Ashoka Metcast Limited has informed the Exchange regarding Proceedings of Postal Ballot. Further, the company has submitted the Exchange a copy of Srutinizers report.
ASHOKAMET · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Ashoka Metcast Limited concluded its postal ballot on June 26, 2025, with both special resolutions passing by overwhelming majority. Resolution 1 approved the payment of remuneration to Managing Director Mr. Ashok Chinubhai Shah, receiving 99.57% votes in favor (13,533,447 votes) against just 0.43% (58,001 votes). Resolution 2 regularized the appointment of Mr. Umangkumar Hirabhai Patel as a Non-Executive Independent Director, passing with 99.59% in favor (13,535,472 votes) against 0.41% (55,976 votes). Promoters unanimously voted in favor with all 13,410,000 of their shares, while public participation was limited — only about 1.57% of public non-institutional shares were polled (181,448 out of 11,586,000).
Both resolutions passed comfortably with strong promoter support, securing continuity in MD remuneration and bringing the board composition into formal compliance through the regularization of the independent director. The very low public voting turnout (under 2%) means the outcomes largely reflect promoter intent, so shareholders should note limited independent minority engagement on these governance matters.