Ashoka Metcast Limited has informed the Exchange regarding Outcome of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
ASHOKAMET · price
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Ashoka Metcast Limited has completed its Postal Ballot via remote e-voting, concluding on 4th March 2026. Two special resolutions were passed with requisite majority: (1) regularization of Mr. Kunjan Nathabhai Rathod (DIN: 10964701) as a Non-Executive Independent Director, approved with 99.32% votes in favor, and (2) alteration/addition to the Object Clause of the Memorandum of Association, approved with 100% votes in favor. Out of 17,936 shareholders on record date, the promoter group (holding 13,410,000 shares) voted 100% in favor on both resolutions. Public non-institutional shareholders showed low participation at about 1.2% of their holdings. The scrutinizer was Chintan K. Patel, Practicing Company Secretary.
The appointment of a new Independent Director strengthens board composition, while the addition to the Object Clause gives the company flexibility to diversify into new business areas. Both resolutions passing with overwhelming majority signals smooth shareholder alignment, though public shareholder participation was thin.