role and Findings
- Scrutinizer: Loveleen Gupta, Proprietor of L. Gupta & Associates, Practising Company Secretaries
- Appointment Date: October 1, 2026
- Qualifications: CS, Membership Number 5287
- Findings: All resolutions passed with requisite majority. The electronic voting system properly blocked members who had voted remotely from voting again during the EGM.
- Report Date: October 28, 2026
Compliance Confirmation
The voting process complied with:
- Section 108 of the Companies Act, 2013
- Rule 20 of the Companies (Management and Administration) Rules, 2014
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Applicable MCA Circulars
Additional Information
- Total Outstanding Shares: 30,430,000
- Promoter Holdings: 21,356,930 shares (70.18%)
- Public Institution Holdings: 7,080 shares (0.02%)
- Public Non-Institution Holdings: 9,065,990 shares (29.80%)
- No invalid votes were recorded in any category across all resolutions