Submission of Revised Scrutinizer Report on Voting Result of 40th Annual General Meeting held on Friday, September 26, 2025.
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Advik Capital has submitted a revised scrutinizer report for its 40th AGM after a typo in the original report incorrectly stated all 9 resolutions were passed. The corrected report shows only 3 of 9 resolutions were approved: adoption of FY25 financial statements, re-appointment of director Mr. Pankaj (DIN: 10140086), and appointment of secretarial auditor M/s Shubhangi Agarwal & Associates. Six special resolutions were rejected by shareholders, including proposals to increase authorized share capital, raise funds and issue securities, expand borrowing limits under Section 180(1)(C), secure borrowings under Section 180(1)(A), raise limits for loans and investments under Section 186, and approve related party transactions under Section 188. Each of these failed items received roughly 59.81% in favour, falling short of the 75% super-majority required for special resolutions. The company had around 1.47 lakh shareholders holding approximately 60.85 crore shares as of the September 19, 2025 cut-off date.
The rejection of six special resolutions is a significant setback for the company — its plans to raise capital, borrow more, and undertake related party transactions have been blocked by shareholders, which could constrain future growth and funding flexibility. The original report error and subsequent correction may also raise minor governance concerns among retail investors.