Scrutinizer''s Report of EGM
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Ace Men Engg Works Limited held an Extra-Ordinary General Meeting on September 12, 2025 via video conferencing, where shareholders voted on six key resolutions, all of which passed with overwhelming majority (99.98% to 100% in favour). The resolutions covered an increase in authorised share capital, approval for loans/investments/guarantees under Section 186, enhanced borrowing powers under Section 180(1)(c), related party transactions, and a preferential issue of equity shares for non-cash consideration (share swap). Additionally, shareholders approved the regularisation of Ms. Dakshaben Sanjaykumar Prajapati (DIN: 11238728) as a Non-Executive Director. The scrutinizer, Pratik Bangade & Associates, confirmed the e-voting process conducted through CDSL was valid and the results are being submitted to BSE under Regulation 44 of the Listing Regulations.
The passage of these resolutions gives the company expanded financial flexibility — including the ability to raise debt, give loans, and issue shares on a preferential basis through a share swap. For shareholders, this may lead to equity dilution from the preferential issue and signals potential acquisitions or restructuring activity, though all moves were approved with near-unanimous shareholder support.