Key Voting Results & Approval Details
- Resolution Type: Special Resolution
- Resolution: Appointment of Mrs. Sangeeta Singh (DIN: 10593952) as an Independent Director.
- Voting Mode: E-voting via National Securities Depository Limited (NSDL).
- Voting Period: December 29, 2024 – January 25, 2025.
- Cut-off Date for Eligibility: December 20, 2024.
- Result Declaration Date: January 28, 2025.
Voting Outcome Summary
| Category | Total Votes Polled | Votes in Favor (%) | Votes Against (%) |
|---|---|---|---|
| Promoter & Promoter Group | 28.56 crore | 100.00% | 0.00% |
| Public Institutions | 12.83 crore | 97.57% | 2.42% |
| Total | 41.39 crore | 99.65% | 0.35% |
Regulatory Compliance & Scrutinizer’s Report
- The voting was supervised by Rashmi Bihani, a Chartered Accountant (Bihani Rashmi & Co.), who appointed the Scrutinizer.
- The scrutinizer’s report confirmed that the resolution was passed with the requisite majority and will be formally recorded as approved on January 25, 2025.
- The results have been uploaded to the company’s website and NSDL e-voting platform.
Company Statement
Indranil Mitra, Company Secretary, Electrosteel Castings Limited, stated:"Completing the postal ballot and overwhelming shareholder support reinforces our commitment to corporate governance. We welcome Mrs. Sangeeta Singh to the Board and look forward to her contributions."
Strategic Outlook & Corporate Governance Enhancement
- Strengthening Board Independence: Mrs. Singh’s appointment enhances independent decision-making and corporate governance standards.
- Regulatory Compliance: Ensuring alignment with SEBI, Companies Act, and Stock Exchange mandates.
- Increased Shareholder Engagement: The postal ballot process demonstrated high participation rates among institutional and public shareholders.