Announced Fri, 24 Jul · 16:16 IST
Postal ballot on related party property sale rejected by shareholders
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-2.2%1-day move
₹51.10
prior close
₹50.20
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
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Up moveDown movePending
AI summary
Aimco Pesticides postal ballot seeking approval for a related party transaction to sell immovable property under Section 188 of the Companies Act was NOT passed. Only 23 of 7,985 eligible members cast votes (1,09,775 shares); 37.76 percent voted in favor while 62.24 percent voted against. Promoters holding 53.26 lakh shares did not participate in voting. The ordinary resolution needed simple majority but failed to get it.
Likely market impact
Proposed sale of immovable property to related party cannot proceed. Reflects shareholder dissent on promoter-linked deals; minor business impact.