1. Summary of proceedings of AGM. 2. Voting results under regulation 44(3) 3. Scrutinizer''s report of e voting of AGM.
Awaiting price reaction for this filing.
ARSS Infrastructure Projects held its 25th AGM on September 24, 2025 via video conferencing. The meeting was chaired by Shri Uday Narayan Mitra, Chairman of the newly constituted Monitoring Committee, following the NCLT Cuttack's approval on August 29, 2025 of the Resolution Plan submitted by Ocean Capital Market Limited (OCML). Four out of five resolutions were passed with over 99.97% votes in favour, including adoption of FY25 audited financial statements, ratification of Cost Auditor remuneration of Rs. 50,000, appointment of Secretarial Auditors for 5 years (FY26–FY30), and approval of material related party transactions up to Rs. 217.79 crore with ABCI-SCPL-SIPS JV. Notably, the promoter group holding 1.06 crore shares did not cast any votes, and only 53 public shareholders participated (representing 19.28% of public non-institutional shares polled). The resolution for re-appointment of Shri Subash Agarwal as director was not taken on record, as the Resolution Applicant will propose a new Board of Directors.
Shareholders should note that the company is emerging from CIRP with a new promoter (OCML) taking control and a new Board yet to be constituted. With promoter voting rights effectively not exercised and only ~10% of total shares polled, the voting outcomes reflect public shareholder sentiment, while governance will transition under the Monitoring Committee until the new Board is in place.